Colombia

The OTC and pharma market in Colombia 

Cur­rently worth US $4.2 billion, the Colom­bian Health­care mar­ket may seem small in com­par­i­son to its neigh­bours, but the mar­ket is set to expand at a one-digit CAGR between 2013 and 2016.

The eco­nomic and polit­i­cal envi­ron­ment is sta­ble, so the out­look is pos­i­tive for phar­ma­ceu­ti­cal mar­ket growth. Colom­bia is look­ing for­ward to increasing drug access for the whole pop­u­la­tion under a uni­ver­sal insur­ance pro­gram, which will imme­di­ately expand the mar­ket. Imports, exports and the num­ber of Pharma com­pa­nies oper­at­ing in the mar­ket are also ris­ing. The cur­rent lead­ing phar­ma­ceu­ti­cal com­pany in Colom­bia is Tec­no­quim­i­cas, fol­lowed by Bax­ter and Roche; its largest domes­tic man­u­fac­tur­ers are Bussie, Gen­far and Lafran­col (who pro­duce generic copy­cats).