Espicom's in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year. Peru is often overlooked when discussing the rapid-growth economies of South America. While it has neither the size nor the wealth of Brazil or Argentina, the country has a population which will exceed 30 million in 2010, and is expected to record moderate economic growth between 2007 and 2012. Per capita wealth has risen, especially in and around Lima. This has led to the emergence of a sizeable urban population which demands improved healthcare, and increasingly has the ability to pay for it.

The pharmaceutical market has increased slowly, although it is highly reliant on out-of-pocket expenditure. Production is mainly undertaken by local producers of branded generics or generics under International Common Denomination (ICD). Major local producers include Farmindustria, Medifarma, Magma and Hersil in the pharmacy sector; and Infarmasa, Instituto Quimioterápico, Hersil and SJR in the hospital sector.

The number of pharmaceutical registrations reached a cumulative total of nearly 14,000 in 2004, of which 50% were branded generics, 33% generics under ICD and 17% original drugs. However, less than 5,000 product registrations are actually marketed. While the 1994 legislation has done much to strengthen intellectual property (IP) rights, the country remains less than fully TRIPS-compliant. This is expected to change when the US Congress approve the USA-Peru Trade Promotion Agreement.

Peru liberalised the drug pricing system in the 1990s, which has resulted in high drug price increases, particularly of original drugs. To control prices, the Ministry of Health (MINSA) has created an ‘observatory of drug prices'. Pharmaceutical producers, importers and distributors have strong distribution systems, directly distributing around 25% of the market value and 33% of the market volume. Major distributors include Química Suiza, Albis and Drokasa. Leading pharmacy chains include Boticas Fasa, BYL, ECKERD and BTL.