BMI View: A growing burden of chronic diseases, along with the Colombian government's push toward improving its national healthcare system will ensure the country's retained appeal to multinational drugmakers and healthcare suppliers. Despite remaining concerns surrounding Colombia's counterfeit drug market, the country's overwhelming demand for medical access will keep health and medicine spending on a positive trajectory over the long term.
Headline Expenditure Projections
Pharmaceuticals: COP8,643bn (USD4.3bn) in 2014 to COP9,110bn (USD3.6bn) in 2015; +5.4% in local currency terms. F orecast revised upward from Q 2 15 due to historical data.
Healthcare: COP53,417bn (USD26.7bn) in 2014 to COP57,414bn (USD22.4bn) in 2015; +7.5% in local currency terms. Forecast revised upward from Q 2 15 due to historical data.
In our Q415 regional Risk/Reward Index, Colombia has maintained seventh place out of 19 markets surveyed in the Americas region. The country's overall Risk/Reward score was 50.3, just above the regional average of 48.7. Colombia boasts above-average Rewards and Risks, although we caution that the country's intellectual property regime will continue to represent barriers to multinational involvement. Nevertheless, Colombia will continue to be of interest from a longer term point of view, not least on account of its substantial population numbers.
Key Trends and Developments
A commission of German experts, led by Parliamentarian Karl Lauterbach, visited Colombia to share their expertise on their home country's social security system. The delegation participated in a forum titled 'Germany Colombia: similar health systems, a lot to learn,' an initiative of Colombia's health and social protection ministry.
Colombia's Ministry of Health is set to release additional funds worth USD50bn to expand hospital infrastructure in the country in H215, according to Deputy Minister of Public Health and Service Fernando Ruiz...
The Colombia Pharmaceuticals & Healthcare Report features BMI Research's forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Colombia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Colombia pharmaceutical and healthcare industry.
- Benchmark BMI's pharmaceutical and healthcare market forecasts for Colombia, to test other views - a key input for successful budgeting and strategic business planning in the Colombian pharmaceutical and healthcare market.
- Target business opportunities and risks in the Colombian pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Colombia.
- Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.
BMI Industry View
An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.
BMI Industry Forecast Scenario
Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
- Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
- Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
- Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
- Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
- OTC Drug Market: OTC sales (USDbn & % of total sales).
- Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.
BMI’s Pharmaceuticals and Healthcare Risk Reward Index
BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.
A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.
The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.