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With over 30 years of continuous research and editorial experience in the global health industry, Espicom is one of the longest established independent business intelligence providers operating today. 
Espicom produces original analysis, news and forecasts using its skilled and experienced team of more than 30 full-time in-house analysts, researchers and editorial experts. With a combined experience of over 200 years they cover key disciplines including pharmacology, biosciences, economics statistics and languages. In addition, a select group of experts are on hand in respect of specialist scientific/technology areas. We do not use freelancers or subcontractors to produce our class leading subscription and intelligence services. This gives us control and you confidence. 



Mauritius Pharmaceuticals Report
The Mauritius Pharmaceuticals 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 Mauritius Pharmaceuticals Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Mauritius pharmaceutical and healthcare industry. Key Benefits Benchmark BMI's pharmaceutical and healthcare market forecasts for Mauritius, to test other views a key input for successful budgeting and strategic business planning in the Mauritian pharmaceutical and healthcare market. Target business opportuniti
Published Date: Feb 2015
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The Pharmaceutical Market: Namibia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN NAMIBIA Namibia has many of the qualities exhibited by frontier pharmaceutical markets: very low percapita spending on medicines, limited access to healthcare facilities, a high prevalence of communicable diseases and constrained ability to pay for advanced therapeutics. Nevertheless, due to low growth rates in developed states, multinational drugmakers are increasingly displaying interest, albeit tentatively, in Namibia.  Headline Expenditure Forecasts Pharmaceuticals:NAD1.98bn (US$273mn) in 2011 to NAD2.19bn (US$268mn) in 2012; +11.0% in local currency and -1.7% in US dollar terms. Forecast slightly down in local currency termsand US dollar termsdue to macroeconomic factorsand Namibian dollar weakness, respectively. Healthcare:N
Published Date: Jan 2015
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The Pharmaceutical Market: Puerto Rico
OVERVIEW OF THE PHARMACEUTICAL MARKET IN PUERTO RICO The outcome of the upcoming elections is expected to assist in shaping the development of Puerto Rico's healthcare and pharmaceutical markets, depending on the direction of the new governor's economic policies. Nevertheless, we do not expect a return to the historically-high annual rates of pharmaceutical spending, especially as the government now covers less than 40% of theterritory'soverall healthcare spending. In the meantime, the territory will remain an important pharmaceutical and medical devices production base, although its attractiveness has been on the wane for some time now. Headline Expenditure Projections Pharmaceuticals: US$2.81bn in 2011 to US$2.88bn in 2012; +2.5% in local currency terms. Forecast unchanged
Published Date: Dec 2014
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The Pharmaceutical Market: Oman
Oman Pharmaceuticals & Healthcare Report Oman's commendable public healthcare system and high-class tertiary and quaternary care hospitals will increase the uptake of medical tourism by GCC citizens. The Omani pharmaceutical market will continue to remain heavily reliant on imports due to the costly need to source raw ingredients for local manufacturing and lack of R&D backing. However, despite t he strict drug pricing system, we are likely to see more multinational companies penetrating the market and expanding volume sales, by addressing the increasing burden of non-communicable diseases in the country. Headline Expenditure Projections Pharmaceuticals: OMR151mn (US$391mn) in 2011 to OMR166mn in 2012; +9.9% in local currency terms and +11.3% in US dollar terms. Fore
Published Date: Dec 2014
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The Pharmaceutical Market: Colombia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN COLOMBIA Improvements in Colombia's pharmaceutical re gulation system will expand local patients' access to medicines. However, it will also p ut pricing pressure s on drugmakers, and promote the use of generic versions, which will undermine the growth of patented drug market. Nevertheless, BMI expects more foreign pharmaceutical co mpanies to invest in Colombia, capitalising on the country's strong long-term growth prospects. Headline Expenditure Projections Pharmaceuticals: COP7,076bn (US$3.83bn) in 2011 to COP7,612bn (US$4.23bn) in 2012; +7.6% in local currency terms and +10.4% in US dollar terms. Forecastbroadly in line withQ4 12. Healthcare: COP29,953bn (US$16.21bn) in 2011 to COP31,557bn (US$17.53bn) in 2012; +5.4% growth in lo
Published Date: Dec 2014
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The Pharmaceutical Market: Bangladesh
THE PHARMACEUTICAL MARKET: BANGLADESH - REVIEW While geographic diversification and investment into the pharmaceutical and healthcare sector of emerging economies, such as Bangladesh, may be a favourable strategy for any multinational pharmaceutical company - it is vital that a company recognises both the rewards and the risks present in a market. With regards to assessing risks in the Bangladeshi healthcare sector, we have identified those emanating from the state's political/economic profile (such as high inflation) and industry specific dangers (such as low per-capita spending and poor access to healthcare facilities) that call into question the likelihood of anticipated returns being realised over the assessed time period. Headline Expenditure Projections Pharmaceuticals
Published Date: Dec 2014
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The Pharmaceutical Market: Kazakhstan
Kazakhstan Pharmaceuticals & Healthcare Report Kazakhstan ' s pharmaceutical market remains the most accessible, transparent and, from a legislative point of view, progressive in Central Asia. In terms of market size, its potential is limited by its relatively small population (15mn) and logistical challenges. In the short term, Kazakhstan ' s market development is driven by a balanced policy of import substitution and integration into regional (Customs Union) and global (World Trade Organisation) systems. Over the longer term, the country could leverage its favourable business environment and regional ties to supply neighbouring states, such as Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan, all of which have growing populations and lack domestic production capacity. The cou
Published Date: Dec 2014
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The Pharmaceutical Market: Sudan & South Sudan
Sudan & South Sudan Pharmaceuticals & Healthcare Report Sudan and South Sudan's will continue to be of least interest to foreign pharmaceutical firms in the Middle East and North Africa region as the countries are plagued by high inflation, fiscal constraints and underdeveloped non-oil economies. Political risk remains elevated as many disputes between them are still unresolved. These macroeconomic uncertainties will mean lack of focus on public healthcare provision, which further complicates the problem that the general population are unable to afford expensive pharmaceuticals.  Headline ExpenditureProjections Pharmaceuticals: SDG1.49bn (US$556mn) in 2011 to SDG1.93bn (US$472mn) in 2012; 30.0% in local currency terms with a contraction of 15.1% in US dollar ter
Published Date: Dec 2014
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The Pharmaceutical Market: Taiwan
OVERVIEW OF THE PHARMACEUTICAL MARKET IN TAIWAN We continue to view Taiwan as a challenging market for multinationals, mostly on account of the difficult pricing and reimbursement environment, which is due to undergo further changes. Specifically, as part of the Second Generation National Health Insurance (NHI) programme, which becomes effective in 2013, a new reimbursement system is expected to be rolled out in Taiwan. The American Chamber of Commerce in Taipei (AmCham), in its latest White Paper published in 2012, wrote that it hoped that the new system - known as the Drug Reimbursement Item and Payment Scheme (DRIPS) - will not become so complicated as to cause delays in patient access to innovative new drugs. Headline Expenditure Projections Pharmaceuticals: TWD135.10bn (U
Published Date: Dec 2014
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The Pharmaceutical Market: Myanmar
OVERVIEW OF THE PHARMACEUTICAL MARKET IN MYANMAR Despite its small size, Myanmar's pharmaceutical market offers drugmakers strong revenue-earning opportunities. Generic and over-the-counter drug companies in particular stand to benefit, as the population's per capita expenditure on pharmaceuticals and healthcare remains low but set to rise. However we believe that the country remains a high-risk market as a result of political risks arising from ethnic tensions, in addition to the challenging economic framework - the result of corruption and unclear regulations. Headline Expenditure Projections Pharmaceuticals: MMK241.2bn (US$280mn) in 2012 to MMK279.5bn (US$320mn) in 2013; +15.9% in local currency terms and 14.1% in US dollar terms. Healthcare: MMK992.5bn (US$1.1bn) in 201
Published Date: Dec 2014
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The Pharmaceutical Market: Lebanon
Lebanon Pharmaceuticals & Healthcare Report Although this quarter has seen a number of regulatory initiatives taken by the Lebanese Minister of Health, Ali Hassan Khalil , to improve the state of the pharmaceutical industry, we maintain that a multilateral approach is required to improve foreign direct investment (FDI) in to the country and that , in the short to medium term, investment will be deterred and medical tourism revenue diminished by wider macroeconomic and political vulnerabilit i es. Nonetheless, BMI holds to the view that the country provides stable opportunities for multinationals to tap into the cultural prioritisation for medicines and benefit from the increasingly - urbanized population, although risk s include a relatively weak regulatory framework, poor intelle
Published Date: Dec 2014
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The Pharmaceutical Market: Turkey
OVERVIEW OF THE PHARMACEUTICAL MARKET IN TURKEY The cooling economic environment and the weakening lira has moderated optimistic forecasts on the Turkish pharmaceutical market, especially as the government is the single largest reimburser of pharmaceuticals, covering 80-85% of total drug expenditure through various insurance and immunisation schemes. Price cutting and public discount decrees announced in November 2011 continue to affect the pharmaceutical market in 2012, as highlighted by the decrease in pharmaceutical spending in the first half of this year. Headline Expenditure Projections Pharmaceuticals: TRY17.21bn (US$10.24bn) in 2011 to TRY16.35bn (US$9.03bn) in 2012; -5.0% in local currency terms and -11.8% in US dollar terms. Localcurrencyforecastdowngradedfrom Q412o
Published Date: Nov 2014
