Healthcare, Regulatory and Reimbursement Landscape Venezuela
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Healthcare, Regulatory and Reimbursement Landscape
Venezuela
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Reference Code: GDHC0021CHR
Publication Date: December 2012Despite a High Proportion of the Population being in the
Working age Group, Venezuela is Dependent on Skilled
Foreign Labor for the Adequate Development of its Oil and
Healthcare Sectors
Although the Venezuelan Healthcare Market has Significant
Growth Potential, its Lack of Patent Protection Laws for
Medicines, Lack of Clarity over the Pharmaceutical
Regulatory Process, High Level of Corruption, Drug Price
Freeze Policy and Lack of Universal Healthcare Coverage
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all Negatively Impact the Interest of Foreign
Pharmaceutical Investors
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Age Groups, Venezuela, Population Distribution (%),
2006-2020
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Source: GlobalData; INE, 2012; US Census Bureau, 2012a
*Estimated Figures
GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 2
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formPharmaceutical Market ($bn), Venezuela, 2006-2020
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Source: GlobalData; CIFAR, 2007; RNV, 2012
*Estimated Figures
Political Stability in Recent Years has Resulted in the
Proper Implementation of Economic Policies and
Lack of Clarity and Transparency in the Regulatory System
Programs. However, Venezuela’s Overwhelmingly Oil-
and Language Barriers in the Drug Approval Process often
Based Economy is Vulnerable. Moreover, the Devaluation
Attempting to Register New Drugs
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Present a Challenge for Foreign Multinational Companies
of the Country’s Currency, Continued Banking
Interventions and the Nationalization of Assets in the
Petroleum, Alternative Energy and Banking Sectors have
Led to a Decline in Foreign Direct Investments
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Lack of Universal Healthcare Coverage and Skilled
Healthcare Personnel, a Shortage of Medicines in Public
Pharmacies and a High Level of Private Healthcare
Expenditure Leave the Healthcare System of Venezuela
with Shaky Foundations
GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 3
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formE
Country Profile, Venezuela, 2012
Parameter
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Healthcare Market
Economic Environment
Pharmaceutical
Market
Stability
Country Profile
Growth
Sub-parameters
Pharmaceutical Market
Government Initiatives
Medical Device
Market
GDP Growth
Medical Device Market
Growth
Employment
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Hospital Beds to Doctors to Population Environmental Health
Healthcare Infrastructure Government Initiatives Population Ratio Ratio
Overall Public Share Private Share R&D Expenditure
Healthcare Expenditure
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Population Working Age Group Elderly
Demographics
Approval Process Approval Time Government Initiatives
Regulatory Environment
Political Stability Healthcare Initiatives Economic Policy
Political Environment
Access Government Initiatives
Reimbursement
Environment
Strong Moderate Weak
Source: GlobalData
GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 4
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form1 Table of Contents
1 Table of Contents .................................................................................................................................. 5
1.1 List of Tables .................................................................................................................................. 7
1.2 List of Figures ................................................................................................................................. 8
2 Introduction ..........................................................................................................................................10
2.1 Report Guidance............................................................................................................................10
3 Overview of the Pharmaceutical and Medical Devices Market .............................................................11
3.1 Pharmaceutical Market ..................................................................................................................11
3.1.1 Market Overview ...................................................................................................................11
3.1.2 Supply Channels ..................................................................................................................14
3.1.3 Market Segments .................................................................................................................15
3.1.4 Major Disease Areas ............................................................................................................18
3.1.5 Major Players........................................................................................................................19
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3.2 Medical Device Market ..................................................................................................................45
3.2.1 Market Overview ...................................................................................................................45
3.3 Market Drivers and Barriers ...........................................................................................................45
3.3.1 Drivers ..................................................................................................................................45
3.3.2 Barriers .................................................................................................................................46
4 Market Access ......................................................................................................................................48
4.1.1
4.1.2
4.1.3
4.1.4
4.2.1
4.2.2
4.2.3
4.2.4
