Business Monitor International


Greece Pharmaceuticals & Healthcare Report

Published 07 July 2014

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

BMI View: The Greek pharmaceutical and healthcare sector will continue contract over the medium-to-long term. Although Greece's financial outlook has stabilised and debts are being paid down, the government will continue to target the pharmaceutical and healthcare industry to reduce public spending. We highlight, however, that the generic drug sector and private healthcare industry will present some growth opportunities in the country.

Headline Expenditure Projections

  • Pharmaceuticals: EUR5.64bn (USD7.45bn) in 2013 to EUR5.27bn (USD6.70bn) in 2014; -6.6% in local currency terms and -10.1% in US dollar terms. Forecast remains unchanged from Q214.

  • Healthcare: EUR15.19bn (USD20.05bn) in 2013 to EUR14.16bn (USD17.98bn) in 2014; -6.8% in local currency terms and -10.3% in US dollar terms. Forecast upgraded from previous quarter due to revised historical data.

Risk/Reward Rating: Greece's position in our Risk/Reward Ratings remains unchanged for another quarter, at 58 out of 100, making it once more the fourth most attractive pharmaceutical market in Central and Eastern Europe. Out of the 20 countries in our ratings, Greece comes behind Russia, but ahead of Turkey. Although Greece's financial outlook has stabilised and debts are being paid down, the spectre of further price cuts, clawback taxes and the EOPYY's inability to pay drugmakers in a timely manner present significant risks to the industry.

Key Trends And Developments

  • In May 2014, Greece's Health Minister Adonis Georgiadis said that private pharmaceutical companies can fill gaps in the healthcare system in times of high pressure when the public National Organization for Medicines (EOF) cannot meet demand.

  • In the same month, the European Commission (EC), the International Monetary Fund (IMF), and the European Central Bank (ECB), pressurised Greece to increase the prescription of cheaper generic medicines, which thus far has only reached around 20%.

  • In April 2014, the Association of Pharmaceutical...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Pharmaceutical Sales, Historical Data And Forecasts (Greece 2010-2018)
17
Healthcare Market Forecast
18
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2010-2018)
19
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2010-2018)
19
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2010-2018)
20
Prescription Drug Market Forecast
20
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Greece 2010-2018)
22
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Greece 2010-2018)
24
Generic Drug Market Forecast
24
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Greece 2010-2018)
26
OTC Medicine Market Forecast
26
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Greece 2010-2018)
28
Table: OTC Medicine Sales Breakdown, 2007-2010
28
Pharmaceutical Trade Forecast
29
Table: Pharmaceutical Trade Data And Forecasts (Greece 2012-2018)
30
Table: Pharmaceutical Trade Data And Forecasts local currency (Greece 2012-2018)
31
Key Risks To BMI's Forecast Scenario
31
Macroeconomic Forecasts
33
Table: Greece - Economic Activity
37
Industry Risk Reward Ratings
38
Central And Eastern Europe Risk/Reward Ratings
38
Greece Risk/Reward Ratings
45
Rewards
45
Risks
46
Market Overview
47
Industry Trends And Developments
50
Epidemiology
50
Healthcare Sector
52
Healthcare Sector Developments
55
Healthcare Insurance
60
Healthcare Infrastructure
61
Table: Inpatient Facilities And Beds By Speciality, 2008
62
Table: Outpatient Facilities And Beds By Region, 2008
63
Research And Development
63
Clinical Trials
64
Regulatory Development
65
Intellectual Property Regime
66
Pricing Regime
67
Reimbursement Regime
72
Competitive Landscape
75
Company Activity
76
Government Activity
77
Parallel Pharmaceutical Exports
78
Pharmaceutical Retail Sector
78
Table: Pharmacies By Region, 2007-2009
80
Company Profile
81
Alapis Pharma
81
Elpen
83
Genesis Pharma
85
Kleva
87
Lavipharm
88
Pharmathen
90
Vianex
92
Abbott Laboratories
94
GlaxoSmithKline
96
Merck Sharp & Dohme
98
Novartis
100
Sanofi
102
Pfizer
104
Demographic Forecast
106
Demographic Outlook
106
Table: Greece's Population By Age Group, 1990-2020 ('000)
107
Table: Greece's Population By Age Group, 1990-2020 (% of total)
108
Table: Greece's Key Population Ratios, 1990-2020
109
Table: Greece's Rural And Urban Population, 1990-2020
109
Glossary
110
Methodology
112
Pharmaceutical Expenditure Forecast Model
112
Healthcare Expenditure Forecast Model
112
Notes On Methodology
113
Risk/Reward Ratings Methodology
114
Ratings Overview
115
Table: Pharmaceutical Risk/Reward Ratings Indicators
115
Indicator Weightings
116

The Greece 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 Greece Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Greek pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Greece to test other views - a key input for successful budgeting and strategic business planning in the Greek pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Greek pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Greece.
  • 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