Market Report, "Venezuela Pharmaceuticals & Healthcare Report Q1 2015", published

From: Fast Market Research, Inc.
Published: Thu Jan 29 2015

New trade and cooperative agreements for necessary medicines as well as financial injections into the healthcare system will ease Venezuela's troublesome medicine shortage as well as expand healthcare provision in the short-term. Though, the country's fundamental problems which include an increasing inflation, currency devaluation, and a problematic desire for pharmaceutical self-reliance will continue to significantly impair the development of Venezuela's pharmaceutical and healthcare markets over the long-term.

Headline Expenditure Projections

* Pharmaceuticals: VEB59.85bn (USD9.85bn) in 2013 to VEB96.94bn (USD15.41bn) in 2014; +62% in local currency terms and 56.4% in US dollar terms. Forecast revised upwards from Q 4 14 due to higher inflation forecast.
* Healthcare: VEB108.26bn (USD17.82bn) in 2013 to VEB166.62bn (USD26.48bn) in 2014; +53.9% in local currency terms and 48.6% in US dollar terms. Forecast up due to higher inflation forecast.

Full Report Details at

Risk/Reward Index : Venezuela comes ninth in BMI's RRI matrix for Q115 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.

Key Trends And Developments

* In December 2014, the Venezuelan Ministry of Health announced its plans to inject VEB38mn into the country's healthcare system. The Ministry soon after began discussions to finalize the budget plans. The plans will most likely look to increase drug supply as well as strengthen healthcare infrastructure and increase the number of trained healthcare workers in the country.
* In December 2014, Venezuela signed 62 new agreements to strengthen education, trade, energy and healthcare between the two nations. The agreement particularly focuses on the Cuban training of Venezuelan healthcare workers to specialise in various fields.
* In December 2014, Venezuela's...

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 Venezuela pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's pharmaceutical and healthcare market forecasts for Venezuela, to test other views - a key input for successful budgeting and strategic business planning in the Venezuelan pharmaceutical and healthcare market.

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