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The Pharmaceutical Market: Colombia

Published: Dec 2014 | No Of Pages: 124 | Published By: Espicom

Product Synopsis

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. Forecastbroadly in line withQ4 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. Forecastbroadly 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. Forecastbroadly in line with Q4 12.
Risk/RewardRating

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.
BMI Industry View7
SWOT9
Political11
Economic12
Business Environment13
Industry Forecast14
Pharmaceutical Market Forecast14
 
Table: Pharmaceutical Sales, Historical Data And Forecasts15
 
Healthcare Market Forecast16
 
Table: Healthcare Expenditure Trends, Historical Data And Forecasts18
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts19
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts20
 
Prescription Drug Market Forecast21
 
Table: Prescription Drug Market Indicators, Historical Data And Forecasts22
 
Patented Drug Market Forecast22
 
Table: Patented Drug Market Indicators, Historical Data And Forecasts23
 
Generic Drug Market Forecast24
 
Table: Generics Drug Market Indicators, Historical Data And Forecasts26
 
OTC Medicine Market Forecast26
 
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts28
 
Pharmaceutical Trade Forecast29
 
Table: Pharmaceutical Trade Data And Forecast30
Table: Pharmaceutical Trade Data And Forecasts COP31
 
Other Healthcare Data31
Key Risks To BMI's Forecast Scenario32
Macroeconomic Forecasts33
 
Table: Colombia - GDP By Expenditure, Real Growth %37
 
Industry Risk Reward Ratings38
Americas Risk/Reward Ratings38
Colombia Risk/Reward Ratings44
Rewards44
Risks44
Market Overview46
Industry Trends And Developments47
Epidemiology47
Healthcare Sector48
Healthcare Insurance49
Private Health Insurance52
Healthcare Insurance Funding52
Research and Development (R&D)54
 
Table: Pharmaceutical Research and Science Centre (CECIF) Members, 201255
 
Clinical Trials55
Regulatory Development57
Intellectual Property Regime58
Intellectual Property Shortcomings59
 
Table: Colombia-US FTA Mechanisms Relevant To Intellectual Property63
 
Pricing Regime64
Table: New Drug Pricing Classification by Type, 200565
Reimbursement Regime68
Competitive Landscape71
Pharmaceutical Industry71
Domestic Pharmaceutical Sector72
Foreign Pharmaceutical Sector72
 
Table: Members Of Asociaci-n De Laboratorios Farmac-uticos De Investigaci-n (AFIDRO), 201273
Table: Leading Pharmaceutical Companies By Revenues, 2011 (COPmn)74
Table: Leading Pharmaceutical Importers/Wholesalers By Revenues, 201175
 
Pharmaceutical Retail77
 
Table: Leading Pharmaceutical Retailers, 2009-201079
 
Company Profile81
Tecnoqu-micas81
Lafrancol85
Laboratorios Genfar SA88
Laboratorios Bussi-90
GlaxoSmithKline92
Pfizer95
Merck & Co97
Sanofi100
Novartis103
Demographic Forecast105
 
Table: Colombia's Population By Age Group, 1990-2020 ('000)106
Table: Colombia's Population By Age Group, 1990-2020 (% of total)107
Table: Colombia's Key Population Ratios, 1990-2020108
Table: Colombia's Rural And Urban Population, 1990-2020108
 
Glossary109
Methodology111
Pharmaceutical Expenditure Forecast Model111
Healthcare Expenditure Forecast Model111
Notes On Methodology112
Risk/Reward Ratings Methodology113
Ratings Overview114
 
Table: Pharmaceutical Risk/Reward Ratings Indicators114
 
Indicator Weightings115
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