Drug Spending To Reach US$1.92bn by 2019

In 2009, pharmaceutical spending in Ecuador reached US$0.966bn and BMI calculates that it will increase further, by 8.80%, to a value of US$1.05bn in 2010. Despite a compound annual growth rate (CAGR) of 13.29% from 2004-2009, BMI's outlook for Ecuador's drug market is less optimistic over the next five years. From 2009-2014, a CAGR of 8.85% is projected, which we believe will be the result of a slowdown in spending due to the effects of the country's large trade deficit - the Ecuadorian economy is heavily dependent on the performance of the oil sector which has suffered in light

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