£810 / $1295 / €985
Cuban health expenditure is the lowest in the Americas region. Nearly all health expenditure will be accountable to the public sector in the 2011-2016 period. Due to fluctuating GDP rates, expenditure as a percentage of GDP is expected to oscillate between 11.6% and 12.9% in the forecast period. Given that all medical care is officially free, private expenditure is limited to unofficial payments to officials and healthcare professionals, and health tourism.
Locally-produced drugs do not operate in a market as such, and therefore it is difficult to place a value on them. The economy is expected to do well in the 2011-2016 period, and the Economist Intelligence Unit (EIU) believes that mid-term economic policy is expected to be focused on making the economic system more flexible and promoting more private initiatives. The Cuban pharmaceutical market is the smallest in the Americas region. Espicom projects a moderate CAGR in dollar terms between 2011 and 2016. The Cuban pharmaceutical market increased in value by five times in the 1995-2010 period.
Cuba has developed a well-established pharmaceutical industry based on the formulation or manufacturing of generic medicines. An important Cuban biotechnology industry has also been developed. The government is responsible for domestic production, which represents between 80% and 90% of the market. In order to strengthen domestic pharmaceutical production, the Ministry of Basic Industry (MINBAS) formed the Chemical Pharmaceutical Business Group (QUIMEFA) in 2001. There were 28 pharmaceutical producers registered in 2010. Production increased by four times between 1997 and 2008.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.