4.2.5
4.2.6
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4.1 Reimbursement and Payer Landscape ..........................................................................................48
Reimbursement Process ......................................................................................................51
Overview of Insurance Providers ..........................................................................................52
Patient Share in Healthcare Spending ..................................................................................53
Price Trend for Medicines .....................................................................................................54
4.2 Regulatory Landscape ...................................................................................................................55
Overview of Regulatory Agencies .........................................................................................55
Registration Procedure for New Drug ...................................................................................55
Medical Device Approval Process ........................................................................................57
Licensing Process for Pharmaceutical Manufacturing ..........................................................57
Licensing Process for Pharmaceutical Exports and Imports .................................................58
Intellectual Property Rights ...................................................................................................58
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4.2.7 Clinical Trial Regulations ......................................................................................................63
4.2.8 Pharmaceutical Advertising Regulations ..............................................................................65
4.2.9 Pharmacy Regulations .........................................................................................................66
4.2.10 Labeling and Packaging Regulations ...................................................................................67
5 Country Analysis ..................................................................................................................................69
5.1 Political Environment .....................................................................................................................69
5.1.1 Political Structure..................................................................................................................69
5.1.2 Analysis of the Current Political Environment .......................................................................70
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5.1.3 Healthcare Policy Initiatives ..................................................................................................71
5.2 Economic Landscape ....................................................................................................................71
5.3 Economic Indicators ......................................................................................................................73
5.3.1 Gross Domestic Product .......................................................................................................73
5.3.2 Gross National Income .........................................................................................................77
5.3.3 Inflation .................................................................................................................................78
5.3.4 Currency Exchange Rate......................................................................................................82
5.3.5 Foreign Direct Investment.....................................................................................................84
5.3.6 Foreign Exchange Reserves ................................................................................................85
5.3.7 Trade Balance ......................................................................................................................86
5.3.8 Government Structural Balance............................................................................................88
5.3.9 Government Gross Debt .......................................................................................................90
5.3.10 Major Industries ....................................................................................................................92
5.4 Demography ..................................................................................................................................93
5.4.1 Population.............................................................................................................................93
5.4.2 Education and Literacy .......................................................................................................112
5.4.3 Employment........................................................................................................................114
5.4.4 Disease Burden ..................................................................................................................116
5.5 Healthcare Infrastructure .............................................................................................................117
5.5.1 Healthcare Facilities ...........................................................................................................117
GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 5
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form5.5.2 Healthcare Parameters .......................................................................................................123
5.5.3 Environmental Health .........................................................................................................125
5.6 Healthcare Expenditure ...............................................................................................................129
5.6.1 Overview.............................................................................................................................129
