BMI View: Central America will continue to offer revenue- generating opportunities for multinational pharmaceutical companies. An ageing population, favourable tax incentives, high per-capita medicine spending, and an improving infrastructure for medicine development and manufacturing make the region an attractive destination for drugmakers.
Headline Expenditure Projections
Pharmaceuticals: USD3.5bn in 2013 to USD3.7bn in 2014; +4.1%. Our forecast has been revised slightly down since Q314 due to less promising industry data.
Healthcare: USD16.0bn in 2013 to USD16.8bn in 2014; +5.1 %. Our forecast has been revised downwards since Q314 due to revised historical data.
Risk/Reward Index: Based on our analysis and assessment of the market's appeal to pharmaceutical companies in our Q414 Pharmaceutical Risk/Reward Index (RRIs), the Americas scores 50.4 out of 100, below Western Europe (68), Asia Pacific (53), and Central and Eastern Europe (51), but above the Middle East and Africa (42.3). Of the seven Central American countries surveyed, at 44.0 Panama's RRI score ranks first, followed by Costa Rica (40.8), Guatemala (37.6), Honduras (38.2), Belize (36.6), El Salvador (35.0) and Nicaragua (33.5).
Key Trends And Developments
In October 2014, Nutra Pharma Corp. announced its selection of an exclusive Panama distributor for its Nyloxin-branded pain relievers. The company stated its dedicated to an international roll-out marketing to Central America
In August 2014, El Salvador noted a 19.6% increase in the country's medical tourism for the year, generating USD12mn in addition to 16 new hospitals receiving certification from the American Association of Accreditation for Ambulatory Surgery Facilities International (AAAASFI).
BMI Economic View: The region's economic trajectory remains divergent. Panama will continue to be the regional outperformer, despite its slow GDP growth, followed by Costa Rica which is currently dealing with its largest deficit on record...
The Central America 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 Central America Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Panama, Guatemala, Nicaragua, El Salvador, Costa Rica, Belize, Honduras pharmaceutical and healthcare industry.
- Benchmark BMI's pharmaceutical and healthcare market forecasts for Panama, Guatemala, Nicaragua, El Salvador, Costa Rica, Belize, Honduras, to test other views - a key input for successful budgeting and strategic business planning in the Panamanian, Guatemalan, Nicaraguan, Salvadoran, Costa Rican, Belizean, Honduran pharmaceutical and healthcare market.
- Target business opportunities and risks in the Panamanian, Guatemalan, Nicaraguan, Salvadoran, Costa Rican, Belizean, Honduran pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Panama, Guatemala, Nicaragua, El Salvador, Costa Rica, Belize, Honduras.
- Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.
BMI Industry View
An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.
BMI Industry Forecast Scenario
Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
- Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
- Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
- Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
- Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
- OTC Drug Market: OTC sales (USDbn & % of total sales).
- Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.
BMI’s Pharmaceuticals and Healthcare Risk Reward Index
BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.
A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
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 analysis of the overall regulatory burden.
The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.