New Healthcare market report from Business Monitor International: "Colombia Pharmaceuticals & Healthcare Report Q1 2014"

Boston, MA -- (SBWire) -- 01/02/2014 --We continue to expect steady growth of the Colombian pharmaceutical market over the five years to 2017. Volume demand - from both demographic and epidemiological points of view - will continue to play an important role in the market development. On the down side, increased focus on cost-containment and persistent intellectual property (IP) shortcomings and market barriers will - to a degree -continue to detract from investment by more risk-averse patented drug makers.

Headline Expenditure Projections

- Pharmaceuticals: COP7,588bn (US$4.22bn) in 2012 to COP8,136bn (US$4.34bn) in 2013; +7.2% in local currency terms and +2.9% in US dollar terms. Forecasts broadly unchanged in relation to the previous quarter.
- Healthcare: COP40,230bn (US$22.39bn) in 2012 to COP43,227bn (US$23.08bn) in 2013; +7.4% in local currency terms and +3.1% in US dollar terms. Forecasts broadly unchanged in relation to the previous quarter.

View Full Report Details and Table of Contents

Risk/Reward Rating: In our Q114 regional RRR assessment, Colombia moved up from eight to seventh out of 18 markets surveyed in the Americas region. Colombia boasts above-average Rewards and Risks. Although we caution that the country's intellectual property (IP) regime and that its unresolved security situation will continue to represent barriers to multinational involvement, Colombia will continue to be of interest from the longer-term point of view, not least on account of its substantial population numbers.

Key Trends And Developments

- In October 2013, Canadian Cardiome Pharma Corp's subsidiary, Cardiome Development, entered into an agreement with Colombian Biospifar S.A., under which Biospifar will sell and distribute the former's Brinavess (vernakalant intravenous) - indicated for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults - in Colombia on an exclusive basis. Under the terms of the agreement, Biospifar has agreed to specific annual commercial goals, although financial details of the agreement have not been disclosed.

BMI Economic View: We forecast Colombian real GDP to expand by 4.1% in 2013 and 4.3% in 2014, up from 4.0% in 2012. However, ongoing labour disruptions to exports pose downside risks to our medium-term growth outlook. We maintain a favourable long-term growth outlook, as investment into the infrastructure and oil and gas sectors, combined with a strengthening consumer, will drive robust real GDP growth in the coming years.

About Fast Market Research
Fast Market Research is an online aggregator and 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 will 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 Q1 2014
- Bulgaria Pharmaceuticals & Healthcare Report Q1 2014
- Nigeria Pharmaceuticals & Healthcare Report Q1 2014
- Romania Pharmaceuticals & Healthcare Report Q1 2014
- Oman Pharmaceuticals & Healthcare Report Q1 2014
- Uzbekistan Pharmaceuticals & Healthcare Report Q1 2014
- Slovenia Pharmaceuticals & Healthcare Report Q1 2014
- Croatia Pharmaceuticals & Healthcare Report Q1 2014
- Latvia Pharmaceuticals & Healthcare Report Q1 2014
- Taiwan Pharmaceuticals & Healthcare Report Q1 2014