COLOMBIA, CHILE AND PERU WILSON’S DISEASE TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

Colombia, Chile and Peru Wilson’s Disease Treatment Market – Restraints

The high price of drugs (including branded and generic) for the treatment of Wilson’s disease and low affordability among patients for such drugs in Colombia, Chile, and Peru is a major hurdle for the market growth. For instance, in 2018, Teva Pharmaceutical Industries Ltd., a pharmaceutical company, launched the generic version of Syprine (branded drug for Wilson disease) in the U.S., which costs US$ 18,275 for 100 pills, a cheaper alternative to treat Wilson’s disease by less than US$ 3,000. However, this price is too high for patients in countries such as Chile, Colombia, and Peru. Thus, the launch of low price generics can increase the affordability for treatment among the population in these countries.

The lack of proper regulatory policies is also one of the major restraining factors for the market growth in Colombia, Chile, and Peru. For instance, in 2016, Latin American countries collaborated with the Pan American Health Organization (PAHO), which recognized Colombia to have national regulatory agencies that are competent and performant. However, despite this recognition of progress, the duration required to obtain product approval is relatively slow in the country. Therefore, no approvals of drugs from regulatory bodies abstain patients from treatments of rare diseases such as Wilson’s disease.