Puerto Rico pharma market set to grow at CAGR of 3.37%, reaching $3.2 billion in 2014

In Business Monitor International's updated second-quarter 2010 Business Environment Rating (BER) matrix for the 10 major pharmaceutical markets in the Americas, Puerto Rico, the US-affiliated territory, remains placed third, below the USA and Canada.

While the territory has a well-developed regulatory environment and extremely close political relations with the USA, its domestic market potential is limited by a small population, as well as the considerably higher longer-term potential of emerging, rival manufacturing locations in Latin America or Asia. Therefore, Puerto Rico is likely to slip further down the matrix over the coming years, as Brazil and Mexico, for example, gain in attractiveness to foreign players looking to expand.

Multinationals have closed plants