The Pharmaceutical Market: Colombia

Date: January 31, 2013
Pages: 114
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US$ 1,295.00
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Publisher: Espicom Business Intelligence
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: P29BBA04C81EN
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The Pharmaceutical Market: Colombia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN COLOMBIA

Improvements in Colombia's pharmaceutical re gulation system will expand local patients' access to medicines. However, it will also p ut pricing pressure s on drugmakers, and promote the use of generic versions, which will undermine the growth of patented drug market. Nevertheless, BMI expects more foreign pharmaceutical co mpanies to invest in Colombia, capitalising on the country's strong long-term growth prospects.

Headline Expenditure Projections

Pharmaceuticals: COP7,076bn (US$3.83bn) in 2011 to COP7,612bn (US$4.23bn) in 2012; +7.6% in local currency terms and +10.4% in US dollar terms. Forecast broadly in line with Q4 12.

Healthcare: COP29,953bn (US$16.21bn) in 2011 to COP31,557bn (US$17.53bn) in 2012; +5.4% growth in local currency terms and +8.2% in US dollar terms. Forecast broadly in line with Q4 12.

Medical devices: COP1,901bn (US$1.03bn) in 2011 to COP2,127bn (US$1.18bn) in 2012; +11.9% growth in local currency terms and +14.9% in US dollar terms. Forecast broadly in line with Q4 12.

Risk/Reward Rating:Despite a 3% quarter-on-quarter (q-o-q) improvement in its composite score, Colombia slipped from sixth to seventh place out of the 17 countries surveyed in the Americas region. Nevertheless, we retain our positive view of Colombia's longer-term commercial opportunities for pharmaceutical companies, which are supported by factors such as substantial population numbers, steady economic development and underdeveloped pharmaceutical demand. On a negative note, we continue to view intellectual property (IP) shortcomings as problematic.

Competitive Landscape

The Competitive Landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.
EXECUTIVE SUMMARY

SWOT ANALYSIS

    Colombia Pharmaceutical And Healthcare Industry SWOT
    Colombia Political SWOT
    Colombia Economic SWOT
    Colombia Business Environment SWOT

PHARMACEUTICAL RISK/REWARD RATINGS

    Table: Americas Pharmaceutical Risk/Reward Ratings, Q113
    Rewards
    Risks

COLOMBIA – MARKET OVERVIEW

REGULATORY REGIME

    Other Regulatory Issues
    Recent Regulatory Developments
    Pharmaceutical Advertising
    Intellectual Property Regime
    Intellectual Property Shortcomings
    Counterfeit Pharmaceuticals
    Health-Related Litigation
    Free Trade Agreement With The US
    Table: Colombia-US FTA Mechanisms Relevant To Intellectual Property
    Pricing Regime
    Table: New Drug Pricing Classification by Type, 2005
    Recent Pricing Regime Developments
    Reimbursement Regime
    National Drug Policy

INDUSTRY DEVELOPMENTS

    Epidemiology
    HIV/AIDS
    Healthcare Sector
    Healthcare Insurance
    Private Health Insurance
    Healthcare Insurance Funding
    Emergency Healthcare Reform
    Medical Tourism
    Research and Development (R&D)
    Table: Pharmaceutical Research and Science Centre (CECIF) Members, 2012
    Clinical Trials
    Medical Devices

INDUSTRY FORECAST SCENARIO

    Pharmaceutical Market Forecast
    Table: Pharmaceutical Sales, 2008-2016
    Healthcare Market Forecast
    Table: Overall Healthcare Expenditure, 2008-2016
      Table: Government Healthcare Expenditure, 2008-2016
      Table: Private Healthcare Expenditure, 2008-2016
      Key Growth Factors – Macroeconomic
      Prescription Drug Market Forecast
      Table: Prescription Drug Sales, 2008-2016
      Patented Drug Market Forecast
      Table: Patented Drug Sales, 2008-2016
      Generic Drug Market Forecast
      Table: Generic Drug Sales, 2008-2016
      OTC Medicine Market Forecast
      Table: OTC Medicine Sales, 2008-2016
      Pharmaceutical Trade Forecast
      Table: Pharmaceutical Trade, 2009-2016
      Medical Device Market Forecast
      Table: Medical Device Sales, 2008-2016
      Other Healthcare Data Forecasts
      Key Risks To BMI’s Forecast Scenario

COMPETITIVE LANDSCAPE

      Pharmaceutical Industry
      Table: Pharmaceutical Producers, 2000-2009
      Table: Pharmaceutical Production, 2000-2009
      Table: Pharmaceutical Personnel, 2000-2009
      Domestic Pharmaceutical Sector
      Foreign Pharmaceutical Sector
      Table: Members Of Asociación De Laboratorios Farmacéuticos De Investigación (AFIDRO), 2012
      Table: Leading Pharmaceutical Companies By Revenues, 2011 (COPmn)
      Table: Leading Pharmaceutical Importers/Wholesalers By Revenues, 2011
      Table: INVIMA-Certified Pharmaceutical Manufacturing Establishments, October 15 2010
      Pharmaceutical Company Developments
      Pharmaceutical Wholesale
      Pharmaceutical Retail
      Table: Leading Pharmaceutical Retailers, 2009-2010

COMPANY PROFILES

  Local Companies
      Tecnoquímicas
      Lafrancol
      Laboratorios Genfar SA
      Laboratorios Bussié
  Multinational Companies
      GlaxoSmithKline
      Pfizer
      Merck & Co
      Sanofi
      Novartis

DEMOGRAPHIC OUTLOOK

      Table: Population By Age Group, 1990-2020 (‘000)
      Table: Population By Age Group, 1990-2020 (% of total)
      Table: Key Population Ratios, 1990-2020
      Table: Rural And Urban Population, 1990-2020

GLOSSARY

BMI METHODOLOGY

    How We Generate Our Pharmaceutical Industry Forecasts
    Pharmaceutical Risk/Reward Ratings Methodology
    Ratings Overview
    Table: Pharmaceutical Risk/Reward Indicators
    Weighting
    Table: Weighting Of Components
    Sources
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