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The Pharmaceutical Market: Zambia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN ZAMBIA The majority of investment in Zambia's healthcare market stems from international aid agencies - so the news that the government has increased its allocation for healthcare spending in the 2013 budget will be well received by both NGOs and international investors as a sign that Zambia is taking its commitment to healthcare seriously. The country suffers from a burden of both communicable and non-communicable diseases, with a high incidence of HIV and AIDs, malaria, and problems such as cholera emerging in Q4 12, but it is making progress. The government claims it has already met its millennium development goals for turbercolosis, and is on target to meet other healthcare goals. Risks remain, such as the presence of counterfeit and substa
Published Date: Nov 2014
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The Pharmaceutical Market: The Netherlands
OVERVIEW OF THE PHARMACEUTICAL MARKET IN THE NETHERLANDS While the Netherlands is a low-risk market from the point of view of multinational drugmakers, the country's modest per capita expenditure on pharmaceuticals relative to other Western European countries is an issue. Another challenge facing drugmakers is cost-containment, which will only intensify as the Netherlands enters a period of slower economic growth. In fact, as we warned , the Dutch authorities recently introduced a new scheme - reimbursement for medicines that prove therapeutically ineffective will be reclaimed from the manufacturer - to reduce public healthcare costs. BMI notes that the 'no cure, no pay' scheme implemented by the Dutch government is not a new concept , with t he US government and a number of Western E
Published Date: Nov 2014
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The Pharmaceutical Market: Germany
OVERVIEW OF THE PHARMACEUTICAL MARKET IN GERMANY While the Arzneimittelmarkt-Neuordnungsgesetz ( AMNOG ) legislation will compress drug companies' revenue-earning opportunities in Germany, we believe the government's decision to make the final reimbursement prices of medicines sold in the country publicly available, and the use of reference pricing across the region, will also lead to price reductions in other countries, providing an aggregation of pricing pressures on companies operating throughout Europe . For its part, the German pharmaceutical market is expected to decline in value by a compound annual growth rate (CAGR) of 0.5% through to 2016, as expressed in local currency terms, or by 3.4% in US dollars. Headline Expenditure Projections Pharmaceuticals: EUR39.67bn (U
Published Date: Nov 2014
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The Pharmaceutical Market: Austria
OVERVIEW OF THE PHARMACEUTICAL MARKET IN AUSTRIA The macroenvironment for the Austrian pharmaceutical industry is positive. Economic recovery is strengthening, with modest GDP real growth projected in 2012 and 2013. However, the EIU projects that Austria will be affected by the expected euro zone recession. Legally, laws on intellectual property and patent provision are in line with WTO/TRIPS regulations. Healthcare expenditure has continued its steady growth in recent years. The principal challenge facing the Austrian healthcare system is rising costs. The main reason for this is an ageing population and the uptake of new, more expensive pharmaceuticals.  Cardiovascular drugs are leaders in the Austrian pharmaceutical market, both in terms of value and volume. Other leading t
Published Date: Nov 2014
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The Pharmaceutical Market: South Africa
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SOUTH AFRICA The government drive to support local production and reduce the country's reliance on imports, in addition to global epidemiological and demographic trends, are all positive factors contributing to long-term growth in the pharmaceutical market. However, deep segregation between private and public healthcare facilities continues to leave the vast majority of the population without medical care. BMI believes this will be rectified through the creation of the National Health Insurance scheme over the next decade, but in the meantime unemployment, lack of education and geographical inaccessibility to healthcare for the wider population will continue to hinder growth in the market. Headline Expenditure Projections Pharmaceuti
Published Date: Jul 2014
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The Pharmaceutical Market: United Arab Emirates
OVERVIEW OF THE PHARMACEUTICAL MARKET IN UNITED ARAB EMIRATES The United Arab Emirates'healthcare and pharmaceutical markets continue to be thestrongest in the region.Its growth prospects arestrong -we forecast high single-digit CAGRsover the course of our 10-year forecast period. Several factors are driving growth: incomes are high, as isthe UAE's expatriate population.These elements combine to increase private healthcare expenditure and demand for innovative drugs. Local drug production facilities are also gaining strength, with domestic player Julphar opening a new factory, and multinational drug firms are also entering the market. In addition, there areplans forseveral new hospital and healthcare facilities,whichwill boost future demand for pharmaceuticals. The UAE's appeal
Published Date: Jul 2014
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The Pharmaceutical Market: Qatar
Qatar Pharmaceuticals & Healthcare Report According to recent reports in The Gulf Times, Qatar will have four new drug manufacturers by the end of Q113. The drugmakers will reportedly import their raw materials and produce tablets, syrups and injectables. It is anticipated the drug manufacturers will (in our view eventually) help curb reliance on imports and lower prices of retail medicines in the country as a result of increased local competition, according to Dr Aisha al-Ansari of the Supreme Council of Health Pharmacy and Drug Control Department (SCH). If the production facilities are opened on schedule, we will revise our forecasts accordingly. Generally speaking, however, we expect Qatar to remain greatly reliant on imported medicines, given the high level of consumption of p
Published Date: Jul 2014
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The Medical Device Market: USA
OVERVIEW OF THE MEDICAL MARKET IN THE USA At an estimated US$127.1bn in 2013, the US medical device market is the world's largest. Per capita expenditure, at US$399, is the highest in the world. Much of the market is in private hands; there is no single health system. Public healthcare systems, known as Medicaid, for those on low incomes, are operated by each State. Since 1960, the Medicare system has provided hospital care for the elderly; this has also provided prescription drug coverage since 2006. President Obama succeeded in signing his healthcare reform bill into law on 23rd March 2010. The bill, formally called the Patient Protection and Affordable Care Act (PPACA) HR 3590, will eventually extend health insurance cover to an estimated 32mn Americans who do not have any f
Published Date: Jul 2014
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The Pharmaceutical Market: Slovakia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SLOVAKIA Slovak Prime Minister Robert Fico plans to unify the country'sprivate and public health insurance funds into a single state-owned insurer, but there is likely to be a lengthy negotiation and a legal battle before this is realised. We do not expect either of the two private insurers - Dôvera or Dutch-owned Union - will surrender their businesses without a fight, with Union in particular well-placed toopposethe move, potentially invoking EU law on protectionism. The outcome of thissteptowards a single insurer is broadly neutral for BMI's healthcare expenditure projections and is unlikely to have any meaningful impact until 2014 at the earliest, after which it would be negative for private healthcare providers. Headline Expendi
Published Date: Jul 2014
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The Medical Device Market: Bangladesh
OVERVIEW OF THE MEDICAL MARKET IN BANGLADESH Bangladesh remains one of the poorest countries in the world. Poverty is widespread throughout and GDP is extremely low, despite it being the eighth most populous country on earth. Frequent large scale flooding also remains a constant threat. Government funding is low and the country continues to rely on international aid. An unstable political environment tarnished by corruption has made healthcare reform somewhat of an afterthought. There is a marked disparity in the standard of healthcare between rural and urban areas. The capital city Dhaka enjoys a higher standard of primary care, and is home to a modest but growing private sector while healthcare coverage in remote regions remains insufficient. Bangladesh has virtually no domes
Published Date: Jul 2014
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The Pharmaceutical Market: Ghana
Ghana Pharmaceuticals & Healthcare Report We remain of the view that Ghana will be a regional outperformer in terms of the development of its pharmaceutical and healthcare markets over the medium to longer term . On the other hand, reliance on donations and foreign aid to provide some of the medical services and treatments will continue to negatively impact the development of the local drug manufacturing industry. We expect this situation to continue until the government makes substantial investments in the sector, which would in turn improve the country's export competitiveness. Headline Expenditure Projections Pharmaceuticals: GHC480mn (US$311mn) in 2011 to GHC568mn (US$299mn) in 2012; +18.3% in local currency terms and -3.7% in US dollar terms. Local currency forecas
Published Date: Jul 2014
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The Medical Device Market: Germany
OVERVIEW OF THE MEDICAL MARKET IN GERMANY Germany has one of the most advanced economies in the world. GDP is estimated at US$3.6trn in 2013, equal to around US$44,000 per capita, making the German economy the fourth largest, behind the USA, China and Japan. As one of the world's largest exporters, the German economy has been hard hit by the poor global economic climate Economic growth is expected to remain modest with GDP now forecast to rise by 0.5% in 2013, having grown by an estimated 0.7% in 2012. However, this still makes Germany by far the strongest of the major euro economies, many of which are estimated to have seen negative growth in 2012. At 11.0% of GDP, healthcare expenditure is at a high level but is increasingly constrained. The domestic market remains tight, wit
Published Date: Jul 2014
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The Medical Device Market: Romania
OVERVIEW OF THE MEDICAL MARKET IN ROMANIA Romania spends around 5.8% of GDP on healthcare. Government health expenditure is very low, even by Eastern European standards. However, improvements to the health system continue to be supported by World Bank-sponsored projects. The 'Health Sector Reform Project APL II', was approved in December 2004 and will run until December 2013. It aims to improve maternity and newborn care, emergency medical care and rural primary healthcare. Most activities envisaged under the project have been completed and some targets were exceeded in 2011. The total project cost is estimated at US$206.5mn. The MoH is to provide over 50 medical units across the country with additional funding in 2013. The deputy Health Minister, Raed Arafat, has requested that
