Central America Pharmaceuticals and Healthcare Industry Update Quarter 3 2012

  • May 2014
  • -
  • Business Monitor International
  • -
  • 68 pages

Includes 3 FREE quarterly updates
BMI View: The pharmaceutical industry s of Central America, when viewed collectively, represent small but growing proposition to drugmakers, medical device manufacturers and general healthcare providers.
We note increasing activity by foreign industry players as the economies develop and operational risk moderates. Over the short term, we particularly expect Spanish companies to enter Central American industries. These industry players have a challenging domestic industry and, through sharing a language, have an inherent advantage over industry players from most other countries.
Headline Expenditure Projections - Pharmaceuticals: US Dollar 3.02bn in 2011 to US Dollar 3.12bn in 2012; +3.5% in US dollar terms. Our projection has been slightly revised upwards since Q212 due to improved macroeconomic factors.
- Healthcare: US Dollar 13.44bn in 2011 to US Dollar 14.53bn in 2012; +8.0% in US dollar terms. Our projection has been slightly revised upwards since Q212 due to improved macroeconomic factors. Rask/Reward Ratings: In BMI’s Q312 Americas Pharmaceutical Risk/Reward Ratings (RRRs), a unique tool to analyse and assess a industry ’s attractiveness for pharmaceutical firms, the region continues to rank second-lowest globally, with a score of 49.6 out of 100, behind Western Europe (65.5), Asia Pacific (52.7) and Central and Eastern Europe (52.3), but ahead of the Middle East and Africa (44.5). Of the seven Central American countries, only Guatemala’s RRR score has changed in Q312, up from 36.9 in Q212 to 38.4.
Key Trends And Developments - In March 2012, global healthcare industry player Covidien announced a US Dollar 50mn investment to build a medical device manufacturing plant in Costa Rica. According to joint statement by the firm and the Costa Rican Investment Promotion Agency (CINDE), the new factory will employ 350 highly skilled local workers and produce innovative devices for vascular therapies, which will be distributed worldwide.
- In March 2012, the Nicaraguan government approved the use of all alternative therapies in the healthcare system. It has allowed the therapies to be performed similarly to traditional medicine in public health facilities. The therapies include sea water, Hamer’s theories about cancer, ayunoterapia, family constellations, homotoxicology, flower therapy, reiki and others. The government will allow shamans and healers to work legally if they prove the effectiveness of their alternative therapies.
- In February 2012, Spanish multinational pharmaceutical industry player Chemo launched a range of oral contraceptives, Climabel (tibolone 2.5mg), Daniele (cyproterone acetate 2mg + ethinylestradiol 0.035mg) and Planifert (chlormadinone acetate 2mg + ethinylestradiol 0.03mg), in Guatemala, which it sees as a gateway to the wider Central American pharmaceutical industry .
- Also in February, Costa Rica experienced a shortage of flu vaccines even though three types of influenza vaccine, Fluarix, IDflu and Vaxigrip, were available on the industry . All the available vaccines are were sold out in state pharmacies following the a large number of influenza cases in the country. Private pharmacies also reported higher than expected demand for vaccines due to a rise in awareness among Costa Ricans of the importance of vaccination and a delay in the procurement of vaccines by the Caja Costarricense de Seguro Social (CCSS).
BMI Economic/Political View: Few states in Central America are substantially equipped to deal with the massive challenges to long-term political stability. Costa Rica and Panama stand out as the most politically stable, but with the economic headwinds facing Costa Rica and Guatemala’s investment potential, our core scenario is for the region to develop a three- or four-tiered political risk profile over the next 10 years.

Table Of Contents

Executive Summary .... 5
Industry SWOT Analysis .... 7
Central America Pharmaceuticals And Healthcare SWOT ...... 7
Central America Political Environment and Risk Analysis ... 7
Central America Economic Environment and Risk Analysis . 8
Pharmaceutical Risk/Reward Ratings .. 9
Data : Americas Pharmaceutical Risk/Reward Ratings, Q312 9
Regulatory Regime ... 10
Intellectual Property Regime . 11
Costa Rica . 11
El Salvador ...... 12
Honduras .. 12
Nicaragua . 13
Panama ..... 13
Guatemala 13

Industry Developments ... 14
Regional Developments 14
Guatemala 14
Costa Rica . 15
El Salvador ...... 17
Panama ..... 18
Honduras .. 19
Nicaragua . 20
Belize . 21
Industry Trends And Developments ... 22
Epidemiology . 22
Clinical Trials Segment ... 23
Guatemala 23
Costa Rica . 23
El Salvador ...... 23
Panama ..... 24
Honduras .. 24
Nicaragua . 24
Belize . 24

Market Projection Scenario ... 25
Overall Industry Projection ..... 25
Data : Central America Pharmaceutical Sales, from 2008 to 2016 ... 26
Guatemala 26
Costa Rica . 26
El Salvador ...... 27
Honduras .. 27
Panama ..... 28
Nicaragua . 28
Belize . 29
Key Growth Factors - Market .. 30
Data : Central America Healthcare Expenditure, from 2008 to 2016 30
Guatemala 30
Costa Rica . 31
El Salvador ...... 31
Panama ..... 32
Honduras .. 32
Nicaragua . 32
Belize . 33
Key Growth Factors - Macroeconomic ... 34
Pharmaceutical Trade Projection . 39
Data : Central America Pharmaceutical Trade, from 2008 to 2016 .. 40
Guatemala 40
Costa Rica . 40
El Salvador ...... 41
Panama ..... 41
Honduras .. 41
Nicaragua . 42
Belize . 42

Competition Overview .. 43
Company Profiles ..... 44
Ancalmo Internacional ... 44
Donovan Werke 45
Glossary ...... 46
BMI Methodology ...... 48
How We Generate Our Pharmaceutical Market Projections .. 48
Pharmaceutical Risk/Reward Ratings Methodology 49
Ratings Overview .... 49
Data : Pharmaceutical Risk/Reward Indicators ...... 50
Weighting .. 51
Data : Weighting Of Components 51
Sources ..... 51

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