Greece Pharmaceuticals & Healthcare Report

Providing expert analysis, independent forecasts and competitive intelligence on the pharmaceuticals and healthcare industry.

Report includes: BMI Industry View, Industry SWOT Analysis, Industry Forecasts, BMI's Pharmaceuticals and Healthcare Risk Reward Index, Market Summary, Economic Forecasts, Company Profiles and Competitive Landscape.

Why you should buy this report

  • Benefit from the latest market opportunities
  • Understand the threats to your operations and investments and protect your company against future risks
  • Gain insight on emerging trends that could support, strengthen or disrupt your activities in the market
  • Get a full view of the competitive landscape to assess your market position
×

Sign up to download the Greece Pharmaceuticals & Healthcare Report

By submitting this form you are acknowledging that you have read and understood our Privacy Policy.

Thank you for your interest

You will shortly receive your free executive summary by email.

Greece Pharmaceuticals & Healthcare Report
Product Price
$1,295.00

BMI View: A poor record of implementing new legislation and the enduring public scepticism of generic medicines indicate that the country's push to increase the prescription of generic medicines to 60% by December 2016 will fail to produce the desired generic medicine uptake in the face of austerity. The government's focus on increasing the consumption of generic medicines alongside persistent debt problems within the health system highlights Greece as a challenging market for innovative drugmakers.

Headline Expenditure Projections

  • Pharmaceuticals: EUR4.95bn (USD5.44bn) in 2015 to EUR4.67bn (USD5.00bn) in 2015, -5.5% in local currency terms and -8.1% in US dollar terms. Forecast revised upwards from Q415 due to improved macroeconomic outlook .

  • Healthcare: EUR15.38bn (USD16.92bn) in 2015 to EUR15.22bn (USD16.29bn) in 2016, -1.0% in local currency terms and -3.7% in US dollar terms. Forecast unchanged from Q415.

Headline Pharmaceuticals & Healthcare Forecasts (Greece 2014-2020)
2014 2015e 2016f 2017f 2018f 2019f 2020f
e/f = BMI estimate/forecast. Source: WHO, National Sources, BMI
Pharmaceutical sales, USDbn 6.640 5.440 4.998 5.213 5.545 5.906 6.050
Pharmaceutical sales, % of GDP 2.79 2.86 2.68 2.64 2.62 2.59 2.58
Pharmaceutical sales, % of health expenditure 30.6 32.2 30.7 30.8 30.9 31.1 31.2
Health spending, USDbn 21.665 16.916 16.286 16.926 17.928 19.001 19.361

Risk/Reward Index

In BMI's Q216 Pharmaceutical Risk/Reward Index (RRIs) Greece is ranked fourth out of the 20 markets in the Central and Eastern European (CEE) matrix with an improved score of 59.0 compared with the previous quarter (55.8). Greece continues to experience a high level of financial and political uncertainty, as the new government faces mounting pressure to balance the increasingly urgent demands of both its international creditors and the Greek electorate. However, the risk of a eurozone exit has receded for the time being, resulting in an improved assessment of the country's Rewards rating within the RRI.

Latest Updates

  • The State Budget for 2016 outlined an initiative to promote of the use of generic medicines: up to 50% by December 2015 and to 60% by December 2016. This is a revision of a previous target of 40%, set only in November 2015.

  • In January 2016, it was reported that the debts owed by the Greek national health insurer to pharmaceutical companies has almost doubled since 2014, from EUR790mn to in excess of EUR1.3bn.

BMI Economic View

Economic activity will remain well below the level needed for Greece to return to anywhere close to its potential output. A lack of sustainable growth drivers, fiscal deficit reduction and rising political risk will keep Greece anchored to a painfully sluggish economic growth trajectory over the coming years.

BMI Political View

Support for the ruling Syriza-led coalition will decline in 2016, as the government implements painful bailout conditions and struggles to cope with migrant arrivals, and as disaffected voters return to New Democracy.

BMI Industry View
7
Table: Headline Pharmaceuticals & Healthcare Forecasts (Greece 2013-2019)
7
SWOT
9
Industry Forecast
11
Pharmaceutical Market Forecast
11
Table: Pharmaceutical Sales, Historical Data And Forecasts (Greece 2011-2019)
12
Healthcare Market Forecast
13
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2011-2019)
15
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2011-2019)
15
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2011-2019)
15
Prescription Drug Market Forecast
16
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
17
Patented Drug Market Forecast
18
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
19
Generic Drug Market Forecast
20
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
21
OTC Drug Market Forecast
22
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
24
Pharmaceutical Trade Forecast
25
Table: Pharmaceutical Trade Data And Forecasts (Greece 2013-2019)
27
Table: Pharmaceutical Trade Data And Forecasts local currency (Greece 2013-2019)
27
Industry Risk Reward Index
28
Central And Eastern Europe Risk/Reward Index - Q1 2016
28
Greece Risk/Reward Index
35
Rewards
35
Risks
36
Regulatory Review
37
Intellectual Property Regime
38
Pricing Regime
39
Reimbursement Regime
41
Market Overview
44
Healthcare Sector
44
Table: Healthcare Resources (Greece 2009-2014)
50
Table: Healthcare Personnel (Greece 2009-2014)
50
Table: Healthcare Activity (Greece 2009-2014)
51
Healthcare Insurance
51
Research and Development
52
Clinical Trials
53
Epidemiology
53
Competitive Landscape
56
Table: Multinational Market Activity
57
Pharmaceutical Retail Sector
58
Company Profile
59
Alapis Pharma
59
Elpen
61
Genesis Pharma
63
Kleva
65
Lavipharm
66
Pharmathen
68
Vianex
70
Demographic Data
72
Demographic Forecast
72
Table: Population Headline Indicators (Greece 1990-2025)
73
Table: Key Population Ratios (Greece 1990-2025)
73
Table: Urban/Rural Population & Life Expectancy (Greece 1990-2025)
74
Table: Population By Age Group (Greece 1990-2025)
74
Table: Population By Age Group % (Greece 1990-2025)
75
Glossary
77
Methodology
79
Pharmaceutical Expenditure Forecast Model
79
Healthcare Expenditure Forecast Model
79
Notes On Methodology
80
Risk/Reward Index Methodology
81
Index Overview
82
Table: Pharmaceutical Risk/Reward Index Indicators
82
Indicator Weightings
83

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

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market forecasts for Greece, to test other views - a key input for successful budgeting and strategic business planning in the Greek pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Greek pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Greece.
  • Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

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.

Market Summary

A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape

Industry Developments

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.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.

Competitive Landscape

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.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.