Greece Pharmaceuticals & Healthcare Report

Published 29 June 2015

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

BMI View: While Greece will, despite significant political brinksmanship linked to members of the ruling party Syriza, reach a deal with its creditors and avoid a Eurozone exit, the political and economic uncertainty of the interim will continue to hamper the modernisation of the health sector and the expansion of pharmaceutical spending and public access to health services. Greece will continue to lose attractiveness as a market for drugmakers as already high and rising operating costs are exacerbated by repayment issues that have led many firms to threaten ing to cut off the supply of treatments.

Headline Expenditure Projections

  • Pharmaceuticals: EUR4.96bn (USD6.64bn) in 2014 to EUR4.85bn (USD5.34bn) in 2015 -2.1% in local currency terms and -19.6% in US dollar terms. Forecast unchanged from Q 2 15 .

  • Healthcare: EUR16.17bn (USD21.66bn) in 2014 to EUR15.38bn (USD16.92bn) in 2015 -4.9% in local currency terms and -21.9 in US dollar terms. Forecast down from Q 2 15 .

Risk/Reward Index

In BMI's Q315 Pharmaceutical Risk/Reward Index (RRIs) Greece falls to fifth place out of the 20 markets in the Central and Eastern European (CEE) matrix with a RRI score of 55 out of 100; down from fourth place and a score of 56.2 in Q215. The Greek pharmaceutical market has been characterised of late by mandated price reductions, state intervention in the trade of pharmaceutical goods, regressive revenue taxes, unpaid debts and drug shortages. Moreover, the government has increasingly shifted some of the burden of healthcare spending onto its citizens, requiring increasing co-payments for expensive drugs.

Key Trends a nd Developments

  • In June 2015 International pharmaceutical firms faced a dilemma of whether or not to cut off supplies of life-saving medicines to Greece, as the cash-strapped nation owed more than EUR1.2bn (USD1.3bn) in debts to drugmakers. European Federation of Pharmaceutical Industries and Associations members have not received money owed to...

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Operational Risk
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Pharmaceutical Sales, Historical Data And Forecasts (Greece 2011-2019)
16
Healthcare Market Forecast
16
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2011-2019)
18
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2011-2019)
18
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Greece 2011-2019)
18
Prescription Drug Market Forecast
19
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
20
Patented Drug Market Forecast
21
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
22
Generic Drug Market Forecast
23
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
24
OTC Medicine Market Forecast
24
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Greece 2011-2019)
26
Pharmaceutical Trade Forecast
27
Table: Pharmaceutical Trade Data And Forecasts (Greece 2013-2019)
29
Table: Pharmaceutical Trade Data And Forecasts local currency (Greece 2013-2019)
29
Key Risks To BMI's Forecast Scenario
29
Macroeconomic Forecasts
31
Economic Analysis
31
Table: Economic Activity (Greece 2010-2019)
38
Industry Risk Reward Indices
39
Central And Eastern Europe Risk/Reward Index
39
Greece Risk/Reward Index
45
Rewards
45
Risks
46
Market Overview
47
Industry Trends And Developments
48
Epidemiology
48
Healthcare Sector
50
Healthcare Sector Developments
53
Table: Healthcare Resources (Greece 2009-2014)
55
Table: Healthcare Personnel (Greece 2009-2014)
55
Table: Healthcare Activity (Greece 2009-2014)
56
Healthcare Insurance
56
Research and Development
57
Clinical Trials
58
Regulatory Development
60
Regulatory Developments
60
Regulatory Regime
60
Intellectual Property Regime
61
Pricing Regime
62
Reimbursement Regime
64
Competitive Landscape
67
Pharmaceutical Retail Sector
68
Company Profile
70
Pfizer
70
Sanofi
72
Novartis
74
GlaxoSmithKline
76
Merck Sharp & Dohme
78
Alapis Pharma
80
Elpen
82
Genesis Pharma
84
Kleva
86
Lavipharm
87
Pharmathen
89
Vianex
91
Abbott Laboratories
93
Demographic Data
95
Demographic Forecast
95
Table: Population Headline Indicators (Greece 1990-2025)
96
Table: Key Population Ratios (Greece 1990-2025)
96
Table: Urban/Rural Population & Life Expectancy (Greece 1990-2025)
97
Table: Population By Age Group (Greece 1990-2025)
97
Table: Population By Age Group % (Greece 1990-2025)
98
Glossary
100
Methodology
102
Pharmaceutical Expenditure Forecast Model
102
Healthcare Expenditure Forecast Model
102
Notes On Methodology
103
Risk/Reward Index Methodology
104
Index Overview
105
Table: Pharmaceutical Risk/Reward Index Indicators
105
Indicator Weightings
106

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.

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