BMI View: Argentina will remain one of Latin America's most attractive markets for multinationalpharmaceutical firms over the forecast period. This is supported by the relatively high spending per capitaon medicine, as well as the rising demand for chronic disease treatment. Moreover, ongoing improvementsto the regulatory environment pose upside risks to patented medicine sales.
Headline Expenditure Projections
Pharmaceuticals: ARS80.27bn (USD5.43bn) in 2016 to ARS97.10bn (USD5.88bn) in 2017; +21.0% inlocal currency terms and +8.2% in US dollar terms. Forecast in line with last quarter.
Healthcare: ARS342.15bn (USD23.15bn) in 2016 to ARS415.08bn (USD25.13bn) in 2017; +21.3% inlocal currency terms and +8.5% in US dollar terms. Forecast in line with last quarter.
Argentina stands among the most promising pharmaceutical markets in Latin America in terms of growth,as reflected in its score of 62.5 out of 100 in BMI's Innovative Pharmaceuticals Risk/Reward Index. This issupported by the relatively high spending per capita on medicine and favourable demographic trends.
Argentina will remain a high risk market to innovative drugmakers in the short term due to a subduedregulatory environment and ongoing price controls.