Venezuela Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

Venezuela Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

Summary

GlobalData, the industry analysis specialist, has released its latest report: “Venezuela Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape”. The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Venezuela. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.

The Venezuelan pharmaceutical market used to be one of the most prosperous markets in the world. However, since 2018, its expansion has been substantially hindered by political and economic challenges. The healthcare system's disintegration and hyperinflation have a significant impact on the pharmaceutical sector. The Venezuelan pharmaceutical market in terms of sales value was projected to grow from $10.5 billion in 2014 to $115.1 billion in 2021. The Venezuelan OTC medicines market was worth $0.6 billion in 2011 which is projected to increase at a CAGR of 32% to $10.9 billion in 2021. On March 30, 2021, the Venezuelan Ministry of People's Power for Health (MPPS) and the Russian Federal State Institution (FSI), ""State Institute of Drugs and Good Practices"" signed an agreement in Caracas. Pharmaceutical inspectors from both nations will work together on long-term initiatives involving the sharing of information, involvement in regulatory inspections for Good Manufacturing Practice (GMP) regulation compliance, and the battle against counterfeit medications in both countries.

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Venezuela, and includes -

• An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
• Profiles and SWOT analyses of the major players in the pharmaceutical market: Roche, Pfizer, GSK, Novartis, and Bayer.
• Profiles and SWOT analyses of the major players in the medical device market: Roche, Fresenius, Medtronic, Abbott, and Coloplast.
• An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in the healthcare market, HealthTech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices.
• Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure, and healthcare expenditure.
• An overview of the opportunities for and challenges to growth in the Venezuelan healthcare market.

• Develop business strategies by understanding the trends shaping and driving Venezuelan healthcare market
• Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact Venezuelan healthcare market in the future
• Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
• Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership