BMI View: Innovative drugmaker revenues will remain under threat in Finland. The Finnish government is committed to containing rising healthcare costs and despite company concerns regarding falling drug prices, we believe the success of the annual decline in reimbursed medicine prices will result in the government maintaining the generic reference pricing system that is in place. Amplifying price pressures on patented medicines are the unsystematic price cuts on medicines, which are more disruptive to drugmaker revenue streams in Finland.
Headline Expenditure Projections
Pharmaceuticals: EUR2.85bn (USD3.82bn) in 2014 to EUR2.93bn (USD3.23bn) in 2015;+3.0% in local currency terms and -15.4% in US dollar terms. Forecast revised downwards from last quarter .
Healthcare: EUR18.88bn (USD25.30bn) in 2014 to EUR19.63bn (USD21.59bn) in 2015; +4% in local currency terms and -14.7% in US dollar terms. Forecast unchanged from last quarter.
Finland's Risk/Reward Index score is unchanged from last quarter at 68.8 out of 100. This places the country sixth in our rankings in terms of attractiveness to investors, just above Denmark (68.1) and Belgium (68.0). Finland's strong emphasis on the regulatory environment is an appealing feature of the market, although a major factor affecting the business environment for drugmakers is its small overall market size.
Key Trends And Developments
Biotie Therapies has reported the start of the Phase III study of tozadenant (SYN115), an investigational adenosine A2a receptor antagonist, in patients with Parkinson's disease (PD) experiencing levodopa related end-of-dose 'wearing-off'. Based on current estimates, top-line data from the double-blind portion of the study are expected to be available by the end of 2017.
Pharma Industry Finland (PIF) have found that the EUR150mn cut in medicine reimbursements will be consistent. The government is seeking to improve growth in the health sector and develop...
The Finland Pharmaceuticals & Healthcare Report features BMI Research'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 Finland Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Finland pharmaceutical and healthcare industry.
- Benchmark BMI's pharmaceutical and healthcare market forecasts for Finland, to test other views - a key input for successful budgeting and strategic business planning in the Finnish pharmaceutical and healthcare market.
- Target business opportunities and risks in the Finnish pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Finland.
- Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.
BMI Industry View
An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.
BMI Industry Forecast Scenario
Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
- Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
- Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
- Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
- Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
- OTC Drug Market: OTC sales (USDbn & % of total sales).
- Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.
BMI’s Pharmaceuticals and Healthcare Risk Reward Index
BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.
A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.
The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.