2014-01-03 16:55:31 - Fast Market Research recommends "Spain Pharmaceuticals & Healthcare Report Q1 2014" from Business Monitor International, now available
The Spanish government's multifaceted strategy to contain expenditure on prescription medicines by targeting patients, companies and the healthcare sector in general highlights the challenge companies face selling their products in the country. While lobbying the government to ease up on measures targeting the pricing of drugs may work to ease pressures on revenues, we believe the complexity of the cost-containment measures will inevitably continue to work against companies.
Headline Expenditure Projections
* Pharmaceuticals: EUR24.99bn (US$31.74bn) in 2012 to EUR24.08bn (US$32.03bn) in 2013; -3.6% in local currency terms and -0.9% in US dollar terms.
* Healthcare: EUR99.61bn (US$126.51bn) in 2012 to EUR98.91bn (US$131.54bn) in 2013; -0.7% in local currency terms and 4.0% in US dollar terms.
In BMI's Pharmaceutical Risk/Reward Ratings
(RRRs) for Q114, Spain is ranked 11th out of the 14 countries surveyed in Western Europe. While Spain offers investors positive features, 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.
Full Report Details at
- www.fastmr.com/prod/759070_spain_pharmaceuticals_healthcare_repo ..
Key Trends And Developments
In December 2013, Spain's largest drugmaker Almirall announced that it is to restructure its European workforce, which will see the loss of 250 jobs in its home market of Spain, equivalent to 15% of the local workforce. Approximately half of the company's workforce is employed in Spain.
On November 11, Novartis announced a definitive agreement to divest its blood transfusion diagnostics unit to Spanish company Grifols for US$1.675bn. The blood transfusion diagnostics unit formed part of Novartis Vaccines and Diagnostics. Not included in the sale was the Novartis Companion Diagnostics unit, or the Genoptix business. This sale forms part of a wider strategic review that was put into action following the appointment of new Chairman Joerg Reinhardt, who was appointed in August. The company is aiming to create a scalable businesses with the potential to compete globally.
BMI Economic View: We forecast Spain's economy to return to growth and expand by 0.7% in 2014, on the back of steady export growth. Nevertheless, fiscal austerity and weak investment spending will drag on the recovery, while dire labour market conditions stifle private consumption.
BMI Political View: Popular support for Spain's ruling People's Party (PP) government will remain low over the coming quarters, as the country's modest economic recovery fails to translate into significantly lower unemployment or larger disposable incomes. Corruption allegations are likely to continue being levelled at the government, boosting support for traditionally smaller political parties and Catalan independence in 2014.
Partial Table of Contents:
BMI Industry View
- BMI Industry View
- Business Environment
- Pharmaceutical Market Forecast
- Table: Spain Pharmaceutical Sales, Historical Data And Forecasts
- Healthcare Market Forecast
- Table: Spain Healthcare Expenditure Trends, Data And Forecasts
- Table: Spain Government Healthcare Expenditure Trends, Historical Data and Forecasts
- Table: Spain Private Healthcare Expenditure Trends, Historical Data and Forecasts
- Prescription Drug Market Forecast
- Table: Spain Prescription Drug Market Indicators, Historical Data And Forecasts
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators - Historical Data And Forecasts
- Generic Drug Market Forecast
- Table: Spain Generic Drug Market Indicators, Historical Data And Forecasts
- OTC Medicine Market Forecast
- Table: Spain OTC Medicine Market Indicators, Historical Data And Forecasts
- Pharmaceutical Trade Forecast
- Table: Spain Pharmaceutical Trade Data And Forecasts (US$mn)
- Table: Spain Pharmaceutical Trade Data And Forecasts (EURmn)
- Other Healthcare Data
- Key Risks To BMI's Forecast Scenario
- Economic Analysis
- Table: Spain - Economic Activity
Industry Risk Reward Ratings
- Western Europe Risk/Reward Ratings
- Spain Risk/Reward Ratings
Industry Trends And Developments
- Healthcare Sector
- Table: Regional Public Hospital Debt - Values In EURmn
- Research & Development
- Clinical Trials
- Intellectual Property Issues
- Parallel Trade
- OTC Medicines
- Generic Medicines
- Pricing Regime
- Reference Pricing System
- Reimbursement Regime
- Pharmaceutical Sector
- Generic Drug Sector
- Biotechnology Sector
- Pharmaceutical Retail
- Merck & Co
- Table: Spain's Population By Age Group, 1990-2020 ('000)
- Table: Spain's Population By Age Group, 1990-2020 (% of total)
Full Table of Contents is available at:
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