Business Monitor International


Finland Pharmaceuticals & Healthcare Report

Published 13 March 2014

  • 71 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Finland Pharmaceuticals & Healthcare Report

BMI View: Pharmaceutical companies operating in Finland will continue to be target s of cost-containment policies and experience more price erosions and generic competition. However, the country will remain attractive to multinational drugmakers due to its excellent regulatory environment, ageing population and preference for patented medicines .

Headline Expenditure Projections

  • Pharmaceuticals: EUR2.96bn (US$3.91bn) in 2013 to EUR3.02bn (US$3.83bn) in 2014;+1.8% in local currency terms and -2.1% in US dollar terms. Forecast downwardly revised due to changes to macroeconomic forecast.

  • Healthcare: EUR17.46bn (US$23.05bn) in 2013 to EUR17.94bn (US$22.78bn) in 2014; +2.7% in local currency terms and -1.2% in US dollar terms. Forecast slightly revised downward from Q114.

Risk/Reward Rating

Finland's Risk/Reward Rating score is unchanged from Q114 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

  • Three drugs manufactured in the Finnish city of Turku were awarded marketing authorisation by the European Medicine Agency (EMA) in 2013. The EMA grants marketing authorisation to only 30 drugs every year, meaning that Finland develops every tenth new drug in Europe.

  • The Finnish government's Decree on Pharmaceutical Tariffs will alter retail prices for drugs in Finland. The Decree will decrease the price of expensive drugs and increase that of the least expensive, resulting in savings as the state will pay consumers less in KELA reimbursements. The handling fee for all medicinal products will increase from the current EUR0.39 (US$0.54) to EUR2.17...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Industry Forecast
13
Pharmaceutical Market Forecast
13
Table: Finland Pharmaceutical Sales, Historical Data And Forecasts
15
Healthcare Market Forecast
16
Table: Finland Healthcare Expenditure Trends, Historical Data and Forecasts
17
Table: Finland Government Healthcare Expenditure Trends, Historical Data and Forecasts
18
Table: Finland Private Healthcare Expenditure Trends, Historical Data and Forecasts
18
Prescription Drug Market Forecast
19
Table: Finland Prescription Drug Market Indicators, Historical Data and Forecasts
20
Patented Drug Market Forecast
20
Table: Finland Patented Drug Market Indicators, Historical Data and Forecasts
21
Generic Drug Market Forecast
21
Table: Finland Generic Drug Market Indicators, Historical Data and Forecasts
22
OTC Medicine Market Forecast
22
Table: Finland Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts
23
Pharmaceutical Trade Forecast
23
Table: Finland Pharmaceutical Trade Data And Forecasts (US$mn)
24
Table: Finland Pharmaceutical Trade Data And Forecasts (EURmn)
24
Key Risks To BMI's Forecast Scenario
25
Macroeconomic Forecasts
26
Economic Analysis
26
Macro Outlook
26
Real GDP By Expenditure
26
Risks To Outlook
32
Table: Finland - Economic Activity
32
Industry Risk Reward Ratings
33
Western Europe Risk/Reward Ratings
33
Finland Risk/Reward Ratings
38
Rewards
38
Risks
38
Market Overview
40
Industry Trends And Developments
41
Industry Trends And Developments
41
Epidemiology
41
Health Insurance
42
Research & Development
46
Clinical Trials
47
Regulatory Development
48
Pricing & Reimbursement
50
Intellectual Property
53
Competitive Landscape
55
Table: PIF Members
57
Company Developments
57
Demographic Forecast
59
Demographic Outlook
59
Table: Finland's Population By Age Group, 1990-2020 ('000)
60
Table: Finland's Population By Age Group, 1990-2020 (% of total)
61
Table: Finland's Key Population Ratios, 1990-2020
62
Table: Finland's Rural And Urban Population, 1990-2020
62
Glossary
63
Methodology
65
Pharmaceutical Expenditure Forecast Model
65
Healthcare Expenditure Forecast Model
65
Notes On Methodology
66
Risk/Reward Ratings Methodology
67
Ratings Overview
68
Table: Pharmaceutical Risk/Reward Ratings Indicators
68
Indicator Weightings
69

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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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc