Market Report, "Central America Pharmaceuticals & Healthcare Report Q2 2014", published

From: Fast Market Research, Inc.
Published: Tue Feb 18 2014

The Central American regional pharmaceutical and healthcare markets, consisting of the seven markets of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Belize, will remain highly diverse. Panama and Costa Rica will outperform in comparison with their regional peers, and improving healthcare investment should translate into higher consumption of medicines. However, the region's low per capita pharmaceutical spending and generic drugs' high market share has limited multinationals' growth potential in the region.

Headline Expenditure Projections

* Pharmaceuticals: US$3.7bn in 2013 to US$3.8bn in 2014; +4.6%. Our forecast has been revised slightly downwards since Q114 due to less optimistic macroeconomic data.
* Healthcare: US$17.1bn in 2013 to US$18.3bn in 2014; +7.2 %. Our forecast has been revised downwards since Q114 due to less optimistic macroeconomic data.

Risk/Reward Ratings: Based on our analysis and assessment of the market's appeal to pharmaceutical companies, in BMI's Q214 Pharmaceutical Risk/Reward Ratings (RRRs) the Americas scores 50.6 out of 100. This is below Western Europe (67), Central and Eastern Europe (52), and Asia Pacific (52), but above the Middle East and Africa (42) region. Of the seven Central American countries surveyed, at 45.2 Panama's RRR score ranks first, followed by Costa Rica (42.0), Belize (38.1), Guatemala (37.6), El Salvador (37.0), Honduras (32.6) and Nicaragua (32.3).

Full Report Details at

Key Trends And Developments

* In January 2014, Bayer opened a new US$3mn pharmaceutical plant in Costa Rica to develop a novel product for permanent birth control. The plant will be located in the Metropolitan Free Zone in Aurora de Heredia and initially hire around 50 people. It will have the capacity to produce between 40,000 and 80,000 kits, according to Rafael Villarroel, president of Bayer Central America and the Caribbean.
* In November 2013, Panama's International Center of Radiosurgery and Radiation Oncology (CIRRUS) installed US-based Varian Medical Systems' hi-tech trilogy system to provide a complete spectrum of advanced treatments for cancer patients in Panama and Central America. With the implementation of the trilogy medical linear accelerator, cancer patients in the region now have access to radiotherapy and radiosurgery treatments. The trilogy system offers a wide spectrum of advanced radiotherapy treatments, such as intensity modulated radiotherapy as 3-D (IMRT) guided radiotherapy (IGRT), RapidArc radiotherapy and radiosurgery.
* In November 2013, Venus Remedies' Elores, an antibiotic adjuvant entity, received marketing authorisation in Guatemala, where the product will be launched in early 2014. This is the first marketing authorisation for Elores in a Latin American country and the company expects to generate US$5mn in revenue within three years of the launch.

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