5.6.2 Share of Public and Private Sectors ...................................................................................130
5.6.3 Spending in Healthcare R&D ..............................................................................................130
5.7 Trade Associations ......................................................................................................................131
5.7.1 Venezuelan Chamber of Medicine ......................................................................................131
5.7.2 Chamber of Pharmaceutical Industry .................................................................................131
5.7.3 Chamber of Non-prescription Medicines ............................................................................131
5.7.4 Venezuelan Association of Distributors of Medical Equipment, Dental Laboratories and
Allied ...................................................................................................................................131
5.7.5 Venezuelan Chamber of Pharmacy ....................................................................................131
6 Opportunities and Challenges ............................................................................................................132
6.1 Opportunities ...............................................................................................................................132
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6.2 Challenges ...................................................................................................................................133
7 Appendix ............................................................................................................................................135
7.1 Abbreviations ...............................................................................................................................135
7.2 Bibliography .................................................................................................................................138
7.3 -Methodology ...............................................................................................................................146
7.3.1 Coverage ............................................................................................................................146
7.3.2 Secondary Research ..........................................................................................................146
7.3.3
7.3.4
7.3.5
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Forecasting .........................................................................................................................147
Primary Research ...............................................................................................................147
Expert Panel Validation ......................................................................................................147
7.4 Disclaimer ....................................................................................................................................147
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GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 6
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form1.1 List of Tables
Table 1: Pharmaceutical Market ($bn), Venezuela, 2006-2011 ..............................................................12
Table 2: Pharmaceutical Market ($bn), Venezuela, Forecast, 2012-2020 ..............................................13
Table 3: Drugs Going Off-patent, Revenues ($bn), Global, 2011-2015 ..................................................16
Table 4: Major Products, Pfizer, Global, Revenue ($m), 2011 ................................................................20
Table 5: Late-stage Pipeline, Pfizer, 2012 ..............................................................................................20
Table 6: Major Products, GlaxoSmithKline, Global, Revenue ($m), 2011 ..............................................25
Table 7: Late Stage Pipeline, GlaxoSmithKline, 2012 ............................................................................26
Table 8: Major Products, Sanofi, Global, Revenue ($m), 2011 ...............................................................31
Table 9: Late-stage Pipeline, Sanofi, 2012 .............................................................................................32
Table 10: Major Products, Novartis, Global, Revenue ($m), 2011 ............................................................36
Table 11: Planned Filings, Novartis, 2012-2016 .......................................................................................37
Table 12: Major Products, Groupo Farma, 2012.......................................................................................42
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Table 13: Healthcare Spending, Venezuela, Patient's Share (%), 2005-2010 ..........................................53
Table 14: Price Trend for Medicines and Medical Devices (%), Venezuela, 2008-2011...........................54
Table 15: GDP Per Capita ($), Venezuela, 2006-2011 .............................................................................73
Table 16: GDP Per Capita ($), Venezuela, Forecast, 2012-2020 .............................................................74
Table 17: GDP, Venezuela, Annual Growth (%), 2006-2011 ....................................................................75
Table 18: GDP, Venezuela, Annual Growth (%), Forecast, 2012-2020 ....................................................76
Table 19:
Table 20:
Table 21:
Table 22:
Table 23:
Table 24:
Table 25:
Table 26:
Table 27:
Table 28:
Table 29:
Table 30:
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GNI Per Capita ($), Venezuela, 2005-2010 ..............................................................................77
Average Consumer Price Index, Venezuela, 2006-2011 ..........................................................78
Average Consumer Price Index, Venezuela, Forecast, 2012-2020 ..........................................79
Average Consumer Price, Venezuela, Annual Change (%), 2006-2011 ...................................80