Published Date: Jul 2014
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The Pharmaceutical Market: Indonesia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN INDONESIA Indonesia's new goal to establish universal healthcare coverage by 2019 rather than 2014 is more feasible given that the programme will be rolled out in phases. We continue to see universal healthcare coverage as a key theme in Asia, although poor governance in several countries across the region will delayitsimplementation. Despite this, pharmaceutical firms will continue to enjoy strong growth in the region due to the expanding, increasingly ageing and affluent population, which will boost volume demand for pharmaceuticals as well as medical services across the board. HeadlineExpenditure Projections Pharmaceuticals: IDR53,041bn (US$6.04bn) in 2011 to IDR58,657bn (US$6.25bn) in 2012; +10.6% growth in local currency terms a
Published Date: Jul 2014
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The Pharmaceutical Market: Norway
OVERVIEW OF THE PHARMACEUTICAL MARKET IN NORWAY The macroenvironment for the Norwegian pharmaceutical industry is improving. Politically, the centre-left coalition is expected to hold together at least until the general election in September 2013, but the risk of the coalition breaking up has grown. Economically, the recession was far less pronounced in Norway than in most other European countries and economic recovery is now strengthening. Legally, laws on intellectual property and patent provision are in line with WTO/TRIPS regulations. However, Norway remains on the USTR’s Watch List in 2011 for concerns over patent protection. Demographically, the population is ageing, increasing demand for pharmaceuticals in the near term. The introduction of international reference pric
Published Date: Jul 2014
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The Pharmaceutical Market: Vietnam
OVERVIEW OF THE PHARMACEUTICAL MARKET IN VIETNAM Corruption will continue to affect Vietnam's pharmaceutical and healthcare business environment and potentially delay the introduction of universal healthcare coverage for its people. While corruption is a clear downside risk, we maintain that the sector still offers strong growth opportunities for foreign investors. Headline Expenditure Projections Pharmaceuticals: VND50,081bn (US$2.43bn) in 2011 to VND61,910bn (US$2.94bn) in 2012; +23.6% in local currency terms and +21.4% in US dollar terms. Healthcare: VND157, 666bn (US$7.63bn) in 2011 to VND181,879bn (US$8.65bn) in 2012; +15.4% in local currency terms and +13.3% in US dollar terms. Medical devices: VND15,137bn (US$733mn) in 2011 to VND17,029bn (US$810mn) in 2012; +12.5%
Published Date: Jul 2014
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The Medical Device Market: Austria
OVERVIEW OF THE MEDICAL MARKET IN AUSTRIA Although a relatively small market, Austria has a high level of per capita spending on medical devices. The market for medical equipment and supplies is valued at US$2,527mn in 2013, equal to US$299 per capita. Austria is a federal republic, comprising nine constituent federal states: Burgenland, Carinthia, Lower Austria, Salzburg, Styria, Tyrol, Upper Austria, Vienna and Vorarlberg. The supreme federal executive organs are the Federal President and the members of the Federal Government, headed by the Federal Chancellor. The Chancellor is Werner Faymann, the leader of the centre-left Social Democratic Party (SPÖ) which governs in a coalition with the conservative Austrian People's Party (ÖVP). The current President is Heinz Fischer
Published Date: Jul 2014
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The Medical Device Market: Colombia
OVERVIEW OF THE MEDICAL MARKET IN COLOMBIA Colombia is the third most populous country in Latin America, behind Brazil and Mexico, with a population of 48mn. The capital, Santa Fe de Bogotá, has a population of around 7mn. The population is relatively young and growing rapidly thanks to a high birth rate and a low mortality rate. Colombia is the fourth largest economy in Latin America, after Brazil, Mexico and Argentina, and ranks within the top 30 largest economies in the world. In 2013, GDP is forecast to reach US$379.0bn, equivalent to around US$7,869 per capita. Economic growth remains well above average for the Latin American region with GDP forecast to rise 4.1% in real terms during 2013. The country's healthcare infrastructure is adequate in the larger urban areas
Published Date: Jul 2014
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The Medical Device Market: Poland
OVERVIEW OF THE MEDICAL MARKET IN POLAND Poland has the second largest economy in Central & Eastern Europe, although in per capita terms it is around average. According to BMI, GDP is estimated at US$529.0bn in 2013 and is expected to increase by an average 3.5% per annum between 2014 and 2018, reaching US$733.7bn. GDP per capita will rise from US$13,800 in 2013 to US$19,117 in 2018. Funding for healthcare in Poland is principally through the health insurance system. The National Health Fund (NFZ) was established in 2003, replacing the 16 Regional Health Funds. The government is looking to change the structure of the NFZ in 2013. Financing remains a problem, although Poland has boosted spending levels since 2004. It now spends around 6.7% of GDP on healthcare. This still
Published Date: Jun 2014
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The Pharmaceutical Market: Cuba
OVERVIEW OF THE PHARMACEUTICAL MARKET IN CUBA Cuban health expenditure is the lowest in the Americas region. Nearly all health expenditure will be accountable to the public sector in the 2011-2016 period. Due to fluctuating GDP rates, expenditure as a percentage of GDP is expected to oscillate between 11.6% and 12.9% in the forecast period. Given that all medical care is officially free, private expenditure is limited to unofficial payments to officials and healthcare professionals, and health tourism. Locally-produced drugs do not operate in a market as such, and therefore it is difficult to place a value on them. The economy is expected to do well in the 2011-2016 period, and the Economist Intelligence Unit (EIU) believes that mid-term economic policy is expected to be focused on
Published Date: Jun 2014
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The Pharmaceutical Market: USA
OVERVIEW OF THE PHARMACEUTICAL MARKET IN THE USA Despite assertions from some stakeholders, the r e-election of Barack Obama as President of the United States is not bad news for pharmaceutical companies and medical device manufacturers, primarily because we expect continuation of existing policies that have generally been favourable. However, we caution that further reforms to the he althcare sector are inevitable, due to unsustainable spending on medical services, by both the public and private sectors. Headline Expenditure Projections Pharmaceuticals: US$337.1bn in 2011 to US$343.1bn in 2012; +1.3% growth in local currency terms. Forecastslightly down from Q4 12. Healthcare: US$2,708bn in 2011 to US$2,844bn in 2012; +5.0% growth in local currency terms. Forecastslightly
Published Date: Jun 2014
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The Pharmaceutical Market: Chile
OVERVIEW OF THE PHARMACEUTICAL MARKET IN CHILE Pharmaceutical companies will continue to look to fast growing emerging markets for revenue growth, and we believe that Latin American economies, with rising incomes, ageing populations and increased spending on healthcare will provide significant opportunities. Indeed, it is our view that emerging markets will be the main drivers of the pharmaceutical sector's expansion over the coming years as growth in traditional markets such as the US, Western Europe and Japan remains lacklustre. We note however, that imported patented and high-cost drugs, mostly originating from Europe and the US, account for a significant portion of the Latin American pharmaceutical market in terms of value. Headline Expenditure Projections Pharmac
Published Date: Jun 2014
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The Pharmaceutical Market: Ireland
THE PHARMACEUTICAL MARKET: IRELAND - REVIEW Ireland has experienced rapid economic growth over the past 20 years, and has invested in large scale renovation and redevelopment of its healthcare infrastructure. That said, the country is in the midst of a severe economic downturn, with GDP expected to contract in 2012. Due to the recession and Ireland’s huge budget deficit, the country has received an 85 billion euro (US$113 billion) bailout from the EU and IMF. As a result, the government faces an extremely tight financial operating environment in the next few years. It has generally sought to protect healthcare, especially frontline services, from the kinds of cuts experienced elsewhere, but health is not unaffected. A progression of measures has been introduced as the economic p
Published Date: Jun 2014
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The Medical Device Market: Argentina
OVERVIEW OF THE MEDICAL MARKET IN ARGENTINA Espicom Industry View: TheArgentinemedical device marketranks fifth in Latin America. Espicom forecasts a high 2013-2018 CAGR of 10.9% in US dollar terms, fuelled by increasing health expenditure. Medical device imports areveryhigh, althougharelatively large domestic medical device sectoris operational.The country has recovered from a severe economic crisis in 2002 but has not resolved its long-standing macroeconomic imbalances, which will affect the medical device market in the long-term. Headline Industry Forecasts The Argentine medical device market is valued at US$692.1mn in 2013, ranking fifth in Latin America. Diagnostic imaging accounts for 28.0% of the total, followed by other medical devices (19.9%), consumables (17.5%), pat
Published Date: Jun 2014
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The Medical Device Market: Belarus
OVERVIEW OF THE MEDICAL MARKET IN BELARUS The Belarusian medical device market is small and under-developed. Key metrics, such as health expenditure per capita and medical device spending, are the lowest in Europe. An ailing economy and a political regime resistant to market modernisation, and therefore unattractive to investors, are both dominating factors which limit the development of the healthcare sector and dampen demand. The current president of Belarus is Alexander Lukashenko, who was elected to the post in 1994 and is now serving his fourth term. The most recent elections to the House of Representatives were held in September 2012. Following a boycott of the elections by the two strongest opposition parties – United Civic and the BPF - the parliament is again filled
Published Date: Jun 2014
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The Pharmaceutical Market: Uzbekistan
