About the Market
Biologic-baseddrugs are an increasingly important part of product growth strategies for pharmaceutical and biopharmaceutical companies. Biopharmaceutical products have rapidly taken over pharmaceutical company revenues, with sales of the top six antibody products viz., Humira, Remicade, Enbrel, Rituxan, Avastin, Herceptin, at just over USD 51 billion in 2015. 77% of over 900 biopharmaceutical products are produced in mammalian cell culture systems in the United States and Europe. In terms of production capacity, North America holds the greatest at 52%, followed by Europe and Asia. Due to government incentives in tax reforms, favorable locations with mature pipelines, and the ability to manage complex global supply chains, Asia has significant growth capacity. Samsung, Bristol-Myers Squibb, and Novartis are some of the key players in the market.
About the Geography
Chile is recognized as one of the most stable, open and competitive economies in Latin America. With a presidential republic at its helm, the recent success of the Chilean economy is based on the export of copper.
With the continued drop in copper prices since 2014, Chile has experienced its second consecutive year of slow growth, elevated inflation and a depreciating currency. To counter this sluggish growth, Chile’s policymakers have been actively seeking foreign investment that shall provide the needed capital and technology for economic development. Chile withdrew from the ANCOM (Andean Common Market) in order to be free from restrictions on foreign investment. Regional incentives are available granting certain benefits, to promote investment in these areas and an all-round development of the country.
Negotiations made mostly in Spanish and weak IPR enforcement are challenges of conducting business in Chile. However, the strengths of the market, which include an open economy, commitment to free trade, a well-developed financial market and economic structure, seem to stand tall among these challenges.
Component Name | Unit | From Site |
GDP | USD billion | 240 |
GDP Annual Growth Rate | % | 1.5 |
GDP Per Capita | USD | 14626 |
Employment Rate | % | 55.26 |
Wages | USD/Month | 374.858 |
Inflation Rate | % | 3.1 |
Consumer Price Index (CPI) | Index Points | 114 |
Interest Rate | % | 3.5 |
Loans to Private Sector | USD million/billion | 131.831 million |
Balance of Trade | USD million/billion | 146 USD million |
Business Confidence | (No Units) | 43.63 |
Manufacturing Production | % | 2.4 |
Ease of Doing Business | (No Units) | 48 |
Competitiveness Rank | (No Units) | 33 |
Corruption Rank | (No Units) | 23 |
Consumer Confidence | (No Units) | 31.5 |
Consumer Spending | USD million/billion | 29,630.824 million |
Bank Lending Rate (Consumers) | % | 6.88 |
Corporate Tax Rate | % | 22.5 |
Sales Tax Rate | % | 19 |
The Market Entry Series
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