Panama Pharmaceuticals and Healthcare Report Q4 2017
On a cyclical basis, Panama's robust economic growth poses upside risk to pharmaceuticalsand healthcare sector growth over a multi-quarter horizon. Despite a small population size by regionalstandards, Panama will continue to create commercial opportunities for foreign drugmakers given risingdemand for chronic disease treatment and the limited local drug manufacturing capacity. However, genericmedicine usage will remain relatively high despite high spending per capita on medicine, while recurrentdrug shortages and public procurement inefficiencies will continue to hinder the health sector.
Headline Expenditure Projections
Pharmaceuticals: USD706mn in 2016 to USD747mn in 2017; +5.9% in US dollar terms. Forecast inline with the last quarter.
Healthcare: USD4.42bn in 2016 to USD4.82bn in 2017; +9.0% in US dollar terms. Forecast in line withthe last quarter.
In September 2017, the Office of the Comptroller General of the Republic authorised the purchase ofmore than USD20mn in medicines for patients with chronic diseases that are treated under the CSSSocial Security Fund, amid a crisis of drug shortages in the institution.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook