Recently published research from Business Monitor International, "Peru Pharmaceuticals & Healthcare Report Q1 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 02/12/2013 -- BMI View: We have recently revised downwards our 2012 pharmaceutical sales growth for Peru, due to the recent price cuts in the prescription drug sector, which accounts for over 74% of total pharmaceutical sales. Still, our projected compound annual growth rate (CAGR) between 2011 and 2016 remains largely unchanged as BMI believes Peru still offers considerable longer-term benefits to local and foreign pharmaceutical companies because of the country's ageing population, increasing disease burden and the expected change in drug consumption patterns.
Headline Expenditure Projections
- Pharmaceuticals: PEN3.90bn (US$1.42bn) in 2011 to PEN4.11bn (US$1.57bn) in 2012; +5.3% in local currency terms and +10.4% in US dollar terms. Forecast revised downwards from Q412 due to price cuts in the prescription drug sector.
- Healthcare: PEN19.52bn (US$7.09bn) in 2011 to PEN20.73bn (US$7.90bn) in 2012; +6.2% in local currency terms and +11.4% in US dollar terms. US dollar forecast unchanged from Q412.
- Medical devices: PEN897mn (US$326mn) in 2011 to PEN954mn (US$363mn) in 2012; +6.3% in local currency terms and +11.6% in US dollar terms. Forecast slightly lower than Q412 on account of macroeconomic factors.
View Full Report Details and Table of Contents
Risk/Reward Rating: Peru's composite score for Q113 stands at an unchanged 47.7 out of the maximum 100, which again places the country ninth out of the 17 countries surveyed in our Pharmaceutical Risk/Reward Ratings (RRRs) matrix for the Americas. Peru will continue to be viewed as a moderately promising longer-term pharmaceutical market for multinationals, on account of the below-average industry rewards and risks, although we expect continued improvements in the country's operating climate. Globally, Peru is ranked 54th (up from 55th in the previous quarter) out of the 95 markets surveyed in our pharmaceuticals universe, above Kazakhstan and below Indonesia.
Key Trends And Developments
- According to Peru's pharmaceutical industry association, the Asociacion de Industrias Farmaceuticas Nacionales (Adifan), local drug sales in the first five months of 2012 amounted to PEN 1,126mn (US$418.5mn), which equates to an increase of 4.67% compared to the same period in 2011. Adifan President Jose Enrique Silva said the growth in generic drug volumes (6.00%) was higher than in value terms (4.67%), due to the drug price decreases this year. He said since 2009 there was steady drug price increase in line with the strong Peruvian economygrowth. However, prescription drug sales, experienced growth of 5.24% in value terms and a 6.45% increase in volume terms in the first five months of this year.
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