2014-02-07 22:55:01 - Ireland Pharmaceuticals and Healthcare Report Q1 2014 - a new market research report on companiesandmarkets.com
Further negative developments have hit Ireland´s pharmaceutical industry hard in recent months, with exports of organic chemicals falling significantly in the wake of patent expirations. However, we believe that the worst is largely over, as the impact of patent expiries will ease of going into 2014. With the pace of austerity anticipated to remain unchanged, we expect to see uptake of generic drugs increase, and increasing costs being laid upon patients - such as the recent increase of prescription charges.
Headline Expenditure Projections:
- Pharmaceuticals: EUR2.17bn (US$2.75bn) in 2012 to EUR2.01bn (US$2.68bn) in 2013; -7.1% in local currency terms and -2.8% in US dollar terms. Forecast broadly in line with previous quarter.
- Healthcare: EUR14.95bn (US$17.99bn) in 2012 to EUR15.19bn (US$20.21bn) in 2013;
+1.6% in local currency terms and +6.4% in US dollar terms. Forecast upwardly revised from previous quarter.
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