Business Monitor International


Finland Pharmaceuticals & Healthcare Report

Published 17 June 2014

  • 71 pages
 
$1,295.00
Finland Pharmaceuticals & Healthcare Report

BMI View: Innovative drugmaker revenues will remain under threat in Finland. The Finnish government is committed to containing rising healthcare costs and despite company concerns regarding falling drug prices, we believe the success of the annual decline in reimbursed medicine prices will result in the government maintaining the generic reference pricing system that is in place. Amplifying price pressures on patented medicines are the unsystematic price cuts on medicines, which are more disruptive to drugm aker revenue streams in Finland .

Headline Expenditure Projections

  • Pharmaceuticals: EUR2.96bn (USD3.91bn) in 2013 to EUR3.02bn (USD4.04bn) in 2014;+1.8% in local currency terms and 3.3% in US dollar terms. Forecast upwardly revised due to changes to macroeconomic forecast.

  • Healthcare: EUR18.39bn (USD24.27bn) in 2013 to EUR18.94bn (USD25.37bn) in 2014; +3.0% in local currency terms and 4.5% in US dollar terms. Forecast revised upward from Q214 due to new historical data.

Risk/Reward Rating

Finland's Risk/Reward Rating score is unchanged from Q214 at 68.8 out of 100 due to demographic data changes. This places the country seventh in our rankings in terms of attractiveness to investors. Finland's strong emphasis on the regulatory environment is an appealing feature of the market, although scope for drugmakers is constrained by its small overall market size. Nevertheless, given high per capita drug expenditure, companies operating in the country can see substantial incomes.

Key Trends And Developments

  • The latest PhRMA submission to the 2014 Special 301 report by the US Trade Representative (USTR) has placed Finland on the Watch List. Key concerns for Finland include its pharmaceutical price erosion mechanisms, poor intellectural property protection and reimbursement delays.

  • In May 2014, Alexza Pharmaceuticals' Adasuve (loxapine inhalation powder) was to be launched in Sweden, Norway, Finland and Denmark by Medivir, for the treatment of mild-to-moderate...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Industry Forecast
13
Pharmaceutical Market Forecast
13
Table: Pharmaceutical Sales, Historical Data And Forecasts (Finland 2010-2018)
16
Healthcare Market Forecast
17
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Finland 2010-2018)
18
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Finland 2010-2018)
19
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Finland 2010-2018)
19
Prescription Drug Market Forecast
20
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Finland 2010-2018)
21
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Finland 2010-2018)
23
Generic Drug Market Forecast
24
Table: Generics Drug Market Indicators, Historical Data And Forecasts (Finland 2010-2018)
25
OTC Medicine Market Forecast
26
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Finland 2010-2018)
27
Pharmaceutical Trade Forecast
28
Table: Pharmaceutical Trade Data And Forecasts (Finland 2012-2018)
29
Table: Pharmaceutical Trade Data And Forecasts local currency (Finland 2012-2018)
29
Key Risks To BMI's Forecast Scenario
30
Macroeconomic Forecasts
31
Economic Analysis
31
Table: Finland - Economic Activity
35
Industry Risk Reward Ratings
36
Western Europe Risk/Reward Ratings
36
Finland Risk/Reward Ratings
41
Rewards
41
Risks
41
Market Overview
43
Industry Trends And Developments
44
Industry Trends And Developments
44
Epidemiology
44
Health Insurance
45
Research & Development
49
Clinical Trials
50
Regulatory Development
51
Pricing & Reimbursement
53
Intellectual Property
56
Competitive Landscape
58
Table: PIF Members
60
Company Developments
60
Demographic Forecast
62
Table: Finland's Population By Age Group, 1990-2020 ('000)
63
Table: Finland's Population By Age Group, 1990-2020 (% of total)
64
Table: Finland's Key Population Ratios, 1990-2020
65
Table: Finland's Rural And Urban Population, 1990-2020
65
Glossary
66
Methodology
68
Pharmaceutical Expenditure Forecast Model
68
Healthcare Expenditure Forecast Model
68
Notes On Methodology
69
Risk/Reward Ratings Methodology
70
Ratings Overview
71
Table: Pharmaceutical Risk/Reward Ratings Indicators
71
Indicator Weightings
72

The Finland Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Finland Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Finnish pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Finland to test other views - a key input for successful budgeting and strategic business planning in the Finnish pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Finnish pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Finland.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View & Industry SWOT

An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.

Market Summary

Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.

Industry Developments

Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

BMI Industry Forecasts

Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Healthcare: Total healthcare expenditure (US$bn), healthcare expenditure (% of GDP), healthcare expenditure per capita (US$), hospital beds (per `000 population), doctors (per `000 population), birth and mortality rate (per `000 population)

Pharmaceutical market: Drug expenditure (US$bn), drug expenditure (% of GDP), drug expenditure per capita (US$)

Patented drug market: Prescription drug sales (US$bn), prescription sales (% of total sales), sales broken down by 14 therapeutic areas (cardiovascular, anti-infectives etc.)

Generic drug market: Generic product sales (US$bn), generic sales (% of total sales)

OTC drug market: OTC sales (US$bn), OTC sales (% of total sales), sales broken down by product types (analgesics, skin treatments, vitamins and minerals etc.)

Medical Devices: Medical device sales (US$bn), medical device sales (% of total healthcare market)

Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against US$, government expenditure, external debt.

Competitive Landscape

The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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