Recently released market study: Puerto Rico Pharmaceuticals & Healthcare Report Q3 2010

New Healthcare research report from Business Monitor International is now available from Fast Market Research
 
July 7, 2010 - PRLog -- Puerto Rico's pharmaceutical market was worth US$2.71bn in 2009 and BMI forecasts this figure to grow at compound annual growth rate (CAGR) of 3.5% through to 2014, reaching a value of US$3.22bn. We project that this CAGR will decrease slightly to 2.8% over the longer, 10-year forecast period to 2019, when the market is expected to be worth US$3.69bn or US$879 per capita. Furthermore, drug expenditure as a percentage of GDP is set to decrease at a rate of -1.8% from 4.3% in 2009 to 3.2% in 2019.

The unremarkable growth rate forecast for the coming decade comes as Puerto Rico's fiscal profile is in a perilous situation, with tax revenues falling 7.9% in 2008 and 7.0% in 2009. The unemployment rate spiked again in January 2010 to 15.8%, having dipped to 14.3% in December 2009. BMI's Country Risk team believe the rate will drop slightly to 14.0% by year-end as the economy records flat real GDP growth after three successive years of unemployment problems. It is BMI's view that with the government committed to continuing to cut jobs across the island's public sector, tough times remain in store for the territory's workforce.

In BMI's updated Q310 Business Environment Ratings (BER) matrix for the Americas, Puerto Rico remains third - below the US and Canada - with a pharmaceutical rating of 65.1, which corresponds to a global ranking of 11th. The US territory has a well-developed regulatory environment and extremely close political relations with the US and its domestic market potential is limited by small population numbers. Moreover, an increasingly competitive manufacturing landscape exists in Latin America and Asia. It is therefore likely that Puerto Rico will slip further down the matrix over the next few years, as Brazil and Mexico, for example, become increasingly attractive to multinationals wishing to capitalise upon the potential of emerging markets.

Despite a string of plants operated by US multinationals being closed over the past few years, Blu Pharmaceuticals opened a new production plant in the small tourist town of Dorado. The firm benefited from incentives offered by the government to attract investment to help the country overcome its prolonged recession. Blu expects to invest US$60mn in the next three years at the US Food and Drug Administration (FDA)-approved facility. Multinational drugmakers on the island are also exploring their capabilities in biologics through various joint ventures and acquisitions, and will undoubtedly use Puerto Rico as a manufacturing base for this new pharmaceutical segment in the long run.

The passing of the healthcare reform in the US mainland is likely to have an immediate and beneficial effect on public finances in Puerto Rico, with the commonwealth's Medicaid funding set to jump 182% to US$8.62bn over the next nine years. As well as expanding access to medical services by subsidising health insurance for an estimated 500,000 uninsured workers, the increased funding will come as welcome relief to the island's government.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/71592_puerto_rico_pharmaceutic...

Partial Table of Contents:

Executive Summary
SWOT Analysis
- Puerto Rico Pharmaceuticals And Healthcare Industry SWOT
Pharmaceutical Business Environment Ratings
- Table: Americas - Regional Pharmaceutical Business Environment Ratings, Q310
- Limits to Potential Returns
- Risks to Realisation of Returns
Puerto Rico - Market Summary
Regulatory Regime
- Pricing and Reimbursement Issues
- Tax Incentives
- Table: Puerto Rico - Incentives, Benefits And Discounts For Pharmaceutical Manufacturers
- Trade Accords
Industry Developments
- Epidemiology
- Healthcare Sector
- Healthcare Financing
- Healthcare Reforms
- Pharmaceutical Wholesale and Distribution
- Recent Pharmaceutical Wholesale and Distribution Activities
- Research and Development
- Clinical Trials
- Biotechnology
- Medical Devices
- Recent Developments in Medical Devices Market
Industry Forecast Scenario
- Overall Market Forecast
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic
- Table: Puerto Rico - Economic Activity
- Prescription Market Forecast
- Patented Drug Market Forecast
- Generic Drug Market Forecast
- OTC Drug Market Forecast
- Medical Device Market Forecast
- Pharmaceutical Trade Forecast
- Other Healthcare Data Forecasts
- Key Risks to BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Industry
- Table: Puerto Rico: Multinational Downscaling
- Pharmaceutical Production
- Plant Closures
- Recent Company Developments
Company Monitor
- Pfizer
- GlaxoSmithKline
- Merck & Co
- Abbott Laboratories
- Novartis
- Sanofi-Aventis
- Eli Lilly
Country Snapshot: Puerto Rico Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education and Healthcare
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market and Spending Power
- Table: Employment Indicators, 1999-2004
- Table: Average Annual Manufacturing Wages, 2000-2012
BMI Methodology
- How We Generate Our Pharmaceutical Industry Forecasts
- Pharmaceutical Business Environment Ratings Methodology
- Ratings Overview
-

Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=7159...

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

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.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
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