Business Monitor International


Romania Pharmaceuticals & Healthcare Report

Published 04 September 2014

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

BMI View:   Sales data ha ve provided support to our earlier view that Romania's pharmaceutical market recovery would be consumer - driven. The underlying dynamics have been driven by improvements in the consumer outlook and the country's macroeconomic prospects, in line with the views of our Country Risk team. Provided unemployment continues to pare down and economic growth continues, the pharmaceutical market will continue on its current growth trajectory.

Headline Expenditure Projections

  • Pharmaceuticals: RON13.96bn (USD4.17bn) in 2013 to RON14.65bn (USD4.38bn) in 2014; +5.0% in local currency terms and 5.0% in US dollar terms. US dollar forecast revised up from Q314 due to leu appreciation.

  • Healthcare: RON30.05bn (USD8.97bn) in 2013 to RON31.30bn (USD9.35bn) in 2014; +4.1% in local currency terms and 4.2% in US dollar terms. 

Risk/Reward Rating

Romania has a RRR score of 55.1 out of 100, making it the seventh 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

  • The Ministry of Health is proposing an increase in healthcare insurance contributions from 10% of income to almost 15% to address sustainability concerns and bolster funding.

  • Domestic drugmakers are ramping up for a pick-up in exports over the coming quarters.

  • New criteria will be written up for the reimbursement list, enabling a significant update of included drugs.

  • The Ministry of Health withdrew two draft amendments that would have increased the reimbursement budget and enabled favourable pricing structures for drugmakers, drawing criticism from the local drugmakers' association.

  • Sanofi transferred the packaging and production operations of 22 of its branded products to Romania, highlight the...

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, 2010-2018
15
Healthcare Market Forecast
16
Table: Healthcare Expenditure Trends - Historical Data And Forecasts, 2010-2018
17
Table: Government Healthcare Expenditure Trends - Historical Data And Forecasts, 2010-2018
17
Table: Private Healthcare Expenditure Trends - Historical Data And Forecasts, 2010-2018
18
Prescription Drug Market Forecast
19
Table: Prescription Drug Market Indicators - Historical Data And Forecasts, 2010-2018
20
Patented Drug Market Forecast
21
Table: Patented Drug Market Indicators - Historical Data And Forecasts, 2010-2018
22
Generic Medicine Market Forecast
23
Table: Generic Drug Market Indicators - Historical Data And Forecasts, 2010-2018
24
OTC Medicine Market Forecast
25
Table: Over-The-Counter (OTC) Medicine Market Indicators - Historical Data And Forecasts, 2010-2018
26
Pharmaceutical Trade Forecast
27
Table: Pharmaceutical Trade Data And Forecasts, 2012-2018
28
Table: Pharmaceutical Trade Data & Forecasts (Local Currency), 2012-2018
28
Other Healthcare Data
29
Key Risks To BMI's Forecast Scenario
30
Macroeconomic Forecasts
32
Table: Economic Activity (Romania 2009-2018)
37
Industry Risk Reward Ratings
38
Central And Eastern Europe Risk/Reward Ratings
38
Romania Risk/Reward Ratings
45
Rewards
45
Risks
45
Market Overview
47
Industry Trends And Developments
48
Epidemiology
48
Healthcare System
49
Private Healthcare Provision
51
Healthcare Reform
52
Pharmaceutical Sector Developments
53
Research And Development (R&D)
54
Clinical Trials
55
Medical Devices
55
Regulatory Development
57
Pharmaceutical Advertising
58
Intellectual Property Regime
58
Corruption
59
Pricing Regime
60
Reimbursement Regime
61
Latest Claw-Back Tax Developments
65
Competitive Landscape
67
Pharmaceutical Sector
67
Domestic Industry
67
Foreign Industry
67
Table: Members Of ARPIM, 2013
68
Pharmaceutical Company Developments
69
Pharmaceutical Wholesale
70
Pharmaceutical Retail
70
Company Profile
72
Zentiva
72
Actavis
75
Terapia Ranbaxy
78
Antibiotice Iasi
81
LaborMed Pharma
84
GlaxoSmithKline
86
Roche
89
Sanofi
91
Novartis
93
Pfizer
95
Krka
97
Merck & Co
99
Demographic Forecast
101
Demographic Outlook
101
Table: Romania's Population By Age Group, 1990-2020 ('000)
102
Table: Romania's Population By Age Group, 1990-2020 (% of total)
103
Table: Romania's Key Population Ratios, 1990-2020
104
Table: Romania's Rural And Urban Population, 1990-2020
104
Glossary
105
Methodology
107
Pharmaceutical Expenditure Forecast Model
107
Healthcare Expenditure Forecast Model
107
Notes On Methodology
108
Risk/Reward Ratings Methodology
109
Ratings Overview
110
Table: Pharmaceutical Risk/Reward Ratings Indicators
110
Indicator Weightings
111

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