Argentina pharmaceuticals market forecast to grow to $5.37 billion by 2014

The value of Argentina's pharmaceutical market is calculated to have reached 12.64 billion Argentinean pesos ($3.37 billion) in 2009, according to a new report from Business Monitor International. Through to 2014, BMI forecasts a compound annual growth rate (CAGR) of 14.36% and 9.78% in local currency and US dollar terms, with the market value topping 24.72 billion pesos ($5.37 billion).

The increased usage of generics and volume changes are expected to be the key drivers of market growth, with patented medicines share of the total market by value dropping from 56.5% in 2009 to 47.7% in 2014. In regional terms, Argentina remains the seventh most attractive market in the Americas region, with drawbacks including its challenging intellectual property (IP) and pharmaceutical pricing and procurement environments, not to mention the wider economic and political uncertainties, says BMI.

Still attractive for acquisitions