Argentina Pharmaceuticals & Healthcare Report Q2 2013 - New Study Released

From: Fast Market Research, Inc.
Published: Wed May 01 2013

The unattractiveness of Argentina's pharmaceutical market will remain at a similar level in Q213 compared with previous quarters. The strict currency and import restrictions, as well as poor regulatory regime, have still been unaddressed. A potential currency devaluation in the future will increase Argentina's export of medicines to a certain extent, if the country's structural distorting policies have not eroded its local pharmaceutical production capacity.

Headline Expenditure Projections

Pharmaceuticals: ARS39.4bn (US$8.7bn) in 2012 to ARS49.4bn (US$8.9bn) in 2013; +25.3% in local currency terms and 2.7% in US dollar terms. The forecast figures have been decreased since Q113 due to exchange rate fluctuations from previous years, and high inflation rate forecast for 2013.

Healthcare: ARS198.7bn (US$43.7bn) in 2012 to ARS248.5bn (US$44.8bn) in 2013; +25.1% in local currency terms and +2.5% in US dollar terms. The forecast figures have been increased since Q113 due to over 25% inflation rate forecast for 2013 .

Full Report Details at

Risk/Reward Rating: Argentina remains in eighth place in BMI's RRRs in Q213. This is also the case for all other countries in BMI's proprietary system, which ranks pharmaceutical markets according to attractiveness to multinational drugmakers. A minor re-weighting of one of the RRR components is being implemented to improve the tool, and the adjusted scores for all markets will be published in the Q313 updates of the Pharmaceuticals & Healthcare reports. Argentina's pharmaceutical market is expected to grow at double-digit rates through to 2016 in local currency terms, largely due to inflation.

Key Trends And Developments

* A free programme for early detection of breast cancer in women aged between 40 and 65 will be organised by Asociacion Civil Ayuda al Paciente Oncologico (ACIAPO) Foundation and UK-based drugmaker GlaxoSmithKline (GSK) from October 1 2012 in the La Cava neighbourhood of Argentine capital Buenos Aires..
* In October 2012, 12 provinces in Argentina have joined the National Traceability System of Medicines since it was established in April 2011. The traceability scheme was set up to protect the quality of the supply chain in the drug production process.

BMI Economic View: We believe that the slowing in Argentina's 2012 real GDP growth presages further deceleration in 2013, and forecast that growth will slow from 2.8% to 0.9%, the lowest level since 2009. A poor business environment, weakening domestic demand and high inflation - the result of a large currency devaluation - will drive this slowdown, before a more sound policy course and base effects result in growth trending upward from 2014-2017.

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