Market Report, "Peru Pharmaceuticals & Healthcare Report Q4 2010", published

Oct. 7, 2010 - PRLog -- Latin America's fastest-growing economy expanded by 8.8% in the year to March 2010 and by 9.2% in the year to May, helping create a surge in tax revenue. The country's pharmaceutical sector is relatively small for the size and performance of its economy, presenting strong prospects for growth in the medium term. Indeed, enviably robust economic growth, controlled inflation and well-managed currency volatility has partly led to an upward revision in BMI's forecasts for Peru's drugs expenditure. In 2010, we calculate that drug expenditure will reach a value of PEN3.50bn (US$1.25bn), 12.74% up on the previous year.

Growth in healthcare spending will largely be driven by demand from the public sector, as the government benefits from a strong economic rebound and growing tax revenue, although the public sector's overall share of expenditure will not rise dramatically. Public sector health expenditure is expected to increase to a value of PEN16.1bn (US$6.2bn) by 2014, from PEN10.5bn (US$3.5bn) in 2009, equating to a local currency compound annual growth rate (CAGR) of 8.95% - outpacing the growth rate of overall healthcare expenditure. This will be partly driven by increasing health insurance costs for the country's sizeable poor communities. The government's Universal Underwriting (AUS), designed for residents classified as living in poverty, was extended to 11 districts of Lima and Callao in August 2010.

With local elections scheduled for October 2010, however, we caution that the picture is becoming increasingly volatile. With discontent steadily on the rise in regions previously considered strongholds for the left-leaning candidate Ollanta Humala in the 2006 presidential election, the risks of both ongoing public unrest and the potential rise of less investor-friendly municipal governments are becoming increasingly pronounced in some areas. With local reports indicating that over 100 towns have now tried to stop investment projects from proceeding apace, and several surveys showing Peruvians becoming increasingly disenchanted with how the economy's recent boom has not translated into greater income equality, we believe operational risk amid the threat of public unrest will remain a key threat for numerous foreign firms through the medium term. Heading into October's elections, the risks of local politicians attempting to foment strike action - which healthcare workers are increasingly given to - by playing on the electorate's discontent is certainly pronounced in our view.

Peru signed a free trade agreement with the European Free Trade Association in July 2010, which should significantly increase the overall value of exports to the four countries. The signing follows the European Union (EU)'s agreement with Peru and Colombia, in which the EU reportedly relinquished its push for an 11-year period of test data exclusivity, with the final agreement on intellectual property (IP) protection now established at five years.

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Partial Table of Contents:

Executive Summary
SWOT Analysis
- Peru: Pharmaceuticals And Healthcare Industry SWOT
- Peru Political SWOT Analysis
- Peru Economic SWOT Analysis
- Peru Business Environment SWOT Analysis
Pharmaceutical Business Environment Ratings
- Table: Americas - Regional Pharmaceutical Business Environment Ratings, Q410
- Rewards
- Risks
Peru - Market Summary
Regulatory Regime
Recent Regulatory Developments
- Intellectual Property Regime
- IP Shortcomings
- Counterfeit Pharmaceuticals
- Trade Agreements
- Pricing Regime
- Government Tenders
- Reimbursement Regime
- Other Regulatory Issues
Industry Developments
- Epidemiology
- Non-Communicable Diseases
- Communicable Diseases
- Recent Public Health Developments
- Healthcare Sector
- Healthcare Finances
- Healthcare Provision
- Table - Key Goals of Parsalud II in Nine Regions*
- Health Insurance
- Pharmaceutical Distribution And Retail
- Clinical Trials
- Medical Devices
Industry Forecast Scenario
- Overall Market Forecast
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic
- Table: Peru - GDP By Expenditure
- Prescription Drug Market Forecast
- Patented Drug Market Forecast
- Generic Drug Market Forecast
- OTC Medicine Market Forecast
- Medical Device Market Forecast
- Pharmaceutical Trade Forecast
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Sector
- Table: Peruvian Pharmaceutical Companies That Acquired GMP Accreditation In 2006
- Domestic Industry
- Recent Company Activity
Company Profiles
- Indigenous Manufacturer Profiles
- Farmaindustria
- Unimed
- Hersil
- Leading Multinationals
- Sanofi-Aventis
- Merck & Co
- GlaxoSmithKline
- Novartis
- Pfizer
- AstraZeneca
Country Snapshot: Peru Demographic Data
- Section 1: Population
- Section 2: Education And Healthcare
- Section 3: Labour Market And Spending Power
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Manufacturing Wages, 2000-2012
BMI Methodology
- How We Generate Our Pharmaceutical Industry Forecasts

Full Table of Contents is available at:
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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.