Healthcare, Regulatory and Reimbursement Landscape - Venezuela

149pages

Published Date: December 2012

Published By: GlobalData

Category: Healthcare
Description


Healthcare, Regulatory and Reimbursement Landscape Venezuela

Summary

GlobalData, the industry analysis specialist, has released its new report, Healthcare, Regulatory and Reimbursement Landscape Venezuela. The report is an essential source of information and analysis on the healthcare, regulatory and reimbursement landscape of Venezuela. The report identifies the key trends in the healthcare market of Venezuela. The report also provides insights into the demographic, regulatory and reimbursement landscapes and the healthcare infrastructure of Venezuela. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical market. This report is built using data and information sourced from proprietary databases, secondary research and in-house analysis by GlobalDatas team of industry experts.

Venezuela was the 45th most populated country in the world with a population of approximately 28 million in 2012. The population of Venezuela is increasing due to the high birth rate and low mortality rate as well as an increase in life expectancy. The increase in the working-age population supports the country in its development while the increasing elderly population is a matter of concern for policy planners. The pharmaceutical market in Venezuela was estimated at $7 billion in 2011 and is expected to reach approximately $35.2 billion by 2020 at a projected Compound Annual Growth Rate (CAGR) of 19.7% between 2012 and 2020. However, the Venezuelan currency was depreciated by the government for pharmaceutical products in 2011. Therefore, GlobalData estimates that the pharmaceutical market will be depreciated and valued at $4.2 billion in 2011, and will reach $8.5 billion in 2020 at a CAGR of 8.2% from 2006 to 2020.

  • The positive trend in the healthcare market of Venezuela can be attributed primarily to 
  • The increasing elderly population
  • Increasing access to healthcare facilities
  • Government initiatives in the healthcare sector 
  • The increasing affordability of healthcare

Scope

The report provides information on the healthcare, regulatory and reimbursement landscape of Venezuela. The scope includes 
  • An overview of the pharmaceutical market of Venezuela including the market size, market segmentation, key drivers and barriers for the market.
  • Profile and SWOT analysis of the major players in the pharmaceutical market. Key players covered for the pharmaceutical market are Pfizer, GlaxoSmithKline, Sanofi, Novartis and Groupo Farma. 
  • An insightful review on the reimbursement and regulatory landscape. Analysis includes details of the healthcare reimbursement process, regulatory agencies and the marketing authorization process for new drugs and medical devices for Venezuela.
  • A detailed analysis of the political and economic environment of Venezuela, including the economic indicators, demographics, healthcare infrastructure and healthcare expenditure. 
  • An overview of the opportunities and challenges for growth that exist in the healthcare market of Venezuela.

Reasons to buy

This report comprehensively covers the pharmaceutical market of Venezuela. The report will enhance your decision making capability. It will allow you to 
  • Develop business strategies by understanding the trends shaping and driving the healthcare market of Venezuela. 
  • Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact the Venezuelan healthcare market in future. 
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the performance of various competitors. 
  • Organize your sales and marketing efforts by identifying the market categories and segments that present the biggest opportunities for consolidations, investments and strategic partnerships. 
  • Identify, understand and capitalize on the opportunities and challenges in the healthcare market of Venezuela.

 

 

Table of Contents

1 Table of Contents
1 Table of Contents 5
1.1 List of Tables 7
1.2 List of Figures 8

2 Introduction 10
2.1 Report Guidance 10

3 Overview of the Pharmaceutical and Medical Devices Market 11
3.1 Pharmaceutical Market 11
3.1.1 Market Overview 11
3.1.2 Supply Channels 14
3.1.3 Market Segments 16
3.1.4 Major Disease Areas 19
3.1.5 Major Players 20
3.2 Medical Device Market 46
3.2.1 Market Overview 46
3.3 Market Drivers and Barriers 46
3.3.1 Drivers 46
3.3.2 Barriers 47

4 Market Access 49
4.1 Reimbursement and Payer Landscape 49
4.1.1 Reimbursement Process 52
4.1.2 Overview of Insurance Providers 53
4.1.3 Patient Share in Healthcare Spending 54
4.1.4 Price Trend for Medicines 55
4.2 Regulatory Landscape 56
4.2.1 Overview of Regulatory Agencies 56
4.2.2 Registration Procedure for New Drug 56
4.2.3 Medical Device Approval Process 58
4.2.4 Licensing Process for Pharmaceutical Manufacturing 58
4.2.5 Licensing Process for Pharmaceutical Exports and Imports 59
4.2.6 Intellectual Property Rights 59
4.2.7 Clinical Trial Regulations 64
4.2.8 Pharmaceutical Advertising Regulations 66
4.2.9 Pharmacy Regulations 67
4.2.10 Labeling and Packaging Regulations 68

