Venezuela Pharmaceuticals and Healthcare Report Q2 2009

Publication Date	May 2009
Publisher	Business Monitor
Product Type	Report
Pages	72
ISBN Number	1748-2291
Product Code	BMI03832

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Summary

BMI forecasts that the Venezuelan pharmaceutical market will contract in US dollar terms at a rate of 12.2% per annum from 2008-2013. The poor performance is due to overall weaknesses in the Venezuelan economy, which will have a knock on effect on drug market expenditure. BMI's view is that real GDP will contract substantially by 5.6% in 2009, and 1.7% in 2010. The deep recession and rising inflation will force the government into public spending cuts, which could impact the health sector. Inflation will be a particular problem, and in real terms we expect Venezuela's drug market to contract by 18% in 2009.

On a regional scale, BMI reports that generic medicines constitute a growing part of the drug markets in Bolivia, Colombia, Peru, Venezuela and Ecuador. A study carried out by Health Action International investigated the availability of 42 branded medicines in 42 private and 34 public sector pharmacies in the four Andean nations and Venezuela. The findings of the project revealed that generic drugs are more widely available than branded medicines across all five countries. The survey showed that public sector pharmacies did not stock patented drugs at all, offering only generic alternatives. Private pharmacies in Ecuador stocked 60% of the cheapest generic versions of the surveyed medicines, Peru stocked 57%, Venezuela stocked 55%, Colombia stocked 50% and Bolivia stocked 48%. Branded medicines fared the best in Venezuela, where 57% of the surveyed drugs were available in private pharmacies. Meanwhile, 52% of the branded medicines were available in Ecuador, 43% in Colombia, 12% in Peru and 5% in Bolivia.

In company terms, Q209 was quiet in Venezuela. However, pharmacy chain Farmatodo closed for 72 hours during January 2009, due to a tax-related investigation. Inconsistencies in the firm's books since 2006 led to the governmental action. BMI views this development as a sign of improving regulations within the pharmaceutical sector in Venezuela; however, the closure of 103 out of the total 128 outlets affected patient access to medicines.

With such a dire economic prognosis and news that Hugo Chavez has won the right to seek re-election indefinitely, presenting considerable long-term political risk in the country, it is no surprise that Venezuela has fallen once again to the bottom of BMI's Business Environment Rankings for the Americas region.

Content

Executive Summary
Venezuela Pharmaceuticals And Healthcare Industry SWOT Analysis
Venezuela Political SWOT Analysis
Venezuela Economic SWOT Analysis
Venezuela Business Environment SWOT Analysis
Pharmaceutical Business Environment Ratings
Limits of Potential Returns
Risks to Realisation of Returns
Regulatory Regime
Intellectual Property Environment
International Collaboration
Counterfeit Drugs
Pricing And Reimbursement
Other Regulatory Issues
Industry Developments
Epidemiology
Healthcare Sector
Hospital Sector
Private Healthcare Sector
Regional Healthcare Collaboration
Pharmaceutical Sector
Company Activity
OTC Medicines
Pharmacy Sector
Medical Devices
Industry Forecast Scenario
Overall Market Forecast
Key Growth Factors - Industry
Key Growth Factors - Macroeconomic
Major Contraction Ahead
Prescription Drug Market Forecast
Patented Market Forecast
Generics Market Forecast
OTC Market Forecast
Import/Export Forecasts
Medical Devices Forecasts
Medical Devices Forecasts
Other Healthcare Data Forecasts
Key Risks to BMI's Forecast Scenario
Competitive Landscape
Company Profiles
Leading Multinationals
Pfizer
Sanofi-Aventis
GlaxoSmithKline
Boehringer Inglelheim
Novartis
Merck & Co
Indigenous Company Profiles
Grupo Farma
Elmor
Strides Latina (Sumifarma)
Calox International
Country Snapshot: Venezuela Demographic Data
Section 1: Population
Section 2: Education And Healthcare
Section 3: Labour Market And Spending Power
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Weighting
Sources
List of Tables
- Table: Business Environment Ratings
- Table: Venezuela - Drug Expenditure Indicators, 2003-2013
- Table: Venezuela - Health Expenditure Indicators, 2003-2013
- Table: Venezuela - Economic Activity
- Table: Venezuela - Prescription Market Indicators, 2003-2013 (VEBmn unless otherwise stated)
- Table: Venezuela - Patented Market Indicators, 2003-2013
- Table: Venezuela - Generics Market Indicators, 2003-2013
- Table: Venezuela - OTC Market Indicators, 2003-2013 (VEBmn unless otherwise stated)
- Table: Venezuela - Import/Export Indicators, 2003-2013 (US$mn)
- Table: Venezuela's Medical Device Market, 2006-2013 (US$mn unless otherwise stated)
- Table: Venezuela - Other Healthcare Data, 2003-2013
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2030
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Pharmaceutical Business Environment Indicators
- Table: Weighting Of Components

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Product features / use

Level	General Industry Strategies
Data	Detailed Market Forecasts
Profiles	Profiles of Key Companies
Features	Contains SWOT Analysis
Extra Info	Consumer Trends Highlighted