Peru's pharma set to benefit from population growth and FTA with USA

Although the Peruvian pharmaceutical market is the smallest of those in Business Monitor International's 's coverage of the Latin American region, nevertheless, the country offers considerable longer-term benefits to foreign companies, not least because its population is expected to top 30 million by the end of 2010.

The recently-ratified free trade agreement (FTA) with the USA is viewed as a positive development, with Peruvian businesses gaining access to the largest market in the world and US companies benefiting from improved regulatory conditions. In the meantime, the country's economic development is forecast to experience modest but steady expansion, with real Gross Domestic Product (GDP) growth and fiscal expenditure forecast to increase, providing a solid foundation for the further increase of health care and pharmaceutical expenditures.

Market will grow to $930 million in 2010, after dipping in 2009