Business Monitor International


Romania Pharmaceuticals & Healthcare Report

Published 28 February 2014

  • 121 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Romania Pharmaceuticals & Healthcare Report

BMI View: Romania's pharmaceutical market will post moderate growth over the short term due to continued focus on price controls, limited reimbursement of pharmaceuticals and stubbornly high unemployment levels. Unemployment levels and the state of Romania's economy directly impact revenues for the state insurer; while the country's economic picture in early 2014 is improving, the benefits will not be felt until the medium term. These issues continue to weigh down our assessment of the Romanian pharmaceutical and healthcare market in Q214.

Headline Expenditure Projections

  • Pharmaceuticals: RON13.96bn (US$4.17bn) in 2013 to RON14.51bn (US$4.10bn) in 2014; +4.0% in local currency terms and -1.7% in US dollar terms. US dollar forecast revised down from Q114 due to leu depreciation.

  • Healthcare: RON36.85bn (US$11.00bn) in 2013 to RON38.88bn (US$10.97bn) in 2014; +5.5% in local currency terms and -0.3% in US dollar terms.

Risk/Reward Rating

Romania has a RRR score of 55.0 out of 100, making it the sixth-most attractive pharmaceutical market in the Central and Eastern Europe region. Although over the long term Romania promises a positive growth story, punitive taxes, pricing controls and a lack of funding by the state for reimbursing patients will moderate the market's attractiveness to drugmakers in the short term

Key Trends And Developments

  • Romania faces a brain drain of skilled medical professionals, as border restrictions are lifted in all Western European countries.

  • Export bans on specific cancer medicines and hepatitis drugs have been imposed after a shortage was reported countrywide as parallel exports picked up.

  • Drugmakers have called for changes to the calculation of the clawback tax; generic drugmakers are specifically calling for a loosening of the tax burden placed on them versus innovative drugmakers.

  • In March 2014, the reimbursement list will finally be updated, although we believe generic drugs will primarily see inclusion on the new...

Table of Contents

BMI Industry View
7
SWOT
9
Political SWOT
11
Economic SWOT
12
Business Environment
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Romania Pharmaceutical Sales, Historical Data And Forecasts, 2010-2018
17
Healthcare Market Forecast
18
Table: Romania Healthcare Expenditure Trends, Historical Data And Forecasts, 2010-2018
19
Table: Romania Government Healthcare Expenditure Trends, Historical Data And Forecasts, 2010-2018
19
Table: Romania Private Healthcare Expenditure Trends, Historical Data And Forecasts, 2010-2018
20
Prescription Drug Market Forecast
21
Table: Romania Prescription Drug Market Indicators, Historical Data And Forecasts, 2009-2017
22
Patented Drug Market Forecast
23
Table: Romania Patented Drug Market Indicators, Historical Data And Forecasts, 2010-2018
24
Generic Drug Market Forecast
25
Table: Romania Generics Drug Market Indicators, Historical Data And Forecasts, 2010-2018
26
OTC Medicine Market Forecast
27
Table: Romania Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts, 2010-2018
28
Pharmaceutical Trade Forecast
29
Table: Romania Pharmaceutical Trade Data And Forecasts (US$mn), 2010-2018
31
Table: Romania Pharmaceutical Trade Data And Forecasts (RONmn), 2010-2018
31
Other Healthcare Data
32
Key Risks To BMI's Forecast Scenario
33
Macroeconomic Forecasts
36
Table: Romania - Economic Activity
40
Industry Risk Reward Ratings
41
Central And Eastern Europe Risk/Reward Ratings
41
Romania Risk/Reward Ratings
47
Rewards
47
Risks
48
Market Overview
50
Industry Trends And Developments
51
Epidemiology
51
Healthcare System
53
Private Healthcare Provision
54
Healthcare Reform
55
Pharmaceutical Sector Developments
56
Research And Development (R&D)
57
Clinical Trials
58
Medical Devices
58
Regulatory Development
60
Regulatory Regime
60
Pharmaceutical Advertising
61
Intellectual Property Regime
61
Corruption
62
Pricing Regime
63
Reimbursement Regime
64
Latest Claw-Back Tax Developments
68
Competitive Landscape
70
Pharmaceutical Sector
70
Domestic Industry
70
Foreign Industry
71
Table: Members Of ARPIM, 2013
71
Pharmaceutical Company Developments
72
Pharmaceutical Wholesale
73
Pharmaceutical Retail
73
Company Profile
75
Zentiva
75
Actavis
78
Terapia Ranbaxy
81
Antibiotice Iasi
84
LaborMed Pharma
87
GlaxoSmithKline
89
Roche
92
Sanofi
94
Novartis
96
Pfizer
98
Krka
100
Merck & Co
102
Demographic Forecast
104
Table: Romania's Population By Age Group, 1990-2020 ('000)
105
Table: Romania's Population By Age Group, 1990-2020 (% of total)
106
Table: Romania's Key Population Ratios, 1990-2020
107
Table: Romania's Rural And Urban Population, 1990-2020
107
Glossary
108
Methodology
110
Pharmaceutical Expenditure Forecast Model
110
Healthcare Expenditure Forecast Model
110
Notes On Methodology
111
Risk/Reward Ratings Methodology
112
Ratings Overview
113
Table: Pharmaceutical Risk/Reward Ratings Indicators
113
Indicator Weightings
114

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

Key Benefits

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