5 Country Analysis 70
5.1 Political Environment 70
5.1.1 Political Structure 70
5.1.2 Analysis of the Current Political Environment 71
5.1.3 Healthcare Policy Initiatives 72
5.2 Economic Landscape 72
5.3 Economic Indicators 74
5.3.1 Gross Domestic Product 74
5.3.2 Gross National Income 78
5.3.3 Inflation 79
5.3.4 Currency Exchange Rate 83
5.3.5 Foreign Direct Investment 85
5.3.6 Foreign Exchange Reserves 86
5.3.7 Trade Balance 87
5.3.8 Government Structural Balance 89
5.3.9 Government Gross Debt 91
5.3.10 Major Industries 93
5.4 Demography 94
5.4.1 Population 94
5.4.2 Education and Literacy 113
5.4.3 Employment 115
5.4.4 Disease Burden 117
5.5 Healthcare Infrastructure 118
5.5.1 Healthcare Facilities 118
5.5.2 Healthcare Parameters 124
5.5.3 Environmental Health 126
5.6 Healthcare Expenditure 130
5.6.1 Overview 130
5.6.2 Share of Public and Private Sectors 131
5.6.3 Spending in Healthcare R&D 131
5.7 Trade Associations 132
5.7.1 Venezuelan Chamber of Medicine 132
5.7.2 Chamber of Pharmaceutical Industry 132
5.7.3 Chamber of Non-prescription Medicines 132
5.7.4 Venezuelan Association of Distributors of Medical Equipment, Dental Laboratories and Allied 132
5.7.5 Venezuelan Chamber of Pharmacy 132

6 Opportunities and Challenges 133
6.1 Opportunities 133
6.2 Challenges 134

7 Appendix 136
7.1 Abbreviations 136
7.2 Bibliography 139
7.3 -Methodology 147
7.3.1 Coverage 147
7.3.2 Secondary Research 147
7.3.3 Forecasting 148
7.3.4 Primary Research 148
7.3.5 Expert Panel Validation 148
7.4 Contact Us 148
7.5 Disclaimer 149


