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Key regions: United States, China, Germany, Japan, Europe
The Pharmaceuticals market in Chile has been developing at a steady pace over the years. Chile is one of the largest pharmaceutical markets in Latin America, and the growth of the industry is driven by several factors.
Customer preferences: Chilean consumers have shown a growing preference for generic drugs over branded drugs. This is due to the lower cost of generic drugs, which are often more affordable than their branded counterparts. Additionally, consumers are becoming more health-conscious and are seeking out drugs that are more effective in treating their health conditions.
Trends in the market: The pharmaceutical industry in Chile is expected to continue to grow over the next few years. The government has implemented policies that promote the use of generic drugs, which has led to increased competition among pharmaceutical companies. Additionally, the aging population in Chile has created a growing demand for drugs that treat chronic diseases such as diabetes and hypertension.
Local special circumstances: One of the unique aspects of the pharmaceutical industry in Chile is the role of the government in regulating drug prices. The government has implemented a system of price controls to ensure that drugs are affordable for all Chilean citizens. This has led to lower profit margins for pharmaceutical companies, but it has also made drugs more accessible to the general public.
Underlying macroeconomic factors: The Chilean economy has been stable over the past few years, which has contributed to the growth of the pharmaceutical industry. Additionally, the government has implemented policies that promote investment in the healthcare sector, which has led to increased investment in the pharmaceutical industry. Finally, the growing aging population in Chile has created a growing demand for drugs that treat chronic diseases, which has contributed to the growth of the industry.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)