BMI View: Ecuador's pharmaceutical market will remain challenging for multinational drugmakers andoffers limited investment prospects. However, government initiatives to create a more favourable businessenvironment are underway, which bodes well for Ecuador's long-term pharmaceutical market potential.
Healthcare service provision in Ecuador will continue to improve steadily, and opportunities for privatesector growth will be supported by the rise in medical tourism.
Headline Expenditure Projections
Pharmaceuticals: USD1.68bn in 2016 to USD1.78bn in 2017; +6.0% in US dollar terms. Forecast inline with Q317.
Healthcare: USD10.3bn in 2016 to USD10.8bn in 2018; +5.6% in US dollar terms. Forecast unchangedfrom Q317.
In July 2017, Ecuador announced that it intends to negotiate a preferential free trade agreement (FTA)with India, under which both will reduce or eliminate customs duties on a number of products, includingpharmaceuticals.