Average Consumer Price, Venezuela, Annual Change (%), Forecast, 2012-2020 ...................81
Currency Exchange Rate (VEB/$), Venezuela, 2005-2007 ......................................................82
Currency Exchange Rate (VEF/$), Venezuela, 2008-2011.......................................................83
Foreign Direct Investment ($bn), Venezuela, 2005-2010..........................................................84
Foreign Exchange Reserves ($bn), Venezuela, 2006-2011 .....................................................85
Imports of Goods and Services ($bn), Venezuela, 2006-2011 .................................................86
Exports of Goods and Services ($bn), Venezuela, 2006-2011 .................................................87
General Government Structural Balance ($bn), Venezuela, 2006-2011 ...................................88
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Table 31: General Government Structural Balance ($bn), Venezuela, Forecast, 2012-2020 ...................89
Table 32: Government Gross Debt ($bn), Venezuela, 2006-2011 ............................................................90
Table 33: Government Gross Debt ($bn), Venezuela, Forecast, 2012-2020 ............................................91
Table 34: Major Industries, Venezuela, Gross Domestic Product ($bn), 2011 .........................................92
Table 35: Population (m), Venezuela, 2006-2011.....................................................................................94
Table 36: Population (m), Venezuela, Forecast, 2012-2020 .....................................................................95
Table 37: Urban and Rural Population, Venezuela, Share (%), 2005-2010 ..............................................96
Table 38: Age Groups, Venezuela, Population Distribution (%), 2006-2011 ............................................98
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Table 39: Age Groups, Venezuela, Population Distribution (%), Forecast, 2012-2020.............................99
Table 40: Births (Per 1,000 Population), Venezuela, 2006-2011 ............................................................100
Table 41: Births (Per 1,000 Population), Venezuela, Forecast, 2012-2020 ............................................101
Table 42: Mortality (Per 1,000 Population), Venezuela, 2006-2011........................................................102
Table 43: Mortality (Per 1,000 Population), Venezuela, Forecast, 2012-2020 ........................................103
Table 44: Major Causes of Mortality (Number of Deaths, „000s), Venezuela, 2008 ................................105
Table 45: ChildrenTable 61: Hospital Beds (Per 1,000 Population), Venezuela, 2005-2010 ...............................................123
Table 62: Number of Physicians (Per 10,000 Population), Venezuela, 2005-2010 ................................124
Table 63: Environmental Attributable Deaths (Per 100,000 Population), Venezuela, 2004 ....................125
Table 64: PM10 (micrograms per cubic meter), Venezuela, 2005-2010 .................................................126
Table 65: CO2 Emissions (Million Tons), Venezuela, 2005-2010 ...........................................................128
Table 66: Healthcare Expenditure (% of GDP), Venezuela, 2005-2010 .................................................129
Table 67: Healthcare Expenditure, Venezuela, Public-Private Share (%), 2005-2010 ...........................130
1.2 List of Figures
Figure 1: Pharmaceutical Market ($bn), Venezuela, 2006-2011 ................................................................12
Figure 2: Pharmaceutical Market ($bn), Venezuela, Forecast, 2012-2020 ................................................13
Figure 3: Distribution Channels, Venezuela, 2011 .....................................................................................14
Figure 4: Drivers and Barriers, Healthcare Market, Venezuela, 2011 ......................................................47
Figure 5: History of the Healthcare System, Venezuela, 2011 .................................................................50
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Figure 6: Healthcare Spending, Venezuela, Patient's Share (%), 2005-2010 ..........................................53
Figure 7: Price Trend for Medicines and Medical Devices (%), Venezuela, 2008-2011 .............................54
Figure 8: Registration Procedure for New Drug, Venezuela, 2012 ............................................................56
Figure 9: Patent Approval Process, Venezuela, 2012..............................................................................60
Figure 10: Trademark Approval Process, Venezuela, 2012 .......................................................................62
Figure 11: Clinical Trial Regulation Process, Venezuela, 2012 .................................................................64
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Figure 12: Format of Advertisement, Venezuela, 2012 ..............................................................................66
Figure 13: GDP Per Capita ($), Venezuela, 2006-2011 .............................................................................73
Figure 14: GDP Per Capita ($), Venezuela, Forecast, 2012-2020 .............................................................74
Figure 15: GDP, Venezuela, Annual Growth (%), 2006-2011 ....................................................................75
Figure 16: GDP, Venezuela, Annual Growth (%), Forecast, 2012-2020 ....................................................76
Figure 17: GNI Per Capita ($), Venezuela, 2005-2010 ..............................................................................77
Figure 18: Average Consumer Price Index, Venezuela, 2006-2011 ..........................................................78
Figure 19: Average Consumer Price Index, Venezuela, Forecast, 2012-2020 ..........................................79
Figure 20: Average Consumer Price, Venezuela, Annual Change (%), 2006-2011 ...................................80
Figure 21: Average Consumer Price, Venezuela, Annual Change (%), Forecast, 2012-2020 ...................81
