Fast Market Research recommends "Peru Pharmaceuticals & Healthcare Report Q2 2014" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 03/27/2014 -- Peru will offer longer-term growth opportunities to foreign pharmaceutical companies. Although per capita medicine spending in the country is among the lowest in Latin America, pharmaceutical companies can generate rapid sales growth due to the lack of mandatory medicine pricing system in Peru. More stringent quality controls, relatively weak domestic pharmaceutical industry, ongoing liberalisation of bilateral trade agreements and the recognition of 'High Sanitary Surveillance' as well as Peru's investor-friendly business environment will further benefit foreign companies.
View Full Report Details and Table of Contents
Headline Expenditure Projections
- Pharmaceuticals: PEN4.38bn (US$1.62bn) in 2013 to PEN4.68bn (US$1.72bn) in 2014; +6.8% in local currency terms and +6.2% in US dollar terms. Local currency forecast decreased compared with Q114 projection due to less promising macroeconomic forecast.
- Healthcare: PEN27.64bn (US$10.22bn) in 2013 to PEN29.65bn (US$10.90bn) in 2014; +7.3% in local currency terms and +6.6% in US dollar terms. Local currency forecast decreased compared with Q114 projection due to less promising macroeconomic forecast.
Risk/Reward Rating: In BMI's RRRs for Q2 2014, Peru remains 10th out of the 18 markets surveyed in the Americas matrix. Peru's Reward and Risk scores are both viewed as being less favourable than the regional averages. A small market size and a deficient IP environment are some of the major drawbacks to the involvement of foreign companies in Peru. Nevertheless, Peru is still seen as being able to offer longerterm benefits to foreign investors, on account of the expected healthcare market development and economic growth.
Key Trends And Developments
- In January 2014, Peru's National Association of Pharmaceutical Industries (ADIFAN) reported that during the first ten months of 2013, local pharmaceutical production decreased by 5.7%, and domestic drug production output only accounted for 33% of installed manufacture capacity. Jose Enrique Silva Pellegrin, the president of ADIFAN, expected the full year local production growth to be flat or even negative. On the other hand, imports of medicines have increased significantly during the same period. In October 2013, import growth reached 18.6% year-on-year (y-o-y). Pellegrin noted that the decreased domestic production together with import rise has pushed local drug price high.
- In December 2013, Ireland-based Mundipharma Pharmaceuticals planned to expand in Peru as part of a larger strategy to expand its footprint in Latin American countries by 2015.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Sweden Pharmaceuticals & Healthcare Report Q2 2014
- Kenya Pharmaceuticals & Healthcare Report Q2 2014
- Croatia Pharmaceuticals & Healthcare Report Q2 2014
- Bangladesh Pharmaceuticals & Healthcare Report Q2 2014
- Mexico Pharmaceuticals & Healthcare Report Q2 2014
- Bulgaria Pharmaceuticals & Healthcare Report Q2 2014
- Thailand Pharmaceuticals & Healthcare Report Q2 2014
- Kazakhstan Pharmaceuticals & Healthcare Report Q2 2014
- Lebanon Pharmaceuticals & Healthcare Report Q2 2014
- Japan Pharmaceuticals & Healthcare Report Q2 2014