The average price of medications in Venezuela remains the lowest in LATAM, with an estimated cost of US$4.11 per unit.

On Monday, the Venezuelan Chamber of the Pharmaceutical Industry (CIFAR) published a report showing that the country’s pharmaceutical market grew by 23.4% year over year in the first half of 2025.

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Between January and June, 190.22 million medications were distributed through pharmacies nationwide, compared with 154.12 million units during the same period last year. In June alone, the year-over-year increase was 39%, with the number of medicines rising from 28.58 million to 39.74 million units.

As production continues to expand, the average price of medications in Venezuela remains the lowest in Latin America, with an estimated cost of US$4.11 per unit.

That figure contrasts with neighboring markets such as Colombia (US$4.70) and Ecuador (US$7.60), helping to maintain relative levels of access to medication for the population amid the U.S. blockade against the Bolivarian nation.

In Venezuela, the pharmaceutical sector — which currently includes 11 laboratories and seven representative offices — recorded annual growth of 35.3% in 2024 and 28.7% in the first quarter of 2025, according to the Venezuelan Confederation of Industries (COINDUSTRIA).

Despite this progress, the sector faces financing constraints that could be eased through the reactivation of tax credits, said CIFAR President Tito Lopez.

Analysts project that the pharmaceutical market will close out 2025 with 17.7% growth compared to 2024, reaching a distribution of 380 million medications.

teleSUR/ JF

Source: Venezuela News – teleSUR

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