Uzbekistan Pharmaceuticals & Healthcare Report We maintain the view that risk-averse pharmaceutical, healthcare and medical device companies should avoid Uzbekistan . While the country has a definite need for pharmaceuticals and medical devices, the regulatory environment remains opaque and state-dominated. Moreover, the government is committed to boosting Uzbekistan's domestic capacity for pharmaceutical manufacturing, which is expected to gradually decrease market potential for most generic medicines.  Headline Expenditure Projections Pharmaceuticals: UZS853.25bn (US$498mn) in 2011 to UZS993.00bn (US$563mn) in 2012; up 16.4% in local currency terms and 13.0% in US dollar terms. Forecast unchanged from Q412. Healthcare: UZS4,081bn (US$2.38bn) in 2011 to UZS4,932b
Published Date: Jun 2014
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The Pharmaceutical Market: China
OVERVIEW OF THE PHARMACEUTICAL MARKET IN CHINA We remain bullish on China's pharmaceutical sector despite the slowdown in the economy and political reshuffle. We do not think the reshuffle will have any adverse changes or cause any reversals to healthcare reform given that the country has been rolling out various healthcare schemes in 2012 and that a key person overseeing these healthcare reform plans is Vice Premier Li Keqiang, the man who may potentially take over from Premier Wen Jiabao in the reshuffle. However, the business environment will potentially be threaten by cost- containment policies as the country will have to contain its ever-growing healthcare expenditure. Headline Expenditure Projections Pharmaceuticals: CNY432bn (US66.7bn) in 2011to CNY521bn (US$82.2bn)
Published Date: Jun 2014
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The Pharmaceutical Market: Botswana
OVERVIEW OF THE PHARMACEUTICAL MARKET IN BOTSWANA Growing appreciation of the value of a healthy population, combined with improvements in its economy, will boost investments in medical services. The healthcare system is largely government-funded, and therefore people on low incomes are able to seek medical treatment. However, communication and transport hindrances as well as poor utilisation of existing healthcare services in rural areas means uptake is low. Consequently, it is unlikely Botswana will be of major significance to pharmaceutical and healthcare firms in the short or medium term. Headline Expenditure Projections: Pharmaceuticals: BWP1.50bn (US$200mn) in 2012 to BWP1.65bn (US$200mn) in 2013; +10.0% in local currency terms and +0.4% in US dollar terms.  Heal
Published Date: Jun 2014
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The Pharmaceutical Market: Estonia
THE PHARMACEUTICAL MARKET: ESTONIA - REVIEW Our outlook for the Estonian pharmaceutical market remains unchanged. While epidemiological trends will continue to stimulate the volume development of the market, patent expirations and government encouragement of the consumption of cheaper generic medicine will hamper value growth. The market will remain reliant on imports, which are expected to outperform exports and also the overall market development over the forecast period to 2016. Headline Expenditure Projections Pharmaceuticals: EUR240mn (US$334mn) in 2011 to EUR253mn (US$322mn) in 2012; +5.5% in local currency terms and -3.6% in US dollar terms. Forecast unchanged from Q4 12. Healthcare: EUR909mn (US$1.26bn) in 2011 to EUR945mn (US$1.20bn) in 2012; +3.9% in local currenc
Published Date: May 2014
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The Medical Device Market: South Korea
OVERVIEW OF THE MEDICAL MARKET IN SOUTH KOREA South Korea ranks as one of the world's leading economies, with a population approaching 50 million and overall GDP listed among the top 15 in the world at an estimated US$1,212 billion in 2013, equal to US$24,843 per capita,. As a result, much of the population expects a high level of medical care. The economy is expected to grow at a real rate of 3.0% in 2013, having grown by an estimated 1.9% in 2012. Growth over the following five years is forecast to average 4.6%. South Korea's future economic growth is likely to be tempered by a shrinking workforce due to the rapidly ageing population and by increasing competition from China as a low-cost manufacturing base. South Korea has the highest healthcare expenditure of all the 'Asia
Published Date: May 2014
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The Pharmaceutical Market: Algeria
Algeria Pharmaceuticals & Healthcare Report We remain optimistic about Algeria 's longer term potential as a pharmaceutical market, underpinned by economic and demographic factors. Our view is supported by a number of investments into the local manufacturing sector made by foreign players in recent months, in partnerships with local companies. However, the country does pose numerous operational risks, which will continue to hamper the development of its full potential until the deficiencies are successfully addressed. Headline Expenditure Projections: Pharmaceuticals: DZD218.52bn (US$3.00bn) in 2011 to DZD239.44bn (US$3.19bn) in 2012; +9.6% in local currency terms and +6.5% in US dollar terms. Forecast unchanged from Q4 12. Healthcare: DZD530.66bn (US$7.28bn) in 2011 to
Published Date: May 2014
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The Pharmaceutical Market: Angola
Angola Pharmaceuticals & Healthcare Report Since re-election in August 2012, incumbent President Dos Santos has promised considerable investment in Angola's healthcare and pharmaceutical market. With plans for new hospitals announced - including one expansion financed with Chinese funds - as well as the creation of mini laboratories to conduct quality checks on drugs, the government is taking steps to improve healthcare provision. But between these few, concrete projects, many vague proposals remain, with little detail around how they will be implemented or funded. Revised historical trade data has led to a sharp downward revision of the size of Angola's pharmaceutical market this quarter. These new figures have also led to a reduction of the size of Angola's healthcare market
Published Date: May 2014
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The Pharmaceutical Market: Argentina
Argentina Pharmaceuticals & Healthcare Report Argentina's pharmaceutical market will become increasingly unattractive to multinational pharmaceutical companies, as the double-digit market growth has been mainly driven by the high inflation rate. The strict currency and import restrictions, as well as poor regulatory regime, have further undermined foreign drugmakers' revenue-generating opportunities. A potential currency devaluation in the future will increase Argentina's export of medicines to a certain extent, if the country's structural distorting policies have not eroded its local pharmaceutical production capacity. Headline Expenditure Projections Pharmaceuticals: ARS31.30bn (US$7.58bn) in 2011 to ARS39.60bn (US$8.74bn) in 2012; +26.5% in local currency terms and 15
Published Date: May 2014
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The Pharmaceutical Market: Bulgaria
OVERVIEW OF THE PHARMACEUTICAL MARKET IN BULGARIA The Bulgarian government is planning to earmark some BGN150-160mn (US$98.65-105.23mn) in additional funding for healthcare in 2013, the government's press service cited Prime Minister Boyko Borisov as saying in October 2012 . The funds are expected to be used to purchase new equipment, upgrade hospitals and general ly improve Bulgarian health services. We have long highlighted the likelihood of increased public spending ahead of the 2013 parliamentary election, although we do not foresee significant risks to fiscal sustainability , given that Bulgaria has the second lowest public d ebt load in the European Union - at 17.5% of GDP (end-2011). However, as BMI has been warning since February 2012, the government has pushed ahead with cha
Published Date: May 2014
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The Pharmaceutical Market: Cameroon
Cameroon Pharmaceuticals & Healthcare Report Cameroon will continue to be one of the least attractive countries in the Middle East and Africa region considering that healthcare provision is not one of the government's key focuses. Consequently, poor healthcare services coupled with other risks such as rampant corruption, approval delays and low percapita healthcare and pharmaceutical expenditure meant little growth opportunities for pharmaceutical investors. Headline Expenditure Projections Pharmaceuticals: XAF134.37bn (US$260mn) in 2012 to XAF144.07bn (US$270mn) in 2013; +7.2% in local currency terms and +5.5% in US dollar terms. Healthcare: XAF698.97bn (US$1.35bn) in 2012 to XAF745.18bn (US$1.42bn) in 2013; +6.6% in local currency terms and 4.9% in US dollar terms. Ri
Published Date: May 2014
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The Pharmaceutical Market: Canada
THE PHARMACEUTICAL MARKET: CANADA - REVIEW The relatively high consumption of patented drugs in Canada in comparison with other developed countries remains a positive sign for multinational pharmaceutical companies to maintain their current sales level s by 201 7 . Although innovative drugmakers have also experienced government cost containment policies and the patent cliff in Canada, the negative impact of these phenomena is less extreme than that in many other developed countries. The average cost of generic drugs per prescription experienced its first decline in Canada during 2011, indicating that a more competitive environment for generic drugmakers has been formed, which will ultimately benefit consumers . HeadlineExpenditureProjections Pharmaceuticals: CAD25.81bn (US$26.06
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The Pharmaceutical Market: New Zealand
OVERVIEW OF THE PHARMACEUTICAL MARKET IN NEW ZEALAND Low growth potential in New Zealand's pharmaceutical market will attract risk-averse investors. However, we note that regulatory delays in funding new medicines will hinder patients' access to pharmaceuticals, constituting a downside risk for drug companies looking to sell their products in the country. Headline Expenditure Forecasts Pharmaceuticals: NZD1.35bn (US$1.07bn) in 2011 to NZD1.36bn (US$1.04bn) in 2012; +1.2% in local currency and -2.7% in US dollar terms. Healthcare: NZD19.34bn (US$15.29bn) in 2011 to NZD19.93bn (US$15.14bn) in 2012; +3.0% in local currency and -1.0% in US dollar terms. Medical Devices: NZD814mn (US$644mn) in 2011 to NZD832mn (US$632mn) in 20 12; +2.2% in local currency and -1.8% in US dolla
Published Date: Apr 2014
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The Pharmaceutical Market: Central America
Central America Pharmaceuticals & Healthcare Report The political instability and underdeveloped economies in many Central American countries make the region less attractive to multinationals, compared with most neighbouring countries. However, the heavy reliance on imported medicine in the region provides revenue-generating opportunities for generic drugmakers from neighbouring Latin American countries and India. We highlight that Costa Rica and Panama can be the premier countries in the region for foreign drugmakers to expand their presence . Headline Expenditure Projections Pharmaceuticals: US$3.3bn in 2011 to US$3.5bn in 2012; +5.5% in US dollar terms. Our forecasthas beenrevisedslightly upwardssinceQ412due toimprovedhistorical data. Healthcare: US$13.51bn in 2011 t
Published Date: Apr 2014
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The Pharmaceutical Market: Thailand
