Business Monitor International


Spain Pharmaceuticals & Healthcare Report

Published 18 March 2014

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

BMI View: The weakened Spanish economy and the government's ongoing multi-faceted strategy to contai n expenditure on prescription medicines by targeting patients, companies and the overall healthcare sector present challenges to drugmakers operating in the country. Despite calls made by companies for the implementation of a system that adequately rewards innovation and supports investment in future medicines, the government is likely to remain committed to fiscal consolidation and will continue to target the healthcare sector. We forecast yearly decline s in pharmaceutical spending until 2018, followed by marginal recovery thereafter.

Headline Expenditure Projections

  • Pharmaceuticals: EUR24.09bn (USD31.79bn) in 2013 to EUR22.81bn (USD30.57bn) in 2014; -5.3% in local currency terms and -3.8% in US dollar terms.

  • Healthcare: EUR102.08bn (USD134.75bn) in 2013 to EUR102.69bn (USD137.60bn) in 2014; +0.6% in local currency terms and 2.1% in US dollar terms.

Risk/Reward Rating

In BMI's Pharmaceutical Risk/Reward Ratings (RRRs) for Q314, Spain scored 65.4 and ranked 12th out of the 15 countries surveyed in Western Europe. While Spain offers investors positive features, such as its large drug market, it also has problems, such as the government's focus on cost containment, low population growth, cumbersome bureaucracy and provincial differences regarding drug regulations and reimbursement.

Key Trends And Developments

In May 2014, Spain's Minister for Enterprise and Employment, Felip Puig, visited French pharmaceutical company Sanofi's facility in Girona, Catalonia, Spain and stressed the importance of Catalonia as an industrial centre for international companies. Puig stated that Sanofi's plant would help maintain a competitive position in terms of attracting and retaining quality industrial investments. The facility employs 229 people and specialises in manufacturing tablets and capsules. The plant exports 80% of its production to France, Germany and...

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 (Spain 2010-2018)
15
Healthcare Market Forecast
16
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Spain 2010-2018)
17
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Spain 2010-2018)
17
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Spain 2010-2018)
18
Prescription Drug Market Forecast
19
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
21
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
23
Generic Drug Market Forecast
24
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
25
OTC Medicine Market Forecast
26
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
27
Pharmaceutical Trade Forecast
28
Table: Pharmaceutical Trade Data And Forecasts (Spain 2012-2018)
29
Table: Pharmaceutical Trade Data And Forecasts local currency (Spain 2012-2018)
29
Other Healthcare Data
30
Key Risks To BMI's Forecast Scenario
30
Macroeconomic Forecasts
31
Economic Analysis
31
Table: Spain - Economic Activity
36
Industry Risk Reward Ratings
37
Western Europe Risk/Reward Ratings
37
Spain Risk/Reward Ratings
42
Rewards
42
Risks
42
Market Overview
44
Industry Trends And Developments
45
Epidemiology
45
Healthcare Sector
46
Table: Regional Public Hospital Debt - Values In EURmn
47
Research & Development
49
Clinical Trials
51
Regulatory Development
53
Intellectual Property Issues
54
Parallel Trade
55
OTC Medicines
56
Generic Medicines
57
Pricing Regime
57
Reference Pricing System
59
Reimbursement Regime
62
Competitive Landscape
63
Pharmaceutical Sector
63
Generic Drug Sector
64
Biotechnology Sector
65
Pharmaceutical Retail
68
Company Profile
70
Almirall
70
Esteve
74
GlaxoSmithKline
78
Pfizer
81
Novartis
84
Sanofi
86
Merck & Co
88
Demographic Forecast
90
Table: Spain's Population By Age Group, 1990-2020 ('000)
91
Table: Spain's Population By Age Group, 1990-2020 (% of total)
92
Table: Spain's Key Population Ratios, 1990-2020
93
Table: Spain's Rural And Urban Population, 1990-2020
93
Glossary
94
Methodology
96
Pharmaceutical Expenditure Forecast Model
96
Healthcare Expenditure Forecast Model
96
Notes On Methodology
97
Risk/Reward Ratings Methodology
98
Ratings Overview
99
Table: Pharmaceutical Risk/Reward Ratings Indicators
99
Indicator Weightings
100

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

Key Benefits

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