List Of Figures


Figure 1: Pharmaceutical Market ($bn), Venezuela, 2006-2011 12
Figure 2: Pharmaceutical Market ($bn), Venezuela, Forecast, 2012-2020 13
Figure 3: Distribution Channels, Venezuela, 2011 15
Figure 4: Drivers and Barriers, Healthcare Market, Venezuela, 2011 48
Figure 5: History of the Healthcare System, Venezuela, 2011 51
Figure 6: Healthcare Spending, Venezuela, Patient's Share (%), 2005-2010 54
Figure 7: Price Trend for Medicines and Medical Devices (%), Venezuela, 2008-2011 55
Figure 8: Registration Procedure for New Drug, Venezuela, 2012 57
Figure 9: Patent Approval Process, Venezuela, 2012 61
Figure 10: Trademark Approval Process, Venezuela, 2012 63
Figure 11: Clinical Trial Regulation Process, Venezuela, 2012 65
Figure 12: Format of Advertisement, Venezuela, 2012 67
Figure 13: GDP Per Capita ($), Venezuela, 2006-2011 74
Figure 14: GDP Per Capita ($), Venezuela, Forecast, 2012-2020 75
Figure 15: GDP, Venezuela, Annual Growth (%), 2006-2011 76
Figure 16: GDP, Venezuela, Annual Growth (%), Forecast, 2012-2020 77
Figure 17: GNI Per Capita ($), Venezuela, 2005-2010 78
Figure 18: Average Consumer Price Index, Venezuela, 2006-2011 79
Figure 19: Average Consumer Price Index, Venezuela, Forecast, 2012-2020 80
Figure 20: Average Consumer Price, Venezuela, Annual Change (%), 2006-2011 81
Figure 21: Average Consumer Price, Venezuela, Annual Change (%), Forecast, 2012-2020 82
Figure 22: Currency Exchange Rate (VEB/$), Venezuela, 2005-2007 83
Figure 23: Currency Exchange Rate (VEF/$), Venezuela, 2008-2011 84
Figure 24: Foreign Direct Investment ($bn), Venezuela, 2005-2010 85
Figure 25: Foreign Exchange Reserves ($bn), Venezuela, 2006-2011 86
Figure 26: Imports of Goods and Services ($bn), Venezuela, 2006-2011 87
Figure 27: Exports of Goods and Services ($bn), Venezuela, 2006-2011 88
Figure 28: General Government Structural Balance ($bn), Venezuela, 2006-2011 89
Figure 29: General Government Structural Balance ($bn), Venezuela, Forecast, 2012-2020 90
Figure 30: Government Gross Debt ($bn), Venezuela, 2006-2011 91
Figure 31: Government Gross Debt ($bn), Venezuela, Forecast, 2012-2020 92
Figure 32: Major Industries, Venezuela, GDP ($bn), 2011 93
Figure 33: Population (m), Venezuela, 2006-2011 95
Figure 34: Population (m), Venezuela, Forecast, 2012-2020 96
Figure 35: Urban and Rural Population, Venezuela, Share (%), 2005-2010 97
Figure 36: Age Groups, Venezuela, Population Distribution (%), 2006-2011 99
Figure 37: Age Groups, Venezuela, Population Distribution (%), Forecast, 2012-2020 100
Figure 38: Births (Per 1,000 Population), Venezuela, 2006-2011 101
Figure 39: Births (Per 1,000 Population), Venezuela, Forecast, 2012-2020 102
Figure 40: Mortality (Per 1,000 Population), Venezuela, 2006-2011 103
Figure 41: Mortality (Per 1,000 Population), Venezuela, Forecast, 2012-2020 104
Figure 42: Major Causes of Mortality (Number of Deaths, 000s), Venezuela, 2008 105
Figure 43: Children <5 Years Age, Venezuela, Mortality (Per 1,000 Live Births), 2005-2010 107
Figure 44: Immunization Rate (%), Venezuela, 2005-2010 108
Figure 45: Major Causes of Male Mortality (Number of Deaths, 000s), Venezuela, 2008 109
Figure 46: Major Causes of Female Mortality (Number of Deaths, 000s), Venezuela, 2008 110
Figure 47: Gender Ratio (Males Per 100 Females), Venezuela, 2006-2011 111
Figure 48: Life Expectancy at Birth (Years), Venezuela, 2006-2011 112
Figure 49: Levels of School Education, Venezuela, Enrolment Rate (%), 2005-2010 113
Figure 50: Levels of Education, Venezuela, Students Enrolled, 2005-2010 114
Figure 51: Unemployment Rate (%), Venezuela, 2006-2011 115
Figure 52: Employment Sector, Venezuela, Employee (000s), 2011 116
Figure 53: Major Diseases, Venezuela, DALY (Per 100,000 Population), 2004 117
Figure 54: Public Hospitals, Venezuela, 2005-2010 119
Figure 55: Hospitals by Standard of Care, Venezuela, Share (%), 2010 120
Figure 56: Ambulatory Facilities, Venezuela, Urban and Rural Share (%), 2010 121
Figure 57: Hospitals by Bed Size, Venezuela, Share (%), 2010 122
Figure 58: Diagnostic Facilities, Venezuela, 2005-2010 123
Figure 59: Hospital Beds (Per 1,000 Population), Venezuela, 2005-2010 124
Figure 60: Number of Physicians (Per 10,000 Population), Venezuela, 2005-2010 125
Figure 61: Environmental Attributable Deaths (Per 100,000 Population), Venezuela, 2004 126
Figure 62: PM10 (Micrograms Per Cubic Meter), Venezuela, 2005-2010 127
Figure 63: CO2 Emissions (Million Tons), Venezuela, 2005-2010 129
Figure 64: Healthcare Expenditure (% of GDP), Venezuela, 2005-2010 130
Figure 65: Healthcare Expenditure, Venezuela, Public-Private Share (%), 2005-2010 131
Figure 66: Opportunities and Challenges, Healthcare Market, Venezuela, 2012 135


