Despite limited size, Chile's pharma market offers growing opportunity
By the end of 2014, the Chilean pharmaceutical market is expected to be worth $2 billion, increasing at a compound annual growth rate (CAGR) of 11.3% over the next five years (to 2018).
This growth comes as Chile experienced gross domestic product (GDP) increase of 4.8% in 2013 and 4.9% expected over the next three to five years, according to a new report from Decision Resources Group. Chile's pharmaceutical landscape is small but highly competitive. The pharmaceutical market is dominated by prescription drugs, with a smaller share of the market for non-prescription, over-the-counter medicines.
Other key findings from the Market Access Tracker report, titled Chile Market Access Tracker, include:
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