BMI View: Despite the delicate macroeconomic situation in Central America, the pharmaceutical market - consisting of the seven markets of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Panama and Belize – is set to grow. Local authorities’ emphasis on healthcare investment should translate into higher consumption of medicines. However, the region’s low per capita pharmaceutical spending and generic drugs’ high market share has limited multinationals’ growth potential in the region. Headline Expenditure Projections ? Pharmaceuticals: US$3.5bn in 2012 to US$3.7bn in 2013; +4.9%. Our forecast has been revised slightly upwards since Q413 due to more optimistic macroeconomic data.
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