Hungary 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.

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Hungary Pharmaceuticals & Healthcare Report
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BMI View: Hungary's pharmaceutical market represents a moderate but reliable commercial prospect within Central and Eastern Europe. The government plays a key role in the provision of medical services as demonstrated by its recent ban on parallel exports of medicines and the decentrali s ation of primary care. We nevertheless expect the private sector to become more involved over the medium term.

Headline Expenditure Projections

  • Pharmaceuticals: HUF648.10bn (USD2.79bn) in 2014 to HUF660.80bn (USD2.36bn) in 2015; +2.0% in local currency terms and -15.3% in US dollar terms.

  • Healthcare: HUF2.38trn (USD10.22bn) in 2014 to HUF2.42trn (USD8.65bn) in 2015; +1.9% in local currency terms and -15.3% in US dollar terms.

Headline Pharmaceuticals & Healthcare Forecasts (Hungary 2013-2019)
2013 2014 2015f 2016f 2017f 2018f 2019f
f = BMI forecast. Source: WHO, National Sources, BMI
Pharmaceutical sales, USDbn 2.878 2.785 2.360 2.398 2.598 2.855 3.136
Pharmaceutical sales, % of GDP 2.16 2.03 2.04 2.01 1.96 1.91 1.86
Pharmaceutical sales, % of health expenditure 27.5 27.3 27.3 27.3 27.2 27.3 27.3
Health spending, USDbn 10.466 10.217 8.653 8.800 9.540 10.472 11.485

Risk/Reward Index

Hungary currently ranks sixth (down from the fourth position in the previous quarter) out of the 20 regional markets profiled in the Central and Eastern Europe (CEE) region, with a score of 54.8. While its Risks profile is generally predictable. Concerns exist over respect for intellectual property protection and market barriers, with the country included in the Pharmaceutical Research and Manufacturers of America (PhRMA)'s special 301 submission for the fifth consecutive year in 2015. Hungary's Rewards score, however, has improved considerably due to favourable currency effects and our improving outlook for the country's pharmaceutical market.

Latest Updates

  • Gedeon Richter surprised investors and market observers with significantly better-than-expected results for H115. In H115, Gedeon's total revenues grew by 5.3% y-o-y in HUF terms to HUF183.95bn (USD654mn) highlighting the recovery in revenues and rebounding after the decline earlier in H214.

  • In August, Gedeon Richter signed a licence and distribution deal with Germany's Stada Arzneimittel to sell Richter's biosimilar product pegfilgrastim in Europe. Under the terms of the agreement, Stada will get non-exclusive distribution rights for pegfilgrastim for Europe (excluding Russia), while Richter will retain its right to distribute and market the product worldwide.

  • In September, Allergan and Gedeon Richter reported that the FDA has approved Vraylar (cariprazine) capsules, an atypical antipsychotic, for the acute treatment of manic or mixed episodes associated with bipolar I disorder and for treatment of schizophrenia in adults.

BMI Economic View

Hungary's current account surplus will reach a record high of 6.3% of GDP in 2015, remaining the largest among emerging European peers in the coming years even as it gradually narrows. Strong external buffers will support international reserve accumulation and facilitate external deleveraging, supporting Hungary's sovereign profile.

BMI Political View

An aggressive stance against accepting migrants will play well supporters of the ruling Fidesz party, and help win back voters from the surging far-right Jobbik. However, it risks doing serious damage to Hungary's standing in the EU and, if structural funding is cut off, the economic outlook too.

BMI Industry View
Table: Headline Pharmaceuticals & Healthcare Forecasts (Hungary 2013-2019)
Industry Forecast
Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, Historical Data And Forecasts (Hungary 2011-2019)
Healthcare Market Forecast
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Hungary 2011-2019)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Hungary 2011-2019)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Hungary 2011-2019)
Prescription Drug Market Forecast
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Hungary 2011-2019)
Patented Drug Market Forecast
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Hungary 2011-2019)
Generic Drug Market Forecast
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Hungary 2011-2019)
OTC Medicine Market Forecast
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Hungary 2011-2019)
Pharmaceutical Trade Forecast
Table: Pharmaceutical Trade Data And Forecasts (Hungary 2013-2019)
Table: Pharmaceutical Trade Data And Forecasts local currency (Hungary 2013-2019)
Industry Risk Reward Index
Central And Eastern Europe Risk/Reward Index - Q1 2016
Hungary Risk/Reward Index
Regulatory Review
Intellectual Property Issues
Pricing Regime
Table: OEP Reimbursement Changes, September 2014
Reimbursement Regime
Market Overview
Healthcare System
Table: Healthcare Resources (Hungary 2009-2014)
Table: Healthcare Personnel (Hungary 2009-2014)
Table: Healthcare Activity (Hungary 2009-2014)
Healthcare Funding
Research & Development
Clinical Trials
Competitive Landscape
Research Based Industry
Table: Multinational Market Activity
Generic Drugmakers
Pharmaceutical Distribution
Pharmaceutical Retail Sector
Company Profile
Egis Pharmaceuticals (Servier)
Gedeon Richter
Demographic Forecast
Table: Population Headline Indicators (Hungary 1990-2025)
Table: Key Population Ratios (Hungary 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Hungary 1990-2025)
Table: Population By Age Group (Hungary 1990-2025)
Table: Population By Age Group % (Hungary 1990-2025)
Pharmaceutical Expenditure Forecast Model
Healthcare Expenditure Forecast Model
Notes On Methodology
Risk/Reward Index Methodology
Index Overview
Table: Pharmaceutical Risk/Reward Index Indicators
Indicator Weightings

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

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market forecasts for Hungary, to test other views - a key input for successful budgeting and strategic business planning in the Hungarian pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Hungarian pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Hungary.
  • 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.

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.