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Overview Latin American Market
Market size: $22.4 billion
Market growth: -4% in constant local currency $
Market forecast 1998-2002: 8% CAGR
The Latin American Market for
pharmaceuticals experienced considerable turmoil in 1999,
with an overall decrease in growth compared to double digit
growth up until 1997.
The Brazilian market, the 8th largest in the world fell by
-26% in 1999, but still remained the largest market in the
region. Many countries in the region had a problematic year,
with Brazil, Colombia and Argentina all declining, but good
growth was displayed in Mexico and Venezuala
In
1999, the Brazilian economy experienced considerable turmoil
with the value of its currency, the Real, seesawing in value.
Since 1997 austere fiscal and monetary policies, and severe
fluctuations in its currency have exacted a high price on
Brazil's economy with a rapid deceleration in economic growth.
However, the outlook for 2000 is more positive. Around 50%
of the population is forecast to be covered by private healthcare
plans by 2004, growth abetted by the government reforms of
the health system focusing on the creation of the new national
healthcare monitoring agency (ANVS) to increase controls on
the pharmaceutical market and new regulatory controls on private
health plans.
The Mexican market experienced a 23% US dollar growth rate
during 1999 with sales increasing to $4.9 billion. There is
a general trend in Mexico towards deregulation and decreasing
government interference, in line with global trends and the
requirements of the NAFTA treaty with the USA and Canada.
Mexico is also adopting international standards on intellectual
property protection.
However, the country is faces the problems of an ageing population,
increasing healthcare costs and growing demand by a more educated
public for higher standards of healthcare and better treatments.
Detailed
reports of sales for the Top 20 Corporations,
Products,
Countries
and Therapy
Areas in 1998 and 1999 are available to buy online.
*Source:
World Review 2000.
Please note Data
collection, values and definitions.
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