OVERVIEW OF THE PHARMACEUTICAL MARKET IN THAILAND The revival of the THB30 healthcare scheme in September 2012 will do little to ease the financial burden the government is facing as a result of the universal healthcare scheme. Nor will it solve existing issues such as the shortage of medical professionals and hospital overcrowding, given that these problems existed when the scheme was first implemented. We highlight that universal healthcare coverage will prove to be financially unsustainable in the long term, due to various factors - including Thailand's ageing population (and therefore increased burden of non-communicable diseases), medical tourism and the creation of the region-wide ASEAN Economic Community 2015 that is leading to the exit of medical professionals from Thailand
Published Date: Apr 2014
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The Pharmaceutical Market: Nigeria
Nigeria Pharmaceuticals & Healthcare Report We acknowledge the Nigerian government's endeavours to crack down on counterfeit drugs and reduce medical tourism out of the country, in addition to achieving, in our view, the overly ambitious goal of relaunching the National HIV Vaccine Plan. However, BMI maintains that the government needs to address fundamental issues in the healthcare sector as a first priority. Poor infrastructure, a brain drain of health professionals and inadequate funding of the public system mean enrolment in the sector will continue to be slow, hindering growth in the market. In the pharmaceuticals sector, BMI maintains the view that strong growth lies ahead, based on the rapidly growing population and emerging middle class, though high unemployment and low p
Published Date: Apr 2014
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The Pharmaceutical Market: Australia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN AUSTRALIA The country's health expenditure will continue to increase with the increasingly ageing population and the need for the government to subsidise more drugs to treat chronic, non-communicable disease. Such a rise in expenditure will attract pharmaceutical firms despite the low growth potential in the developed market. However, given the poor fiscal outlook in the general economy, we believe such a generous healthcare system will be unsustainable over the long term and the country will continue look at cost-cutting measures, negatively affecting the earnings of pharmaceutical firms. Headline Expenditure Projections Pharmaceuticals: AUD12.85bn (US$13.27bn) in 2011 to AUD13.07bn (US$13.59bn) in 2012; +1.6% in local curre
Published Date: Apr 2014
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Understanding Mexicos Regional Health Markets
A combination of healthy macroeconomic growth prospects and the expansion of the state funded Seguro Popular health insurance scheme mean that Mexico's healthcare market has considerable growth potential. We forecast that healthcare spending will increase from MXN965.46bn (US$73.31bn) in 2012 to MXN1,418.09bn (US$119.17bn) in 2017, representing a CAGR of 8.2% in local currency and 10.2% in dollars.  But this forecast conceals regional variations in growth prospects. Factors such as demographics, rural/urban splits, economic prosperity, affiliation to health insurance schemes and medical tourism vary between regions, and help determine where opportunities, and risks, lie in Mexico's regional healthcare market.
Published Date: Apr 2014
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The Pharmaceutical Market: Mexico
OVERVIEW OF THE PHARMACEUTICAL MARKET IN MEXICO The improving regulatory environment and the increasing foreign direct investment make Mexico's pharmaceutical market more attractive to multinational drugmakers. We project an increase in government healthcare spending to further boost the number of procedures and expand access to medicines in its national health insurance programme. However, the potential deceleration of the country's macroeconomic growth may dampen the country's pharmaceutical market prospects. Generic drug competition and counterfeit medicines are also key concerns for multinationals pharmaceutical companies.  Headline Expenditure Projections Pharmaceuticals: MXN161.45bn (US$12.99bn) in 2011 to MXN175.82bn (US$13.47bn) in 2012; +8.9% in local currency
Published Date: Apr 2014
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The Pharmaceutical Market: Croatia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN CROATIA The Croatian pharmaceutical market continues to pose a challenging environment to domestic and international drugmakers. The economy is expected to contract in 2012 with weak growth returning in 2013 on the anticipation of capital inflows from the EU. The implementation of a clawback tax at the start of the year will increase pricing pressu r es. VAT rises and inflation suggest growth seen in 2012 will not be due to increased drug consumption . We forecast weak growth in pharmaceutical market for the next decade owing to the prevailing economic conditions in Europe. Healthcare and medical devices spending is projected to rise significantly over the next 10 years owing to a rapidly aging population . Even after EU accession next year, we
Published Date: Apr 2014
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The Pharmaceutical Market: Greece
THE PHARMACEUTICAL MARKET: GREECE - REVIEW The immediate threat of a Greek default and eurozone exit was reduced as the outcome of the legislative elections in June had a much more benign outcome than many feared. A n exit would have - and could still be - disastrous for drugmakers operating in the market. But even Greece staying in the monetary union means the government must continue with its austerity programme. While we continue to hold to our view that Germany and the rest of the EU may reduce the focus on austerity and introduce some pro-growth strategies, these are unlikely to generate any upside for the pharmaceutical industry and structural reforms within Greece will be maintained. T he government remains committed to huge cuts in its public drug expenditure for 2012, with a
Published Date: Apr 2014
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The Pharmaceutical Market: Bahrain
Pharmaceuticals & Healthcare Report We expect Bahrain's pharmaceutical market values to grow steadily over the coming years. Key drivers will be volume-based, as the growing population increasingly requires more sophisticated treatments for lifestyle diseases and as healthcare provision expands and modernises . However, w hile some investment has been made into the local pharmaceutical manufacturing industry, imports will continue to supply the bulk of the demand. Headline Expenditure Projections Pharmaceuticals: BHD90mn (US$240mn) in 2011 to BHD100mn (US$260mn) in 2012; +6.12% in both local currency and US dollar terms. Forecastunchanged from Q412. Healthcare: BHD420mn (US$1.1bn) in 2011 to BHD500mn (US$1.2bn); +7.3% in both local currency and US dollar terms. Forecastu
Published Date: Apr 2014
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The Pharmaceutical Market: Cambodia
Cambodia Pharmaceuticals & Healthcare Report Lacklustre efforts by the government to boost healthcare means that the Cambodia will be the least attractive to pharmaceutical investors as compared to its South East Asian peers as the population are unable to afford new treatments. Over the longer term we expect such trends to change and active participation in the Association of Southeast Asia Nations (ASEAN) Economic Community will boost its attractiveness. Headline Expenditure Projections Pharmaceuticals: KHR718bn (US$178mn) in 2011 to KHR806bn (US$193mn) in 2012; +12.2% in local currency terms and +8.8% in US dollar terms. Growthforecast unchanged from Q312, although we have adjusted the absolute value following reassessment of the market size. Healthcare: KHR2,982bn (US
Published Date: Apr 2014
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The Pharmaceutical Market: Sri Lanka
Sri Lanka Pharmaceuticals & Healthcare Report Sri Lanka's negative pharmaceutical trade balance is expected to widen over the next five years. In an attempt to reduce medical costs, the government said in its 2011 budget that pharmaceutical products will be exempt from the port and airport levy, with the changes relating to drugs, medical devices and equipment. Although domestic manufacturing will struggle to compete with cheap medicines from India, we expect local producers to increase capacity considerably over the medium term. Headline Expenditure Projections Pharmaceuticals: LKR50.68bn (US$458mn) in 2011 to LKR59.90bn (US$501mn) in 2012; +18.2% in local currency terms and +9.4% in US dollar terms. Healthcare: LRK250.62bn (US$2.27bn) in 2011 to LKR278.82bn (US$2.34bn)
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The Pharmaceutical Market: Czech Republic
OVERVIEW OF THE PHARMACEUTICAL MARKET IN CZECH REPUBLIC The recent measures proposed by the Czech Republic's Ministry of Health will, in all likelihood, negatively affect the Czech pharmaceutical market. The introduction of reimbursement ceilings, blind bidding auctions and preferential prescribing will squeeze drugmakers' margins and shift some of the burden of healthcare spending onto the private sector. The outcome of similar measures in Hungary and Poland strongly supports our view that the business environment for drugmakers will worsen if these proposals are adopted. It is patients who, ultimately, will suffer. Headline Expenditure Projections Pharmaceuticals: CZK80.71bn (US$4.56bn) in 2011 to CZK79.76bn (US$4.2bn) in 2012; -1.2% in local currency terms and -7.1% in US d
Published Date: Apr 2014
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The Pharmaceutical Market: Denmark
OVERVIEW OF THE PHARMACEUTICAL MARKET IN DENMARK The macroenvironment for the Danish pharmaceutical industry is improving. The centre-left coalition, of the Social Democratic Party, the Socialist People's Party and the Social Liberal Party, took office in October 2011. Denmark suffered a deep recession and economic recovery is stalling with negative GDP growth projected for 2012. Denmark has an ageing population, and the Economist Intelligence Unit projects that the population aged 65 and over will constitute more than one-fifth of the total population by 2016. As a result, healthcare is increasingly focused on preventative care and there will be a continuing demand for new therapies so that patients can be treated more effectively. The increasing pharmaceutical expenditure in Den
Published Date: Apr 2014
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The Pharmaceutical Market: Venezuela
OVERVIEW OF THE PHARMACEUTICAL MARKET IN VENEZUELA We expect the Venezuelan government to continue its foreign currency and import control policies in Q412 and the local market will endure further government restrictions on pharmaceutical and healthcare industry. Multinationals will have the potential revenue-generation opportunities from Venezuela's increasing reliance on imported products to meet local demand, as the election outcome will not fix the production capacity issues in the domestic industry. Headline Expenditure Projections Pharmaceuticals: VEB33.26bn (US$5.46bn) in 2011 to VEB40.77bn (US$6.00bn) in 2012; +22.6% in local currency terms and +10.0% in US dollar terms. Forecasts down due to new industrial information. Healthcare: VEB66.69bn (US$10.94bn) in 2011 to
