Business Monitor International


Ireland Pharmaceuticals & Healthcare Report

Published 13 March 2014

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

BMI View: We see little prospect of the Irish government relenting its targeting the pharmaceuticals and healthcare sector for cost savings in 2014. While Ireland successfully exited its EUR85bn bailout with the EU/IMF in December 2013, the governing Fine Gael/Labour coalition will persevere with austerity measures. Pharmaceutical companies operating in Ireland therefore face significant downside risk, illustrated by a number of multinationals' recent withdrawal s from the country. However, the attractions of Ireland's tax regime and its reputation for expertise in research and development will sustain pharmaceutical companies' keenness to gain a domestic foothold in the industry.

Headline Expenditure Projections

  • Pharmaceuticals: EUR2.01bn (US$2.66bn) in 2013 to EUR1.91bn (US$2.42bn) in 2014; -5.4% in local currency terms and -9.0% in US dollar terms. Forecast downwardly revised from previous quarter due to falling profitability of pharmaceutical sector.

  • Healthcare: EUR15.31bn (US$20.21bn) in 2013 to EUR15.64bn (US$20.21bn) in 2014; +2.2% in local currency terms and +6.2% in US dollar terms. Forecast broadly in line with previous quarter.

Risk/Reward Ratings

For Q214, Ireland has fallen further, to 14 th place out of 15 countries in our rankings - from 13 th in Q114. Although at 62.0 the country's score has remained unchanged, its position in our ratings matrix has slipped due to the inclusion of Norway in 11 th place this quarter. Ireland currently only ranks higher than the struggling market of Portugal, as it was previously overtaken by Spain and Italy in our reassessment of the ratings in Q114.

Key Trends And Developments

  • In February 2014 it was reported that health insurance premiums are rising rapidly in Ireland. State-run VHI Healthcare announced a 3% hike on some of its health insurance policies in the week ended January 1 2014, following which Laya Healthcare also increased its premiums by 10%. The recent price rise has been attributed to...

Table of Contents

BMI Industry View
7
SWOT
9
Political
10
Economic
11
Industry Forecast
12
Pharmaceutical Market Forecast
12
Table: Ireland Pharmaceutical Sales, Historical Data And Forecasts
13
Healthcare Market Forecast
14
Table: Ireland Healthcare Expenditure Trends, Historical Data And Forecasts
16
Table: Ireland Government Healthcare Expenditure Trends, Historical Data And Forecasts
16
Table: Ireland Private Healthcare Expenditure Trends, Historical Data And Forecasts
16
Prescription Drug Market Forecast
17
Table: Ireland Prescription Drug Market Indicators, Historical Data And Forecasts
19
OTC Medicine Market Forecast
19
Table: Ireland Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts
20
Pharmaceutical Trade Forecast
20
Table: Top 20 Export Companies In 2012
22
Table: Ireland Pharmaceutical Trade Data And Forecasts (US$mn)
23
Table: Ireland Pharmaceutical Trade Data And Forecasts (EURmn)
23
Key Risks To BMI's Forecast Scenario
23
Macroeconomic Forecasts
25
Economic Analysis
25
Table: Ireland - Economic Activity
31
Industry Risk Reward Ratings
32
Western Europe Risk/Reward Ratings
32
Ireland Risk/Reward Ratings
37
Rewards
37
Risks
38
Market Overview
39
Industry Trends And Developments
41
Epidemiology
41
Healthcare Sector
42
Health Insurance
43
Research And Development
44
Clinical Trials
45
Regulatory Development
47
Regulatory Regime
47
Regulatory Developments
48
Intellectual Property Issues
49
Reimbursement Regime
49
Pricing Regime
51
Competitive Landscape
55
Pharmaceutical Sector
55
Domestic Industry
55
Foreign Industry
57
Table: Pharmaceutical Companies In Ireland
61
Pharmaceutical Distribution
62
Demographic Forecast
63
Demographic Outlook
63
Table: Ireland's Population By Age Group, 1990-2020 ('000)
64
Table: Ireland's Population By Age Group, 1990-2020 (% of total)
65
Table: Ireland's Key Population Ratios, 1990-2020
66
Table: Ireland's Rural And Urban Population, 1990-2020
66
Glossary
67
Methodology
69
Pharmaceutical Expenditure Forecast Model
69
Healthcare Expenditure Forecast Model
69
Notes On Methodology
70
Risk/Reward Ratings Methodology
71
Ratings Overview
72
Table: Pharmaceutical Risk/Reward Ratings Indicators
72
Indicator Weightings
73

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

Key Benefits

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