Figure 22: Currency Exchange Rate (VEB/$), Venezuela, 2005-2007 ......................................................82
Figure 23: Currency Exchange Rate (VEF/$), Venezuela, 2008-2011 .......................................................83
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Figure 24: Foreign Direct Investment ($bn), Venezuela, 2005-2010..........................................................84
Figure 25: Foreign Exchange Reserves ($bn), Venezuela, 2006-2011 .....................................................85
Figure 26: Imports of Goods and Services ($bn), Venezuela, 2006-2011 .................................................86
Figure 27: Exports of Goods and Services ($bn), Venezuela, 2006-2011 .................................................87
Figure 28: General Government Structural Balance ($bn), Venezuela, 2006-2011 ...................................88
Figure 29: General Government Structural Balance ($bn), Venezuela, Forecast, 2012-2020 ...................89
Figure 30: Government Gross Debt ($bn), Venezuela, 2006-2011 ............................................................90
Figure 31: Government Gross Debt ($bn), Venezuela, Forecast, 2012-2020 ............................................91
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Figure 32: Major Industries, Venezuela, GDP ($bn), 2011.........................................................................92
Figure 33: Population (m), Venezuela, 2006-2011 .....................................................................................94
Figure 34: Population (m), Venezuela, Forecast, 2012-2020 .....................................................................95
Figure 35: Urban and Rural Population, Venezuela, Share (%), 2005-2010 ..............................................96
Figure 36: Age Groups, Venezuela, Population Distribution (%), 2006-2011.............................................98
Figure 37: Age Groups, Venezuela, Population Distribution (%), Forecast, 2012-2020.............................99
Figure 38: Births (Per 1,000 Population), Venezuela, 2006-2011 ............................................................100
Figure 39: Births (Per 1,000 Population), Venezuela, Forecast, 2012-2020 ............................................101
Figure 40: Mortality (Per 1,000 Population), Venezuela, 2006-2011........................................................102
Figure 41: Mortality (Per 1,000 Population), Venezuela, Forecast, 2012-2020 ........................................103
Figure 42: Major Causes of Mortality (Number of Deaths, „000s), Venezuela, 2008................................104
Figure 43: ChildrenFigure 54: Public Hospitals, Venezuela, 2005-2010 ................................................................................118
Figure 55: Hospitals by Standard of Care, Venezuela, Share (%), 2010 .................................................119
Figure 56: Ambulatory Facilities, Venezuela, Urban and Rural Share (%), 2010 .....................................120
Figure 57: Hospitals by Bed Size, Venezuela, Share (%), 2010 ..............................................................121
Figure 58: Diagnostic Facilities, Venezuela, 2005-2010 ..........................................................................122
Figure 59: Hospital Beds (Per 1,000 Population), Venezuela, 2005-2010 ...............................................123
Figure 60: Number of Physicians (Per 10,000 Population), Venezuela, 2005-2010 ................................124
Figure 61: Environmental Attributable Deaths (Per 100,000 Population), Venezuela, 2004 ....................125
Figure 62: PM10 (Micrograms Per Cubic Meter), Venezuela, 2005-2010 ................................................126
Figure 63: CO2 Emissions (Million Tons), Venezuela, 2005-2010 ...........................................................128
Figure 64: Healthcare Expenditure (% of GDP), Venezuela, 2005-2010 .................................................129
Figure 65: Healthcare Expenditure, Venezuela, Public-Private Share (%), 2005-2010 ...........................130
Figure 66: Opportunities and Challenges, Healthcare Market, Venezuela, 2012 .....................................134
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form2 Introduction
2.1 Report Guidance
The report begins with an executive summary which gives an overview of the healthcare market of
Venezuela and the key factors driving the market there. The executive summary also gives a
snapshot of the demographic, regulatory and reimbursement landscape, as well as the healthcare
infrastructure of Venezuela.
Chapter three provides an overview of the pharmaceutical and medical device market of Venezuela,
including the market size, market segmentation by generics, Over-the-Counter (OTC) and
biologics/biosimilar products, and the key drivers and barriers for the market. The section also
includes profiles of the major players, with a SWOT assessment.
Chapter four covers the reimbursement and payer landscape as well as the regulatory landscape of
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Venezuela. The reimbursement and payer landscape elaborates on the features of the healthcare
reimbursement process for Venezuela. It includes details of the reimbursement process, the
insurance providers, pricing policies and drug price trends in the country. The regulatory landscape
section provides an overview of the regulatory agencies and approval processes for new drugs and
medical devices. The licensing process for the manufacturing and export/import of pharmaceuticals,
the regulations for pharmaceutical advertising, labeling and packaging and clinical trials and an
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overview of the landscape for intellectual property rights are also covered in this chapter.
Chapter five provides a detailed analysis of the political and economic environment of Venezuela. It
analyses the economic indicators, demographics, healthcare infrastructure and healthcare
expenditure of Venezuela.
Chapter six provides an overview of the opportunities and challenges for growth that exist in the
healthcare market of Venezuela.