List Of Tables


Table 1: Pharmaceutical Market ($bn), Venezuela, 2006-2011 12
Table 2: Pharmaceutical Market ($bn), Venezuela, Forecast, 2012-2020 13
Table 3: Drugs Going Off-patent, Revenues ($bn), Global, 2011-2015 17
Table 4: Major Products, Pfizer, Global, Revenue ($m), 2011 21
Table 5: Late-stage Pipeline, Pfizer, 2012 21
Table 6: Major Products, GlaxoSmithKline, Global, Revenue ($m), 2011 26
Table 7: Late Stage Pipeline, GlaxoSmithKline, 2012 27
Table 8: Major Products, Sanofi, Global, Revenue ($m), 2011 32
Table 9: Late-stage Pipeline, Sanofi, 2012 33
Table 10: Major Products, Novartis, Global, Revenue ($m), 2011 37
Table 11: Planned Filings, Novartis, 2012-2016 38
Table 12: Major Products, Groupo Farma, 2012 43
Table 13: Healthcare Spending, Venezuela, Patient's Share (%), 2005-2010 54
Table 14: Price Trend for Medicines and Medical Devices (%), Venezuela, 2008-2011 55
Table 15: GDP Per Capita ($), Venezuela, 2006-2011 74
Table 16: GDP Per Capita ($), Venezuela, Forecast, 2012-2020 75
Table 17: GDP, Venezuela, Annual Growth (%), 2006-2011 76
Table 18: GDP, Venezuela, Annual Growth (%), Forecast, 2012-2020 77
Table 19: GNI Per Capita ($), Venezuela, 2005-2010 78
Table 20: Average Consumer Price Index, Venezuela, 2006-2011 79
Table 21: Average Consumer Price Index, Venezuela, Forecast, 2012-2020 80
Table 22: Average Consumer Price, Venezuela, Annual Change (%), 2006-2011 81
Table 23: Average Consumer Price, Venezuela, Annual Change (%), Forecast, 2012-2020 82
Table 24: Currency Exchange Rate (VEB/$), Venezuela, 2005-2007 83
Table 25: Currency Exchange Rate (VEF/$), Venezuela, 2008-2011 84
Table 26: Foreign Direct Investment ($bn), Venezuela, 2005-2010 85
Table 27: Foreign Exchange Reserves ($bn), Venezuela, 2006-2011 86
Table 28: Imports of Goods and Services ($bn), Venezuela, 2006-2011 87
Table 29: Exports of Goods and Services ($bn), Venezuela, 2006-2011 88
Table 30: General Government Structural Balance ($bn), Venezuela, 2006-2011 89
Table 31: General Government Structural Balance ($bn), Venezuela, Forecast, 2012-2020 90
Table 32: Government Gross Debt ($bn), Venezuela, 2006-2011 91
Table 33: Government Gross Debt ($bn), Venezuela, Forecast, 2012-2020 92
Table 34: Major Industries, Venezuela, Gross Domestic Product ($bn), 2011 93
Table 35: Population (m), Venezuela, 2006-2011 95
Table 36: Population (m), Venezuela, Forecast, 2012-2020 96
Table 37: Urban and Rural Population, Venezuela, Share (%), 2005-2010 97
Table 38: Age Groups, Venezuela, Population Distribution (%), 2006-2011 99
Table 39: Age Groups, Venezuela, Population Distribution (%), Forecast, 2012-2020 100
Table 40: Births (Per 1,000 Population), Venezuela, 2006-2011 101
Table 41: Births (Per 1,000 Population), Venezuela, Forecast, 2012-2020 102
Table 42: Mortality (Per 1,000 Population), Venezuela, 2006-2011 103
Table 43: Mortality (Per 1,000 Population), Venezuela, Forecast, 2012-2020 104
Table 44: Major Causes of Mortality (Number of Deaths, 000s), Venezuela, 2008 106
Table 45: Children <5 Years Age, Venezuela, Mortality (Per 1,000 Live Births), 2005-2010 107
Table 46: Immunization Rate (%), Venezuela, 2005-2010 108
Table 47: Major Causes of Male Mortality (Number of Deaths, 000s), Venezuela, 2008 109
Table 48: Major Causes of Female Mortality (Number of Deaths, 000s), Venezuela, 2008 110
Table 49: Gender Ratio (Males Per 100 Females), Venezuela, 2006-2011 111
Table 50: Life Expectancy at Birth (Years), Venezuela, 2006-2011 112
Table 51: Levels of School Education, Venezuela, Enrolment Rate (%), 2005-2010 114
Table 52: Levels of Education, Venezuela, Students Enrolled, 2005-2010 114
Table 53: Unemployment Rate (%), Venezuela, 2006-2011 115
Table 54: Employment Sector, Venezuela, Employee (000s), 2011 116
Table 55: Major Diseases, Venezuela, DALY (Per 100,000 Population), 2004 117
Table 56: Public Hospitals, Venezuela, 2005-2010 119
Table 57: Hospitals by Standard of Care, Venezuela, Share (%), 2010 120
Table 58: Ambulatory Facilities, Venezuela, Urban and Rural Share (%), 2010 121
Table 59: Hospitals by Bed Size, Venezuela, Share (%), 2010 122
Table 60: Diagnostic Facilities, Venezuela, 2005-2010 123
Table 61: Hospital Beds (Per 1,000 Population), Venezuela, 2005-2010 124
Table 62: Number of Physicians (Per 10,000 Population), Venezuela, 2005-2010 125
Table 63: Environmental Attributable Deaths (Per 100,000 Population), Venezuela, 2004 126
Table 64: PM10 (micrograms per cubic meter), Venezuela, 2005-2010 127
Table 65: CO2 Emissions (Million Tons), Venezuela, 2005-2010 129
Table 66: Healthcare Expenditure (% of GDP), Venezuela, 2005-2010 130
Table 67: Healthcare Expenditure, Venezuela, Public-Private Share (%), 2005-2010 131

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