Published Date: Apr 2014
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The Pharmaceutical Market: Iraq
OVERVIEW OF THE PHARMACEUTICAL MARKET IN IRAQ Years of underinvestment have taken their toll on the Iraqi healthcare market, as have international sanctions and deterioration of healthcare infrastructure due to war. Still an unpopular figure on the international market, Iraq's trade partners are few and far between - although Iraq does have a strong bargaining chip: its oil resources. Healthcare facilities are gradually improving, with plans for new hospitals such as two specialist hospitals planned in partnership with Iran'sRed Crescent organisation. But access to funding is limited, import and exports are restricted, and the country has a severe shortage of trained medical professionals. As such, it is of little surprise that there are few distinctions in the market between OTC an
Published Date: Apr 2014
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The Pharmaceutical Market: Lithuania
THE PHARMACEUTICAL MARKET: LITHUANIA- REVIEW We continue to hold our subdued outlook for the Lithuanian pharmaceuticals market during the next few years, on account of the changing economic and demographic situation. We expect limited low single digit growth in 2012 , with the market expected to increase by a local currency margin of 2.5% year-on-year (y-o-y) to reach LTL1.6 8 bn (US$6 18 mn) in 2012 at consumer prices. However, in US dollar terms, the market ' s value will shrink by 6.3%, in dicating the challenges facing companies operating in the market . Headline Expenditure Projections Pharmaceuticals: LTL1.64bn (US$659mn) in 2011 to LTL1.68bn (US$618mn) in 2012; +2.5% in local currency terms and -6.3% in US dollar terms. Forecastslightly upfrom Q4 12on account of new
Published Date: Apr 2014
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The Pharmaceutical Market: Saudi Arabia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SAUDI ARABIA Saudi Arabia' s transition to an increasingly privatised and comprehensive healthcare system will drive the demand for both patented and generic drugs . The country is investing heavily in healthcare infrastructure and we expect this will be borne out in double-digit growth forecasts across our three headline indicators. Headline Expenditure Projections Pharmaceuticals: SAR16.70bn (US$4.46bn) in 2011 to SAR18.95bn (US$5.06bn) in 2012; +13.5% in local currency and US dollar terms. Forecastbroadly unchanged from Q3 12. Healthcare: SAR78.63bn (US$21.00bn) in 2011 to SAR91.20bn (US$24.35bn) in 2012; +16.0% in local currency and US dollar terms. Forecast broadly unchanged from Q3 12. Medicaldevices: SAR5.54bn (US$1.48bn) in
Published Date: Apr 2014
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The Pharmaceutical Market: Morocco
OVERVIEW OF THE PHARMACEUTICAL MARKET IN MOROCCO Morocco's subsidised health insurance scheme,Régime d'Assistance Médicale (RAMED),launched in March 2012,is experiencing early-stage difficulties with its target to increasehealthcare accessibilityto those on low incomes. This is to be expected, given the evidence of bribery and corruption, and the shortage of doctors in the sector.BMIbelievesthe commitment to improvegovernance and implement controls in the sector will be fulfilled in the medium-to-longterm. As such, we maintainthat government healthcare spending will outpace private healthcare spending over the forecast 2011-2016 period. Headline Expenditure Projections Pharmaceuticals: MAD10.10bn (US$1.25bn) in 2011 to MAD11.24bn (US$1.30bn) in 2012; +11.3% i
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The Pharmaceutical Market: Serbia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SERBIA While the market is small in terms of absolute numbers, relative per capita spending on medicines is expected to improve over the long term. As the country continues its economic convergence with developed Europe, drug consumption is also expected to rise. However, financial inefficiencies within the health insurance system mean that the National Health Insurance Institution ( RZZO ) is unable to always meet its obligations on time, leaving patients to pay for formerly reimbursed medicines or hospitals having to cover the difference . Headline Expenditure Projections Pharmaceuticals: RSD75.70bn (US$1.03bn) in 2011 to RSD81.44bn (US$0.92bn) in 2012; +7.6% in local currency terms and -11.0% in US dollar terms. Healthcare: RSD347.7
Published Date: Apr 2014
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Understanding Myanmars Regional Healthcare Markets
Commercial opportunities in Myanmar's healthcare sector are mainly derived from its large unmet medical needs and underinvestment. However, we maintain that significant improvements are required if Myanmar is to realise its ambitious public health insurance scheme. In addition, political uncertainties from the upcoming election in 2015 may also deter investors over the short term. Decades of military control have meant that the majority of Myanmar's expenditure has gone into military/defence, with less spent on other sectors including health provision. As a result of low government health expenditure, healthcare access in the country is severely lacking. The country's decision to open up its economy in 2012 has attracted strong foreign interest, and saw the entry of a number of compa
Published Date: Mar 2014
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Understanding South Africas Regional Healthcare Markets
With a new National Health Insurance system being implemented, what will the effects be on the under-resourced public sector and the expensive private sector? And what changes can be seen at the varied regional and provincial levels? Any assessment of South Africa must consider the potential variations across Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Limpopo, Mpumalanga, North West, Northern Cape and Western Cape, as well as down to provincial levels. Geographical diversity will impact on medical services and this report answers those key questions that will arise: How is the population distributed? How is healthcare divided? Health funding: How is the Government expenditure vs. private expenditure indicated? What are the long-term macroeconomic forecasts? Which region
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Medical Device Pricing & Reimbursement 2014
Provides insight into medical device pricing and reimbursement systems and latest regulations across 17 key countries! This guide provides everything you could need to know about medical device pricing and reimbursement in 17 established and emerging economies. It examines the increasing role that health technology assessment plays in the reimbursement decision-making process and procurement strategies - both of which have a direct impact on device pricing. Countries covered in this report: Asia/Pacific: Australia, China, Japan and South Korea European Union: Belgium, France, Germany, Italy, The Netherlands, Spain and United Kingdom Latin America: Brazil, Chile, Colombia, Mexico and Peru USAHealth Technology Assessment (HTA) plays a key role in the increasing trend of val
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The Pharmaceutical Market: Moldova
Moldova Pharmaceuticals & Healthcare Report Given the high level of reliance on out-of-pocket payments, the growth of the Moldova's pharmaceutical market is expected to be shaped by the prevailing economic conditions, both at home and abroad, on account of the importance of remittances to the country's GDP. For 2012, we expect the market's value to increase at a local currency rate of 6.7%, although this will translate into negative US dollar growth, on the back of a weak leu . Headline Expenditure Projections Pharmaceuticals: MDL2.47bn (US$211mn) in 2011 to MDL2.64bn (US$204mn) in 2012; +6.7% in local currency terms and -3.0% in US dollar terms. Forecastunchanged from Q4 12. Healthcare: MDL9.06bn (US$773mn) in 2011 to MDL9.64bn (US$747mn) in 2012; +6.4% in local currenc
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The Pharmaceutical Market: Russia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN RUSSIA The Russian pharmaceutical market remains a powerhouse in the Emerging Europe region . The country has by far the larg est population in the region. I ts resource s -driven economic growth is funding both private and public spending on medicines and healthcare services. The country's World Trade Organisation (WTO) accession has eliminated tariff barriers and should, in the long run, drive major improvements in a problematic intellectual property environment. Both domestic and cross-border mergers and acquisitions (M&A) activity has picked up since the 2009 economic crisis, a result of increased incentives for local production under the government's industrial policy for the sector and the need for scale to compete , especially i
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The Pharmaceutical Market: Spain
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SPAIN The sharp drop in public pharmaceutical expenditure in Spain in the first four months of 2012 serves as a warning for the continuation of a fall in spending on medicines in the remainder of the year. BMI notes that this does not bode well for drugmakers selling their products in Spain as the success of the implemented policies may encourage the enforcement of further cost-containment measures, which, together with the ongoing public hospital debt situation, seriously hampers the country's attractiveness as a location in which to sell drugs, despite its favourable demographic characteristics. Headline Expenditure Projections Pharmaceuticals: EUR20.15bn (US$28.00bn) in 2011 to EUR18.34bn (US$23.30bn) in 2012; -9.0% in local curre
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The Pharmaceutical Market: United Kingdom
OVERVIEW OF THE PHARMACEUTICAL MARKET IN UNITED KINGDOM Drugmakers and governments will increasingly enter agreements that provide some form of risk- sharing or price protection for new drugs. Since most European governments, including the UK authorities, are focussing on cost containment in the healthcare sector, alternative pricing schemes for medicines allow for budget control, as well as providing patients with access to highly innovative treatments. Guidance drafted by the National Institute for Health and Clinical Excellence (NICE) has recommended the use of Bristol-Myers Squibb 's Yervoy (ipilimumab) and Roche's Zelboraf ( vemurafenib) for the treatment of advanced skin cancer. These are the first new drugs approved for routine use by the UK's National Health Service for the
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The Pharmaceutical Market: India
OVERVIEW OF THE PHARMACEUTICAL MARKET IN INDIA The outlook for India's patented drug market is not promising. The primary reason why sales of these products will not grow swiftly is the country's intellectual property (IP) regime, which is well below international standards. It does not recognise incremental improvements and as such few medicines receive exclusivity. The outlook is also restricted by the government's apparent desire to spend as little as possible on medical services. Whileprudenceis virtuous in an indebted global economy, India still needs to spend the 'market rate' for healthcare infrastructure, doctors, nurses, medical devices and innovative pharmaceuticals. Without the necessary therapeutics, healthcare rofessionals, hospitals andclinics, India's healthcare i
