The recovery of the Venezuelan pharmaceutical market continued between January and November 2024, driven mainly by the 54.02% growth of the generic medicines segment, which represents 45.14% of the total market, with more than 133.5 million units. distributed to patients
The Venezuelan pharmaceutical sector continues its positive trend, showing an increase of 40.72% in the distribution of medicines during the 11 months of 2024, compared to the same period of the previous year. This growth is evident in the marketing of more than 295.88 million units in pharmacies throughout the country.
The latest Faro Pharmaceutical bulletin No. 9 of Year 2 of the Business Intelligence Unit of LETI Grouphighlights that in the accumulated period from January to November the market registered 10,627 active presentations, which represents 1% more than in 2023.
«National production laboratories maintain their increase in their contribution to the Venezuelan pharmaceutical industry. In the accumulated January to November, it contributes 73.53% to market growth. The rest of the bidders represent 26.47%. In the month of November the distribution is 79.63% for national producers vs 20.37% for the rest of the suppliers,” the report indicated.
During the accumulated period from January to November 2024, greater availability of therapies to treat prevalent pathologies in the country, addressing the needs of patients. Availability by specialty increased significantly with the following detail: Locomotor System 69.94%; Cardiovascular System 51.18%; Diabetes and Digestive System 38,42; Nervous System 38.20%; Antiparasitics 77.68%; Hormones 33.27% and Genito-Urinary System 32.34%
«The recovery of the Venezuelan pharmaceutical market continues during the period from January to November, driven mainly by the 54.02% growth of the generic medicines segment, which represents 45.14% of the total market, with more than 133.5 million units distributed to Venezuelan patients,” the bulletin noted.
The national generic production laboratories increase the gap with the rest of the suppliers to have a proportion of 69.26% versus 30.74%, in the accumulated period from January to November. In November the ratio between the national laboratories and the other corporations was 75.45% versus 24.55%.
On the other hand, during the months of January to November, the presentations of Generic medicines with reduced content showed a notable growth of 73.39% compared to the previous year. These presentations placed more than 53.3 million units and represented 40% of the total generic market.
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*Journalism in Venezuela is carried out in a hostile environment for the press with dozens of legal instruments in place to punish the word, especially the laws “against hate”, “against fascism” and “against the blockade.” This content was written taking into consideration the threats and limits that, consequently, have been imposed on the dissemination of information from within the country.
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