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SOURCE Decision Resources Group
Given the Size and Growth of Colombia's Generic Sector There is Potential for Both Domestic and International Companies, According to Findings from Decision Resources Group
BURLINGTON, Mass., June 17, 2014 /PRNewswire/ -- Decision Resources Group finds that Colombia has an attractive pharmaceutical market that should appeal to multinational companies looking for emerging growth opportunities. Colombia is experiencing increasing demand for pharmaceutical products as a result of the country's positive economic landscape, booming population and government policies to broaden access to medicines through the expansion in health insurance and affordable drug coverage. Colombia also has a thriving generic sector, as a result of government cost-containment efforts that offers growth potential for both domestic and multinational pharmaceutical companies. The Colombian pharmaceutical market was worth COP (Colombian peso) 8.126 trillion (U.S. $4.35 billion) in 2013 and is expected to grow at a Grow at a Compound Annual Rate (CAGR) of 7.3 percent to reach COP 10.032 trillion (U.S. $5.37 billion) by 2016.
Other key findings from the Market Access Tracker report entitled Colombia Market Access Tracker:
Comments from Decision Resources Group Analyst Chiara Stella Cochetti, MS.C.:
About Decision Resources Group
Decision Resources Group offers best-in-class, high-value information and insights on critical issues within the healthcare industry. Clients rely on this analysis and data to make informed decisions. Find out more at www.DecisionResourcesGroup.com.
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