Slovakia Pharmaceuticals and Healthcare Report Q3 2009

Slovakia Pharmaceuticals and Healthcare Report Q3 2009

Published By: Business Monitor International
June 2009
R302-6644
Online Download $495.00

Description

Following an update to our macroeconomic variables as a result of both the eurozone accession andglobal economic downturn, BMI now expects Slovakia’s pharmaceutical expenditure to grow toEUR2.06bn (US$2.62bn) by 2013. While this is below our previous expectations, it still represents ahealthy compound annual growth rate (CAGR) of 8.9% over the forecast period.

However, the short-term economic figures remain grim. According to data released by Slovakia’sStatistics Office, industrial output was down by 18.0% year-on-year (y-o-y) in March 2009, comparedwith a decline of 25.6% in February 2009. The market had expected a drop of 21.2% in March. Thepharmaceutical products market also fell by 15.1% y-o-y during March 2009. During Q109, overallindustrial production was down by 22.9% y-o-y. BMI estimates drug market expenditure in Slovakiashould increase from US$2.04bn in 2008 to US$2.60bn in 2013, a rise of 27.5%.

According to reports in the Slovak Spectator, the economic downturn is causing budgetary concerns atSlovakia’s largest state-owned health insurer, Vseobecná Zdravotná Poistovna (VsZP). For the first threemonths of the year, VsZP reportedly faces a shortfall of EUR25mn. By the end of the year, as theeconomic situation deteriorates and unemployment rises - thus reducing payroll contributions - theinsurer may fall EUR63mn behind its planned EUR2.07bn in revenue. As a result of the financial crisis,VsZP has implemented a number of emergency cost-containment measures and claims that its main focuswill be on securing the most urgent healthcare. However, there are concerns that waiting lists mayincrease as resources are squeezed, while some hospital budgets may be reduced in the second half of2009. Currently, VsZP’s contracts with healthcare providers only run until the middle of 2009, giving theinsurer the chance to re-negotiate terms in a few months - an option that it is likely to take.

Meanwhile, in January 2009, the Ministry of Health amended the reference price system in order toreduce pharmaceutical spending as a proportion of the total health budget. Under the new system, drugprices will be referenced against the six lowest-cost EU countries. It is estimated that Slovakia spends athird of its total health budget on medicines, with this total growing each year. In 2007, health insurersspent EUR892mn on pharmaceuticals. During the first nine months of 2009, the insurers had already paidout EUR706mn. In recent years, the main drivers of growth have been the arrival on the market of newand expensive treatments, coupled with the gradual ageing of the population, which is increasing demandfor treatment.

In the BMI Business Environment Ranking matrix for Q309, Slovakia scored 56.2for its overallpharmaceutical rating, lower than in Q209. The new score has placed Slovakia in 4th position, out of the20 markets surveyed in Central and Eastern Europe (CEE).

Table of Contents

Executive Summary: SWOT Analysis; Slovakia Pharmaceuticals Industry SWOT; Slovakia Political SWOT; Slovakia Economic SWOT; Slovakia Business Environment SWOT; Pharmaceutical Business Environment Ratings
Table: Regional Pharmaceutical Business Environment Ratings Q309: Limits Of Potential Returns; Risks To Realisation Of Returns; Slovakia - Market Summary; Regulatory Regime; Generics Legislation; Recent Regulatory Developments; Intellectual Property Regime; IP Deficiencies; Pricing Regime; Reimbursement Regime; Pricing Developments; Eurozone Entry
Table: Slovakia - Exchange Rate Policy: Industry Trends And Developments; Epidemiology
Table: Main Causes Of Mortality And Morbidity In Slovakia, 2006
Table: Disease Burden In CEE: Healthcare Sector; Healthcare Sector Reforms; Health Insurance; Recent Health Insurance Developments; Healthcare Funding Crisis; Regional Healthcare Sector Developments; Pharmaceutical Industry; Recent Pharmaceutical Industry Developments; Research And Development; Industry Forecast Scenario; Overall Market Forecast
Table: Slovakia - Drug Expenditure Indicators, 2004-2013: Key Growth Factors - Industry
Table: Slovakia - Health Market Indicators, 2004-2013: Key Growth Factors - Macroeconomic
Table: Slovakia - Economic Activity, 2006-2013: Prescription Market Forecast
Table: Slovakia - Prescription Market Indicators, 2004-2013 (US$mn unless otherwise stated): OTC Market Forecast
Table: Slovakia - OTC Market Indicators, 2004-2013 (US$mn unless otherwise stated): Patented Market Forecast
Table: Slovakia - Patented Market Indicators, 2004-2013: Generic Drug Market Forecast
Table: Slovakia - Generic Market Indicators, 2004-2013: Export/Import Forecasts
Table: Slovakia - Pharmaceutical Trade Indicators, 2004-2013: Medical Devices Forecast
Table: EU Medical Device Classifications
Table: Slovakia Medical Device Market Forecast , 2004 - 2012: Other Healthcare Data Forecasts
Table: Slovakia - Other Healthcare Indicators, 2004-2013: Key Risks To BMI’s Forecast Scenario; Competitive Landscape; Company Monitor; Multinational Company Profiles; GlaxoSmithKline (GSK); Sanofi-Aventis; Pfizer; Novartis; Merck & Co; Roche; Indigenous Company Profiles; Zentiva (incorporating Sicomed); Biotika; Hoechst-Biotika; Imuna Pharma; Country Snapshot: Slovakia Demographic Data; Section 1: Population:
Table: Demographic Indicators
Table: Rural/Urban Breakdown: Section 2: Education & Healthcare
Table: Education
Table: Healthcare: Vital Statistics: Section 3: Labour Market And Spending Power
Table: Employment Indicators
Table: Consumption And Stratification
Table: Wages Per Year: BMI Forecast Modelling; How We Generate Our Pharmaceutical Industry Forecasts; Pharmaceutical Business Environment Ratings Methodology; Ratings Overview
Table: Pharmaceutical Business Environment Indicators: Weighting
Table: Weighting Of Components: Sources

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