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The Pharmaceutical Market: Finland
OVERVIEW OF THE PHARMACEUTICAL MARKET IN FINLAND The macroenvironment for the Finnish pharmaceutical industry is improving.Politically, the new six-party coalition is larger and represents a broader spectrum of opinion than is usual, which could make it unstable. However, the Economist Intelligence Unit (EIU) believes that it will last out its four-year term. Economically, recovery from the downturn is stalling due to the euro area debt crisis. Legally, Finland remains on the USTR’s Watch List in 2011 due to concerns over patent protection. Demographically, Finland has one of the largest proportions of population over the age of 65 in Western Europe. Latest projections expect that the population aged 65 and over will constitute more than one-fifth of the total population by 2017
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The Pharmaceutical Market: Belarus
Pharmaceuticals & Healthcare Report We remain largely pessimistic about the Belarus' pharmaceutical market development in the short term at least. While the government remains committed to boosting domestic pharmaceutical output over the coming years, with authorities in manufacturing joint venture (JV) discussions with a number of countries, the devalued rouble, high inflation and weak household consumption will continue to constrain both volume and value of medicines consumed in the country. We also note increased political and also economic risks, as the country aligns itself away from the European Union (EU). Headline Expenditure Projections: Pharmaceuticals: BYR3,598bn in 2011 (US$692mn) to BYR5,623bn (US$686mn) in 2012; +56.3% in local currency terms and -1.0% in
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The Pharmaceutical Market: Israel
THE PHARMACEUTICAL MARKET: ISRAEL- REVIEW Although Israel claims its very efficient healthcare system means it does not need to spend as much of its GDP on provision (some 7.6% was spent on this purpose in 2011), in reality the government's fiscal austerity and sick funds traditionally keep the most expensive innovative drugs and treatments unavailable. Additionally, as healthcare providers are prohibited from taking on debt, the shortage means that cheaper generics and low staff salaries have to be used to control overall costs, which often comes at the expense of services provided to patients. However, the recent ruling means that the state must increase payments to healthcare providers in order to account for rising costs, which provide some upside risks to healthcare forecasts.&n
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The Pharmaceutical Market: Switzerland
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SWITZERLAND While the patent cliff and the consequent availability of generic drugs, as well as price cuts on generic medicines and their increasing affordability, will work towards increasing the consumption of generic medicines in Switzerland, BMI believes the government needs to do more to alter patients' attitudes towards these drugs as this the main deterrent of growth. Headline Expenditure Projections Pharmaceuticals: CHF6.77bn (US$7.63bn) in 2011 to CHF6.58bn (US$7.00bn) in 2012; -2.8% decline in local currency terms and -8.2% in US dollar terms. Healthcare: CHF65.30bn (US$73.6bn) in 2011 to CHF67.42bn (US$71.72bn) in 2012; +3.2% growth in local currency terms and -2.6% in US dollar terms. Medical devices: CHF4.77bn (US$5.38
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The Pharmaceutical Market: Brazil
OVERVIEW OF THE PHARMACEUTICAL MARKET IN BRAZIL The Brazilian pharmaceutical market remains our favourite regional market in Latin America due to its large market size and strong domestic demand for innovative, high-tech products. The government i s increasing ly invest ing in the healthcare sector and pharmaceutical industry to reduce the financial burden of diseases , and the country's private healthcare sectors provide opportunities for foreign companies. However, the increasing d rug rebate level has significantly undermined the profits recorded by generic drugmakers. The more aggressive government techonology transfer deals with multinationals as well as the drug approval delays due to bureaucracy and staff shortages at ANVISA have also dampened multinationals' revenue-generati
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Kuwait
Kuwait Pharmaceuticals & Healthcare Report Kuwait's small population, and the fact that many residents are expatriates means that the country's healthcare market is closely linked to that of neighbouring Arab nations. Private healthcare accounts for around a fifth of total spending, and the government funds treatment for many nationals abroad. As Kuwait's population expands, grows older, and the incidence of non-communicable diseases such as diabetes and obesity increases, the government is coming under increasing pressure to improve its domestic facilities. In 2010 it embarked on a US$108bn project to add 3,500 beds to hospitals and boost healthcare facilities; once completed, the government estimates it will need an additional 15,000 healthcare professionals in the country.
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Malaysia
OVERVIEW OF THE PHARMACEUTICAL MARKET IN MALAYSIA Malaysia ' s healthcare sector is showing strong signs of growth, with increased internal and investment in pharmaceutical manufacturing facilities in a move to boost exports. Key growth areas include biotechnology; namely drug discovery, new product development , technology acquisition and licensing ; generic drug production; and the recent release of h alal pharmaceutical guidelines mean s Malaysia has the potential to take a le ading role in the fast-growing h alal pharmaceutical market. While concerns remain regarding intellectual property - Malaysia has presented objections to elements in the Trans-Pacific Partnership Agreement - it is making progress in terms of trade relations: the government began negotiations over the creatio
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Portugal
OVERVIEW OF THE PHARMACEUTICAL MARKET IN PORTUGAL Portugal 's pharmaceutical and healthcare sector has been transformed since the intervention of the EU, IMF and ECB as part of the country's EUR78bn economic rescue package approved in May 2011 . The latest review states that Portugal has already made considerable savings in the healthcare sectors, with changes such as the introduction of e-prescriptions and prescribing by active ingredients, changes to reference pricing, reductions in pharmacy margins and price cuts just some of the measures in place. The impact on the market has been widespread. Spending has been slashed and both domestic and multinational pharmaceutical firms have seen their profits shr i nk. Data recently published by Infarmed show that Portugal has dropped from
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Egypt
OVERVIEW OF THE PHARMACEUTICAL MARKET IN EGYPT As anticipated by BMI, Egyptian President Mohammad Morsi's relative success in his first100days in officehighlights a degree of political and economic stability,which we believehas resulted in a final resolution of the medicines pricing system. We highlight that our expectation of the government imposing pharmaceutical price caps and adopting a controlled, low-pricing strategy has played out. The new pricing systemsets theprices of medicines higher than the old cost-plus system and BMImaintains this will be good for multinational companies in the mediumterm. However, the dangers of a possible downward pricing spiral, due to the interdependence of countries in the reference pricing basket, is along-term risk to multinationals'revenues.
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Iran
OVERVIEW OF THE PHARMACEUTICAL MARKET IN IRAN We caution that our forecasts for the Iranian pharmaceutical market are at considerable risk due to runaway inflation and political risks. We also point out that the official exchange rate does not follow the trends in the black market, which further distorts market valuations. While our local currency forecast for the market's development is broadly in line with the previous quarter's figure, the value in US dollar terms will be considerably impacted by rising inflation, caused by the sanction induced currency crisis. At the same time, we expect that the volume of pharmaceutical sales in the country will continue to be negatively impacted by the prevailing economic and political conditions. These have already resulted in shortages of c
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Peru
OVERVIEW OF THE PHARMACEUTICAL MARKET IN PERU We have recently revised downwards our 2012 pharmaceutical sales growth for Peru, due to the recent price cuts in the prescription drug sector, which accounts for over 74% of total pharmaceutical sales. Still, our projected compound annual growth rate (CAGR) between 2011 and 2016 remains largely unchanged as BMI believes Peru still offers considerable longer-term benefits to local and foreign pharmaceutical companies because of the country's ageing population, increasing disease burden and the expected change in drug consumption patterns. Headline Expenditure Projections Pharmaceuticals: PEN3.90bn (US$1.42bn) in 2011 to PEN4.11bn (US$1.57bn) in 2012; +5.3% in local currency terms and +10.4% in US dollar terms. Forecast revised d
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: France
OVERVIEW OF THE PHARMACEUTICAL MARKET IN FRANCE France\'s high public debt-to-GDP ratio will necessitate more aggressive fiscal tightening by the state. This includestargeting the pharmaceuticals and healthcare sector, whichcurrentlyreceivesa large proportion of public funds. Headline Expenditure Projections Pharmaceuticals: EUR35.01bn (US$48.66bn) in 2011 to EUR34.17bn (US$43.39bn) in 2012. -2.4% in local currency terms and -10.8% in US dollar terms. Local currency forecast broadly unchanged from Q3 12. Healthcare: EUR234.30bn (US$325.68bn) in 2011 to EUR239.29bn (US$303.89bn) in 2012; +2.1% in local currency terms and -6.7% in US dollar terms. Local currency forecastslightly lower from Q312on account of worsening macroeconomic environment. Medical devices: EUR10.72bn
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Belgium
OVERVIEW OF THE PHARMACEUTICAL MARKET IN BELGIUM We remain less than optimistic about the short- term growth of the Belgian pharmaceutical market. Through to 2016, the market's value is expected to post a negative compound annual growth rate (CAGR) of -1% in both local currency and US dollar terms, largely on account of cost containment measures and patent expirations. Nevertheless, foreign companies are expected to continue using Belgian pr oduction sites for exports, the country also being a popular re-export source. Headline Expenditure Projections Pharmaceuticals: EUR6.12bn (US$8.51bn) in 2011 to EUR5.96bn (US$7.57bn) in 2012; -2.6% in local currency terms and -11.0% in US dollar terms. Local currency forecast broadly unchanged from Q412. Healthcare: EUR38.96bn (US$54.
