Guyana Pharmaceutical Market

?Guyana Pharmaceutical Market

Guyana is one of South America's smallest nations. It is 3rd smallest country by area in mainland South America after Uruguay and Suriname.

Guyana’s pharmaceutical industry usually unnoticed by most of the pharma companies but it plays an important role for neighboring Caribbean countries, small islands.

As a result, there are gaps with regards to product availability and Guyana very well takes this as opportunity to fill the gap by exporting product to the distributors and pharmacies in these small islands.

Few large players exist in the provision of drugs to both public and private sector.

Population

?Approx 0.8 Mn

90% of Guyana’s population lives in coastal areas

and 10% of the population lives in the rural hinterlands.

Mostly descendant are from Africa and India

Capital City

? Georgetown

?Language

The only English-speaking country in South America

Currency

The Guyanese dollar

1000 Guyanese dollars = 4.75 US Dollars

Gross Domestic Product Per Capita

USD 11040.71

International Borders

Guyana Share border with three countries: Suriname, Venezuela, and Brazil.

Brazil to the south and southwest, Venezuela to the west, and Suriname to the east,

Atlantic Ocean to the north.

?Largest Port

?Port Georgetown?is the main port of Guyana, the capital city and a centre of manufacturing, commerce and finance.

?Healthcare Budget 2022

USD 350 Mn which is around 13-15% of total budget of Guyana. Guyana’s health care sector remains an area of high expenditure by the government.?

Private expenditure 37% whereas public expenditure 63%

?Many patients visit United States, Canada, Trinidad and Tobago and Cuba for their medical conditions.

?Around 30 hospitals in the country

?Total Market Size

Guyanese pharma industry is not a big one with regards to manufacturing and exports, but this country is an important market in the region.

Market Value is around USD 35Mn

Most of the generic pharmaceutical products either from India or from Pakistan.

Branded drugs are from Turkey, EU and US

Main Pharma Export Markets of Guyana

The main destination of pharmaceuticals exports from Guyana are:

Trinidad and Tobago, Saint Lucia, Canada, & United States,

FDA Name

Government Analyst Food and Drug Department GA-FDD

Responsible for inspecting, licensing manufacturers, importers, registering pharmaceutical products and investigating consumer complaints.?

Food, drugs, cosmetics or medical devices can only be imported / exported if the necessary inspection, sampling, analysis and the issuance of results from analysis, health / free sale certificate, examination, a Licence to Manufacture or a Permit to Import is approved or issued by the Department.

Pharmaceutical Product Registration

Product registration would be easier when products are either pre-qualified by the WHO or they have been registered by other stringent regulatory authorities. If the Drug approved for use in Canada, USA, UK or Australia as certified by the respective Regulatory Authorities then its less time-consuming process. ?

Pharmaceutical Product Registration Fee

USD 94.15 per product

Pharmaceutical Product Registration Time

?????????One to Six months

Plant Audit

?????????No

Selling Price of Few Products

Cough Syrup 100ml – USD 2.42

Multivitamin Syrup – USD 5.0

Paracetamol Syrup 150ml – USD 3.16

Diclofenac Gel – USD 1.71

Indian Exporter and their Importers in Guayama?

·??????Cipla – NEW GPC

·??????Intas ?- MIKE S PHARMACY

·??????Ipca Laboratories Limited - Ansa Mcal Trading Limited & BPI

·??????VHB Medisciences Ltd - United Pharma Care Caribbean

·??????Health Biotech Ltd - Chirosyn Discovery Technologie

·??????Cadila Pharmaceuticals Ltd - Global Health Care Supplies

·??????Sun Pharma

·??????Dr Sabharwal

·??????SAKAR HEALTH LTD

·??????Morphen

·??????Alkem

·??????Mankind

Pharma Importers and Distributors:

ANSA McAL Trading Limited?- largest distribution companies in Guyana

New GPC - Reputed Pharma company, Caribbean’s oldest and largest pharmaceutical manufacturer of generic pharmaceuticals

PQS Distribution Inc.

I.P.A Health Care

Health International Inc

Health Care Imports

Mike's Pharma - Big Name and have it's Manufacturing unit.

Pharmax Distributor

Strengths

·??????Focus of Healthcare Sector, especially in Hospital development

·??????High percentage of budget allocated to this segment.

Opportunity

§?Telemedicine is suitable for Guyana, because it addresses the need to treat remote areas

§?Unrealized potential for the development of drugs.

§?Most of the pharmaceuticals imported are generic drugs.

Weakness

§?Country’s vast terrain - remote areas

§?Lack of infrastructure makes access to medical resources difficult.??

§?High transportation costs

Threat

§?Shortages of medical professionals

§?Shortages and Mismanagement of essential drugs

§?Only few selected companies able to procure drugs and pharmaceutical supplies for the nation

Dr. Palak Gupta

[email protected]

+91 9971140354