The pharmaceutical industry in Colombia has great potential, due to the sustained market growth. From 2013 to 2016 the sales in Colombia presented an annual average growth rate (CAGR) of 5,64% in local currency (COP).
All the categories of this market present dynamic growth, reporting an average annual growth rate (CAGR) between 2013 and 2016 of 5,55% for generic drugs, 5,97% for patented medicines and 5,14% for OTC products.
This market concentrates in Bogotá, where 82% of the commercial operations of the sector take place. In addition, 67% of the pharmaceutical manufacturing companies locate in the city, as well as over 50% of the medicines wholesalers. Additionally, Bogotá has a smart specialization strategy that brings into focus the productive approach of the city towards advanced health services and pharmaceuticals.
Colombia is a global pioneer in regulation of pharmaceutical products, leading several processes replicated in many countries. In addition, the National Institute of Surveillance of Medicines and Drugs (INVIMA), is an international reference entity, qualified with the maximum level by the Panamerican Health Organization.
Bogota has potential to be the hub of development of chemical synthesis medicines, based on the biodiversity of the country.
Pharmaceutical Market - Colombia
- Substitution of imported chemical products and excipients, with potential for local production.
- Development, production and distribution of biological, biosimilar and chemical synthesis medicines.
- R&D of molecules and ingredients, making the most of the Colombian biodiversity.
- Nutraceutical products: development and identification of materials for their production.
If you need more detailed information, find in the lower part the information of our investment officers in charge of this sector.
Updated (mm/dd/yyyy): 02/22/2018