2013-02-28 15:04:38 - Fast Market Research recommends "Spain Pharmaceuticals & Healthcare Report Q1 2013" from Business Monitor International, now available

BMI View: The move towards increased out-of-pocket drug expenditure (via the de-reimbursement of medicines and increased medicine co-payments) will put more pressure on the finances of the Spanish population. Double-digit unemployment, deflating asset prices (particularly real estate) and rising inflation (which is eating into real wages) have already significantly weakened final demand and in addition to the drug price erosion mechanisms employed by the government, will significantly restrict drug companies' revenue-earning opportunities.


Full Report Details at
- www.fastmr.com/prod/536440_spain_pharmaceuticals_healthcare_repo ..


Headline Expenditure Projections

* Pharmaceuticals: EUR20.15bn (US$28.01bn) in 2011 to EUR18.34bn (US$23.30bn) in 2012; -9.0% in local currency terms and -16.8% in US dollar terms.
* Healthcare: EUR104.99bn (US$145.93bn) in 2011 to EUR105.43bn (US$133.91bn)

in 2012; +0.4% in local currency terms and -8.2% in US dollar terms.
* Medical Devices: EUR4.32bn (US$6.01bn) in 2011 to EUR4.35bn (US$5.52bn) in 2011; +0.7% in local currency terms and -8.0% in US dollar terms.

Risk/Reward Ratings: In BMI's Pharmaceutical Risk/Reward Ratings (RRRs) for Q113, Spain is ranked eighth out of the 10 countries surveyed in Western Europe. While Spain offers investors positive factors, such as its large drug market, it also has problems, such as the government's focus on cost containment, low population growth, cumbersome bureaucracy and provincial differences regarding drug regulations and reimbursement.

Key Trends And Developments

* In the first nine months of 2012 (9M12), government spending on prescription medicines reached EUR7.6bn (US$9.8bn), a 10.6% drop from the EUR8.5bn (US$11.0bn) spent in 9M11 and an 18.4% drop from the EUR9.3bn (US$12.0bn) spent in 9M10.
* Between January and September 2012 outstanding public hospital debts to drug companies stood at EUR2.57bn (US$3.26bn). The average delay for payments was more than 242 days, well above the 40- day invoice period.

BMI Economic View: The Spanish economy is in the midst of a major economic depression, with a return to the 2008 peak unlikely before 2019. Although it is increasingly likely that the government will seek a financial bailout, we stress that this will provide short-term relief rather than a long-term cure. Overcoming double-digit unemployment and a 'brain drain', restructuring the banking sector and restoring international competitiveness will be a long and arduous task with significant risks to economic growth and financial stability in the meantime.

BMI Political View: Spain's ongoing economic malaise has put several structural political issues into the spotlight. Challenges over the next decade will include unemployment, demographic changes and constitutional questions.

Report Table of Contents:

BMI Industry View
- Executive Summary
SWOT
- Spain Pharmaceuticals And Healthcare Industry SWOT
- Political
- Economic
- Business Environment
Industry Forecast
- Overall Market Forecast
- Table: Spain Pharmaceutical Sales Indicators 2008-2016
- Key Growth Factors - Industry
- Table: Spain Healthcare Indicators 2008-2016
- Economic Analysis
- Table: Spain - Economic Activity
- Presription Drug Market Forecast
- Table: Spain Prescription Drug Sales Indicators 2008-2016
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators 2008-2016
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2008-2016
- OTC Medicines Market Forecast
- Table: Spain OTC Medicine Sales Indicators 2008-2016
- Pharmaceutical Trade Forecast
- Table: Table: Exports and Imports Indicators 2008-2016
- Medical Device Market Forecast
- Table: Medical Devices Sales Indicators 2008-2016
- Other Healthcare Data
- Key Risks
Industry Risk Reward Ratings
- Pharmaceuticals Risk/Reward Ratings
- Table: Western Europe Pharmaceuticals And Healthcare Risk/Reward Ratings, Q113
Market Overview
Industry Trends And Developments
- Epidemiology
- Healthcare Sector
- Research & Development
- Clinical Trials
- Medical Devices
Regulatory Development
- Intellectual Property Issues
- Parallel Trade
- OTC Medicines
- Generic Medicines
- Pricing Regime
- Reference Pricing System
- Reimbursement Regime
Competitive Landscape
- Pharmaceutical Sector
- Generic Drug Sector
- Biotechnology Sector
- Pharmaceutical Retail
Company Profile
- Almirall
- Esteve
- GlaxoSmithKline
- Pfizer
- Novartis
- Sanofi
- Merck & Co
Demographic Forecast
- Table: Spain's Population By Age Group, 1990-2020 ('000)
- Table: Spain's Population By Age Group, 1990-2020 (% of total)
- Table: Spain's Key Population Ratios, 1990-2020
- Table: Spain's Rural And Urban Population, 1990-2020
Glossary
Methodology
- Methodology
- Risk/Reward Ratings Methodology
- Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
- Weighting
- Table: Weighting Of Components
- Sources

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