Business Monitor International


Ireland Pharmaceuticals & Healthcare Report

Published 17 December 2014

  • 82 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: The US Treasury Department 's modification of tax rules in order to discourage tax inversions will continue to curb the number of M&A deals in the pharmaceutical industry that allow companies to be headquarter ed in Ireland. This is reflected in the recent withdrawal of various M&A deals, including the termination of the merger between AbbVie and Shire, for which transaction terms were already under negotiation when the new rules came into effect. However, the trend of consolidation in the pharmaceutical sector will remain for the foreseeable future, while Irish - listed equities will continue to be the subject of substantial M&A interest due to attractive drug pipelines, labour force e xpertise and a benign tax regime. Meanwhile, Ireland's robust economic recovery, combined with rising private consumption and a deceleration in government spending cuts, pose upside risks to pharmaceuticals and healthcare sector growth forecasts over the coming quarters.

Headline Expenditure Projections

  • Pharmaceuticals: EUR2.10bn (USD2.77bn) in 2013 to EUR2.01bn (USD2.69bn) in 2014; -4.0% in local currency terms and -2.3% in US dollar terms. Forecast broadly in line with previous quarter.

  • Healthcare: EUR13.00bn (USD17.16bn) in 2013 to EUR13.02bn (USD17.45bn) in 2014; 0.2% in local currency terms and 1.7% in US dollar terms. Forecast broadly in line with previous quarter.

Risk/Reward Index: Ireland's Pharmaceutical Risk/Reward Index (RRI) score for Q115 is 61.9 out of 100, lower than the regional score of 68.0, placing it 14th out of 15 countries in Western Europe. Despite a high level of per capita drug spending (comparable to Sweden and higher than the Netherlands and Italy), Ireland's RRI score is dragged down by a comparatively small population, and the effects of austerity measures, which weigh on Ireland's Reward indices. However, in terms of business environment and Risk indices, Ireland boasts substantially high scores, including a...

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 (Ireland 2010-2018)
14
Healthcare Market Forecast
15
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Ireland 2010-2018)
17
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Ireland 2010-2018)
17
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Ireland 2010-2018)
17
Prescription Drug Market Forecast
18
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Ireland 2010-2018)
20
OTC Medicine Market Forecast
20
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Ireland 2010-2018)
21
Pharmaceutical Trade Forecast
21
Table: Top 20 Export Companies In 2012
22
Table: Pharmaceutical Trade Data And Forecasts (Ireland 2012-2018)
23
Table: Pharmaceutical Trade Data And Forecasts local currency (Ireland 2012-2018)
24
Other Healthcare Data
24
Table: Ireland Other Healthcare Indicators
24
Key Risks To BMI's Forecast Scenario
24
Macroeconomic Forecasts
26
Economic Analysis
26
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
44
Research And Development
45
Clinical Trials
46
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
60
Pharmaceutical Distribution
61
Demographic Forecast
62
Demographic Outlook
62
Table: Ireland's Population By Age Group, 1990-2020 ('000)
63
Table: Ireland's Population By Age Group, 1990-2020 (% of total)
64
Table: Ireland's Key Population Ratios, 1990-2020
65
Table: Ireland'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 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 Ireland pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market 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 using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

BMI Industry View

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

BMI Industry Forecast Scenario

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
  • Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
  • Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
  • Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
  • OTC Drug Market: OTC sales (USDbn & % of total sales).
  • 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 USD, government expenditure and external debt.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Summary

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

Industry Developments

A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

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 analysis of the overall regulatory burden.

Competitive Landscape

The competitive landscape section provides comparative company analyses and index by USD 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.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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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