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GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 10
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form3 Overview of the Pharmaceutical and Medical Devices Market
3.1 Pharmaceutical Market
3.1.1 Market Overview
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GDHC0021CHR / Published DEC 2012
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formFigure 1: Pharmaceutical Market ($bn), Venezuela, 2006-2011
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Source: GlobalData; CIFAR, 2007; RNV, 2012
Table 1: Pharmaceutical Market ($bn), Venezuela, 2006-2011
Year 2006 2007 2008 2009 2010 2011
Revenue
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Source: GlobalData; CIFAR, 2007; RNV, 2012
GDHC0021CHR / Published DEC 2012
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formFigure 2: Pharmaceutical Market ($bn), Venezuela, Forecast, 2012-2020
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Table 2:
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Source: GlobalData; CIFAR, 2007; RNV, 2012
Pharmaceutical Market ($bn), Venezuela, Forecast, 2012-2020
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Year 2012 2013 2014 2015 2016 2017 2018 2019 2020
Revenue
Source: GlobalData; CIFAR, 2007; RNV, 2012
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GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 13
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form3.1.2 Supply Channels
Figure 3: Distribution Channels, Venezuela, 2011
Public Manufacturer /
Private Manufacturer
SEFAR
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Public Hospitals / Farmapatria / National
Wholesaler / Distributor
Clinics Pharmacy Network
Public Hospitals /
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Retail Pharmacy
Private Hospitals /
Clinics
Public Hospitals /
Clinics
Retail Pharmacy
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Consumer / Patient
Source: GlobalData; CIFAR, 2012a
GDHC0021CHR / Published DEC 2012
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form3.1.3 Market Segments
3.1.3.1 Generic Drugs
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GDHC0021CHR / Published DEC 2012
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formTable 3 shows the drugs going off patent globally, which will be an opportunity for Venezuelan
pharmaceutical manufacturers to export generic drugs into the global market.
Table 3: Drugs Going Off-patent, Revenues ($bn), Global, 2011-2015
Company Drug Indication Patent Expiration 2010 Sales ($m)
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Source: GlobalData, Pharma eTrack [Accessed September 21, 2012]
GDHC0021CHR / Published DEC 2012
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any form7 Appendix
7.1 Abbreviations
AD : Accion Democratica (Democratic Action)
AIDS : Acquired Immunity Deficiency Syndrome
AML : Acute Myeloid Leukemia
ANC : Asamblea Nacional Constituyente (National Constituent Assembly)
ASM : Aggressive Systemic Mastocytosis
AVEDEM: Asociación Venezolana de Distribuidores de Equipos Médicos, Odontológicos, de
Laboratorios y Afines (Venezuelan Association of Distributors of Medical Equipment,
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Dental Laboratories and Allied)
BMS : Bristol-Myers Squibb
CAGR : Compound Annual Growth Rate
CAMESIP: Cámara de Medicamentos Sin Prescripción (Chamber of Non-prescription Medicines)
CAREM :
CAT
CAV
CAVEFAR:
CAVEME:
CDI
:
:
:
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Integración de las Áreas Cardiovascular, Renal y Endocrino-Metabólica (Integration of
the Areas Cardiovascular, Renal and Endocrine-Metabolic)
Centros de Alta Tecnología (High Technology Centers)
Cámara de Aseguradores de Venezuela (Venezuelan Insurance Chamber)
Camara Venezolana de Farmacia (Venezuelan Chamber of Pharmacy)
Camara Venezolana del Medicamento (Venezuelan Chamber of Medicine)
Centros de Diagnóstico Integral (Integral Diagnostic Centers)
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CDM : Clean Development Mechanism
CDs : Compact Discs
CEDIMED: Centro de Información de Medicamentos (Drug Information Center)
CIDP : Chronic Inflammatory Demyelinating Polyneuropathy
CIFAR : Camara de la Industria Farmacéutica (Chamber of Pharmaceutical Industry)
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CIU : Chronic Idiopathic Urticaria
CNE : Consejo Nacional Electoral (National Electoral Council)
CNS : Central Nervous System
CNV : Choroidal Neovascularization
CONMED: Consejo nacional del Medicamento (National Drug Council)
COPD : Chronic Obstructive Pulmonary Disease
COPEI : Comite Organizador Politico por Elecciones Independientes (Christian Democrats)
CPI : Consumer Price Index
CR : La Causa Radical (Radical Cause)
CRS : Congressional Research Service
CT : Computed Tomography Scanner
CTN : Comité Terapéutico Nacional (National Drug Committee)
