Pharmaceutical companies need to apply location intelligence techniques and foot traffic analytics to identify consumer mobility patterns, in order to maximize sales and generate more efficient expansion models.
The correlation between foot traffic, sales, and the success of pharmacy franchises have been studied and proven, so the development of this type of analysis has become a priority in the site selection process and expansion modeling.
For the second quarter of 2021, the purchase of pharmaceutical products in the region was dominated by Costa Rica with $428 million, the largest supplier to the region was Germany with $167 million.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
Mobility analytics and location intelligence play an important role in business by helping to understand the behavioral patterns of consumers in any given zone of interest or point of sale.
Pedestrian flow analysis, location intelligence and point-of-interest categorization have revolutionized the way retail and wholesale industries implement expansion, commercial and operational strategies in the pharmaceutical sector.
Between the first three months of 2020 and 2021, the imported value of pharmaceutical products in Central America registered a positive variation, going from $825 million to $866 million.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"].
BID Invest granted Calox de Costa Rica S.A. a loan that will help the company invest in substantial improvements in its production capacity and seek international certifications to validate the quality of its products.
The project has two main objectives. The first is to acquire the existing plant to make improvements in infrastructure and energy efficiency in order to become certified and expand its production capacity in the medium term. The second objective is to provide medium-term financing for working capital, reported IDB Invest, a member of the BID Group.
During 2020, Central America's imports of pharmaceutical products containing insulin totaled $35 million, and purchases from Danish companies increased 11% over what was reported in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
During 2020, companies in the region allocated $134 million for the import of vaccines for human use, and purchases from Russian companies increased 54% over what was reported in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
During 2020, Central American imports of pharmaceutical products totaled $3.502 billion, and purchases from Mexican companies increased by 2% over the amount reported in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
The Ministry of Public Finances published the bases for four public tenders, through which the supply of pharmaceutical products to be used by the Ministry of Public Health will be contracted.
The four tenders are in the Open Contract Purchase modality for the supply and acquisition by the State of Medicinal and Pharmaceutical Products.
From January to September 2020, companies in the region invested $101 million for the purchase abroad of vaccines for human use, and purchases from Russian companies increased 34% compared to the same period in 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
The Ministry of Health tenders the supply of medicines used for peritoneal dialysis and hemodialysis, procedures that will be performed in the hospital network of the institution.
Purchase of the Government of El Salvador DR-CAFTA LA-ADA-UE-CA 02/2021 GRAL-MINSA:
From January to September 2020, Central American imports of pharmaceutical products totaled $2.625 billion, an amount that exceeds by just 0.4% what was reported in the same period of 2019.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graph"]
Agencia Farmaceutica S.A., Corporacion Impa Doel S.A., Hispomedica SRL and Cefa Central Farmaceutica are among the companies that won contracts last year to supply medicines and pharmaceutical products to public health institutions in the region.
An analysis by CentralAmericaData's Business Intelligence department provides interesting data on the companies that in 2020 were awarded contracts to supply pharmaceutical products and medical supplies to the different Ministries of Health and Social Security entities in Central American countries and the Dominican Republic.
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