Boston, MA -- (ReleaseWire) -- 07/17/2014 -- Price controls, high inflation, currency devaluation, import and foreign currency controls, as well as other structurally distorting policies in Venezuela will continue to plague the country's pharmaceutical market until the end of President Maduro's first term .
Headline Expenditure Projections
- Pharmaceuticals: VEB59.85bn (USD9.85bn) in 2013 to VEB88.73bn (USD10.09bn) in 2014; +48.2% in local currency terms and 2.4% in US dollar terms. Forecast revised upwards from Q214 due to higher inflation forecast.
- Healthcare: VEB108.28bn (USD17.82bn) in 2013 to VEB154.91bn (USD17.61bn) in 2014; +43.1% in local currency terms and -1.2% in US dollar terms. Forecast down due to new historical data.
Risk/Reward Rating: Venezuela comes eighth in BMI's RRR matrix for Q314 in America, which ranks pharmaceutical markets according to their attractiveness to multinational drugmakers. Venezuela's pharmaceutical market is expected to grow at double-digit rates through to 2023 in local currency terms, largely due to inflation.
View Full Report Details and Table of Contents
Key Trends And Developments
- In April 2014, Venus Remedies' meropenem received marketing authorisation in Venezuela.
- In March 2014, Venezuela was reported to be facing a shortage of drugs. This was due to poor economic conditions resulting from a scarcity of US dollars, which has caused annual inflation of 57% in the country. Pharmaceutical companies that import and produce medicines and medical items have stated they now owe their suppliers about USD1.2bn.
BMI Economic View: We believe that Venezuela's current account surplus will continue to deteriorate over the course of 2014, thanks to stagnant export revenues and a structural limit on the scope of further import declines. This is despite depreciatory policies recently adopted by the government, which have seen the bol?var sharply fall in value and made foreign goods more expensive in local currency terms.
BMI Political View: We believe that the widespread unrest and political...
The Venezuela Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Venezuela Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Venezuelan pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Venezuela to test other views - a key input for successful budgeting and strategic business planning in the Venezuelan pharmaceutical and healthcare market.
- Target business opportunities and risks in the Venezuelan pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Venezuela.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View & Industry SWOT
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.
Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
BMI Industry Forecasts
Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
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:
- Egypt Pharmaceuticals & Healthcare Report Q3 2014
- Moldova Pharmaceuticals & Healthcare Report Q3 2014
- Peru Pharmaceuticals & Healthcare Report Q3 2014
- France Pharmaceuticals & Healthcare Report Q3 2014
- Turkey Pharmaceuticals & Healthcare Report Q3 2014
- Slovenia Pharmaceuticals & Healthcare Report Q3 2014
- United Kingdom Pharmaceuticals & Healthcare Report Q3 2014
- Lithuania Pharmaceuticals & Healthcare Report Q3 2014
- Jordan Pharmaceuticals & Healthcare Report Q3 2014
- Estonia Pharmaceuticals & Healthcare Report Q3 2014