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Greece Pharmaceuticals and Healthcare Report Q1 2014

Greece healthcare market affected by further funding cuts in 2013 as millions unable to afford insurance contributions

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2014-03-17 05:45:03 - Greece Pharmaceuticals and Healthcare Report Q1 2014 - a new market research report on

We have further downgraded our outlook on Greece´s healthcare market this quarter. Further cuts to spending have led to a worsening of the healthcare crisis, with millions of people unable to afford insurance contributions. Meanwhile, there is no relief on the horizon for the pharmaceutical sector: another round of generic drug price cuts and the absence of patented drugs on the positive drug reimbursement list will be hugely detrimental for both domestic and multinational drugmakers. Without an increase in funding (extremely unlikely given its continuing macroeconomic woes), the country´s ability to resolve these systemic issues is extremely limited.

Pharmaceuticals: EUR5.99bn (US$7.61bn) in 2012 to EUR5.64bn (US$7.51bn) in 2013; -5.8% in local currency terms and -1.4% in US dollar terms. Forecast broadly



unchanged from previous quarter.

Healthcare: EUR16.47bn (US$20.92bn) in 2012 to EUR13.92bn (US$18.51bn) in 2013; -15.5% in local currency terms and -11.5% in US dollar terms. Forecast downgraded from previous quarter as a result of further cost-containment measures.

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Mike King
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