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Philippines
THE PHARMACEUTICAL MARKET: PHILIPPINES - REVIEW The Philippine economy expanded by an impressive 5.9% year-on-year in Q2 12 due to strong growth from various sectors, such as services and exports. Consequently, we have upgraded the pharmaceutical market forecast. We continue to hold our view that pharmaceutical firms will see short-term opportunities in the Philippines due to ineffective governance of the prices of drugs. Headline Expenditure Projections Pharmaceuticals: PHP126.04bn (US$2.91bn) in total sales in 2011, rising to PHP129.96bn (US$2.89bn) in 2012; +3.1% in local currency terms and +3.3% in US dollar terms. Forecastup slightlyfrom Q412due to improved macroeconomic outlook. Healthcare: PHP364.95bn (US$8.43bn) in sales in 2011 rising to PHP408.26bn (US$9.45bn) in
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Uganda
OVERVIEW OF THE PHARMACEUTICAL MARKET IN UGANDA While geographic diversification and investment into the pharmaceutical and healthcare sector of emerging economies such as Uganda may be a favourable strategy for any multinational pharmaceutical company - it is vital that a company recognises both the rewards and the risks present in a market. With regards to assessing risks in the Ugandan healthcare sector, we have identified industry specific dangers (such as low per-capita spending and poor access to healthcare facilities) and those emanating from the state's political/economic profile (such as high inflation) that call into question the likelihood of anticipated returns being realised over the assessed time period. Headline Expenditure Projections Pharmaceuticals: UGX676bn (
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Ukraine
OVERVIEW OF THE PHARMACEUTICAL MARKET IN UKRAINE Foreign and domestic drugmakers in Ukraine will see their operating margins squeezed from2013as the Ministry of Health introduces more severe limitson mark-ups. Combined with the likely devaluation of the hryvnia, these factors represent a very large business risk for international drugmakers operating in the country. While Ukraine remains one of Central and Eastern Europe (CEE)'s more promising pharmaceutical markets given its favourable demographics and disease profile, its chronic lack of economic and political stability remains a critical impediment to fulfilling this potential. Headline Expenditure Projections Pharmaceuticals: UAH26.75bn (US$3.35bn) in 2011 to UAH30.79bn (US$3.75bn) in 2012; +15.1% in local currency term
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Zimbabwe
Zimbabwe Pharmaceuticals & Healthcare Report Regardless of the outcome of the upcoming general elections, scheduled for November 2012, we remain pessimistic about the short - to medium - term development of Zimbabwe's pharmaceutical market. While the need for medicines is vast, the majority of demand continues to be met through foreign donations, indicating the dire situation in the country. At the same time, the domestic industry continues to struggle, without much hope for government finances or credit extensions, which will continue to exacerbate the already massive problems with regard to access to medicines. Headline Expenditure Projections Pharmaceuticals: US$160mn in 2011 to US$180mn in 2012; +12.7% in US dollar terms. Forecast in line with Q3 12. Healthcare US$
Published Date: Mar 2014
Published By: Espicom

Price: $1295
The Pharmaceutical Market: Singapore
OVERVIEW OF THE PHARMACEUTICAL MARKET IN SINGAPORE Singapore will be of moderate attractiveness to investors given its small pharmaceutical market size, despite the growing demands for more pharmaceuticals and healthcare from its increasingly ageing population. However, the city-state will continue to attract companies looking to set up regional offices, manufacturing hubs or research and development facilities in the country given its strong regulatory framework and relatively stable political and economic environment. Headline Expenditure Projections Pharmaceuticals: SGD901mn (US$716mn) in 2011 to SGD942mn (US$751mn) in 2012; +4.5% in local currency terms and +4.9% in US dollar terms. Forecast broadly in line with previous quarter. Healthcare: SGD13.1bn (US$10.4bn) in 201
Published Date: Mar 2014
Published By: Espicom

Price: $1295
Understanding Vietnams Regional Health Markets
With the implementation of a universal healthcare system on the horizon, Vietnam’s health infrastructure is looking up – but what affect will this have on the current infrastructure? And what changes can be seen at the varied regional and provincial levels? A forensic analysis with statistics on national and regional health infrastructure and provision. An essential source of highly detailed business data With the implementation of a universal healthcare system on the horizon, Vietnam’s health infrastructure is looking up – but what affect will this have on the current infrastructure? And what changes can be seen at the varied regional and provincial levels? Any assessment of Vietnam must consider the potential variations across Central Highlands, Mekong De
Published Date: Feb 2014
Published By: Espicom

Price: $935
Advances in the Rheumatoid Arthritis Market
Rheumatoid arthritis (RA) is a chronic disorder for which there is currently no cure. It affects around 23.5 million adults in the world (WHO, 2013) and approximately 294,000 children under the age of 18 are affected by pediatric arthritis and other rheumatologic conditions (PhRMA, 2013). In 2012, immunology drugs generated global sales of around US$36.6bn of which two thirds were associated with the management rheumatology related conditions (US$24.5bn), the remainder of sales were split evenly between the treatment of dermatological and gastroenterology related conditions. Revenues growth has been driven by improvements in diagnosis and early, more aggressive treatment of RA, the approval of new disease modifying anti rheumatic drugs (DMARDs), new formulations/devices and line extensi
Published Date: Jan 2014
Published By: Espicom

Price: $1295
Generic Drugs: Global collaboration opportunities
Collaboration is the key to growth With the recent economic turmoil affecting many markets around the world, the generic and branded sectors face similar problems. At one time the generic sector was seen as a valuable way to bring effective products to a wider audience. This, allied to the rising cost of new advanced branded products, led to rapid expansion of the generics sector. Even markets traditionally based in the provision of branded medicines have made moves to increase generic prescribing. But pressure on health spending is seeing downward pressure on generic prices. With lower margins this is creating pain for generics companies. SME Generic companies offer focused opportunities With established markets compromised, where can the industry go? Expansion in t
Published Date: Jan 2014
Published By: Espicom

Price: $1250
Trends and Opportunities in the Diabetes Care Market
This report provides everything you need to know about the current market for diabetes care devices; from detailed analysis of the products, companies and developments influencing its growth to an in-depth manufacturer directory detailing company movements within the market and key financial data (where available). The global market for diabetes devices was estimated to be worth US$ 12.2 billion in 2012. And although this market was in decline due to intense competition and low reimbursement levels, as well as being traditionally dominated by 6 major manufacturers, good opportunities are growing more apparent for companies with unique diabetes devices or that compete in yet to be established markets. In geographical terms, the US market dominates this sector, with Europe and other
Published Date: Jan 2014
Published By: Espicom

Price: $1545
Advanced in the Rheumatoid Arthritis Market
Rheumatoid arthritis (RA) is a chronic disorder for which there is currently no cure. It affects around 23.5 million adults in the world (WHO, 2013) and approximately 294,000 children under the age of 18 are affected by pediatric arthritis and other rheumatologic conditions (PhRMA, 2013). In 2012, immunology drugs generated global sales of around US$36.6bn of which two thirds were associated with the management rheumatology related conditions (US$24.5bn), the remainder of sales were split evenly between the treatment of dermatological and gastroenterology related conditions. Revenues growth has been driven by improvements in diagnosis and early, more aggressive treatment of RA, the approval of new disease modifying anti rheumatic drugs (DMARDs), new formulations/devices and line ext
Published Date: Jan 2014
Published By: Espicom

Price: $1545
Telecare: Healthcare For The Next Generation
Telecare: Healthcare For The Next Generation Growth in the number of mobile phone users and wireless subscribers, and advances in the innovative application of communication technology to address health priorities have the potential to transform the delivery of healthcare across the world. This provides significant opportunities for companies looking to invest in the telecare sector. Espicom/BMI defines telecare as the use of mobile and internet technology to provide clinical care and non-clinical services, such as health education, disease surveillance and drug monitoring. It is our view that a combination of factors - including the continued growth in demand for and delivery of healthcare, the sustained growth in mobile and broadband subscribers and penetration rates and the g
Published Date: Dec 2013
Published By: Espicom

Price: $995