DALY : Disability Adjusted Life Years
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formDEA : Drug Enforcement Administration
DHHS : Department of Health and Human Services
EU : European Union
FDI : Foreign Direct Investments
FTA : Free Trade Agreement
GCI : Global Competitiveness Index
GDP : Gross Domestic Product
GNI : Gross National Income
GSK : GlaxoSmithKline
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HCC : Hepatocellular Carcinoma
IMF : International Monitory Fund
Inass : Nacional de Servicios Sociales (National Institute of Social Services)
INE : Instituto Nacional de Estadistica (Department of Statistics)
INH
INHRR :
IPASME :
IPSFA
:
:
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Instituto Nacional de Higiene (National Institute of Hygiene)
Instituto Nacional de Higiene Rafael Rangel (National Institute of Hygiene Rafael
Rangel)
Instituto de Previsión y Asistencia Social del Ministerio de Educación, Cultura y
Deportes (Institute of Welfare and Social Assistance, Ministry of Education, Culture and
Sports)
Instituto de Previsión Social de las Fuerzas Armadas (Social Welfare Institute of the
Armed Forces)
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IVSS : Instituto Venezolano de los Seguros Sociales (State Health Directorates and Social
Development, the Venezuelan Institute of Social Security)
JRPF : Junta Revisora de Productos Farmacéuticos (Pharmaceutical Review Board)
JV : Joint Venture
LME : Lista de Medicamentos Esenciales (List of Essential Drugs)
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LOS : Ley Orgánica de Salud (Organic Health Law)
LOSSS : Ley Orgánica del Sistema de Seguridad Social (Law for Social Security System)
MAS : Movimiento al Socialismo (Movement to Socialism)
MCIT : Ministerio de Comercio, Industria y Turismo (Ministry of Commerce, Industry and
Tourism)
ME : Macular Edema
MNCs : Multinational Companies
MPPS : Ministerio del Poder Popular para la Salud (Ministry for People's Power for Health)
MRI : Magnetic Resonance Imaging Machine
MUD : Mesa de Unidad Democrática (Democratic Unity Table)
N/A : Not Applicable
NIBR : Novartis Institutes for Biomedical Research
NIDWMR: Novartis Institute for Medical Research in the Developing World
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Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formNMEs : New Molecular Entities
NRC : National Research Council
NTDs : Neglected Tropical Diseases
NVGH : Novartis Vaccine Institute for Global Health
OHH : Obese Hypogonadotropic Hypogonadism
OICEMP : Oficina de Inscripcion Control de Equipos Medicos y Para Medicos (Office of
Registration and Control for Medical and Paramedical Equipment and Supplies)
OPEC : Organization of the Petroleum Exporting Countries
OTC : Over-the-Counter
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PAHO/WHO: Pan-American Health Organization
PCV : Partido Comunista de Venezuela (Communist Party of Venezuela)
PD-LID : Parkinson‟s Disease L-dopa Induced Dyskinesia
PDVSA : Petróleos de Venezuela
PJ
PNANNA:
PPT
PSUV
R&D
SAPI
:
:
:
:
:
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Primero Justicia (First Justice)
Programa Nacional de Atención Integral del Niño, Niña y Adolescente (Health Program
of Children and Adolescents)
Patria Para Todos (Fatherland for All)
Partido Socialista Unido de Venezuela (United Socialist Party of Venezuela)
Research and Development
Servicio Autónomo de la Propiedad Intelectual (Autonomous Service of Intellectual
Property)
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SEFAR : Servicio Autónomo de Elaboraciones Farmacéuticas (Autonomous Service of
Pharmaceutical Elaborations)
SITME : Sistema de Transacciones con Títulos en Moneda Extranjera (Transaction System for
Foreign Currency Denominated Securities)
SJIA : Systemic-onset Juvenile Idiopathic Arthritis
SA
SPNS : Sistema Público Nacional de Salud (National Public Health System)
SRI : Salas de Rehabilitación Integral (Integral Rehabilitation Facilities)
TRIPS : Trade Related Aspects of Intellectual Property Rights
TSU : Therapeutic Strategic Units
UNESCO: United Nations Educational, Scientific and Cultural Organization
UNFCCC: United Nations Framework Convention on Climate Change
UNT : Un Nuevo Tiempo (A New Time)
URMM : Unidad de Recepción de Muestras de Medicamentos (Reception of Unit Drug Samples)
USAID : US Agency for International Development
VAT : Value Added Tax
VEF : Venezuelan Bolivar Furete (Strong Bolivar)
VP : Voluntad Popular (Popular Will)
WHO : World Health Organization
GDHC0021CHR / Published DEC 2012
Healthcare, Regulatory and Reimbursement Landscape Page 137
Venezuela © GlobalData. This report is a licensed product and is not to be copied,
reproduced, shared or resold in any formWIPO : World Intellectual Property Organization
WTO : World Trade Organization
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