This TforG Healthcare Overview for Argentina includes numerical and written analysis on the socioeconomic and macroeconomic context and outlook, the healthcare system, and the latest healthcare reforms. Moreover, an extensive chapter is dedicated to the markets for capital equipment, medical devices, disposables and pharmaceuticals.
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- In 2015 the GDP growth rate was 1.2%. Looking at the GDP rate since 2011, it has been a turbulent up and down, coming from as high as 8.4% in 2011 to a forecasted -1% in 2016.
- Currency devaluation and high public debt have created some uncertainty in terms of economic sustainability.
- The new president is expected to shake up economic policies and strengthen Argentina’s international trade, attract foreign investment, and improve the nation’s outlook.
- Forecasts expect performance to weaken, before starting a slow yet steadier recovery come 2017 and 2018.
The Healthcare System:
- Argentina provides universal medical coverage through a tax-funded public insurance program. The healthcare system in Argentina can be broken down into 3 main sectors, each with their own network and funding mechanisms; public, private and union-run.
- In terms of their healthcare record, Argentina has a fair amount of high quality, modern hospitals and many highly skilled specialists that have studied abroad and have excellent reputations. These are mostly confined to the private sector. Medical tourism and plastic surgery are profitable specialisms.
- Healthcare expenditures in Argentina were around €20 bn in 2015, around 4.6% of the GDP. The healthcare expenditure has been decreasing steadily since 2011; a 40% decrease in total over the last 5 years. Per capita expenditure currently is around €460.
- 38% of total healthcare expenditure is spent on medtech, medication and medical supplies.
- The main challenges for Argentina’s healthcare system in the coming years are:
Changing demographics and increased incidence of chronic diseases
Lack of integration: outdated protocols and long waiting lists
Inequalities in accessibility and quality of care
Deterioration of public structures and outdated technologies and treatments
- Recent reforms include:
Traceability of medical devices (2014)
Medical Device Law Modifications (2013)
- Imports account for about 75% of the market. 25% of these imports are US importers. 25% of the healthcare market supplies are provided by domestic firms, which typically provide low to mid-range equipment and devices.
- Medical tourism generated 167 m in 2015. 67% of this income was for medical procedures and 33% for cosmetic ones.
- The medical device market is estimated around €810 m in 2015, with a forecasted growth rate over the next 4 years of 30%, reaching €1.05 bn in 2020.
- Telemedicine is growing more popular and has been introduced on a nation-wide level, which will drive the use of hospital networks and care-provider connectivity, as well as remote care devices.
Includes tables centralizing all relevant data on socio-demographics, macroeconomics and national Healthcare.
National Care Provision data:
Provides an overview of the Healthcare demographics: Nation Care provision data, Intensive Care units, Operating rooms, Emergency Rooms, Hospital services, Healthcare professionals.
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