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 pharmaceuticals and healthcare market will remain a limited prospect for investment due to the systemic underfunding of the healthcare sector. While improvements to healthcare provision and accessibility are likely to increase demand for medicines, the country's revenue earning opportunities remain modest in comparison to neighbouring markets.

Headline Expenditure Projections

  • Pharmaceuticals: HUF660.8bn (USD2.4bn) in 2015 to HUF667.6bn (USD2.3bn) in 2016; +1.0% in local currency terms and -2.3% in US dollar terms. Forecast in local currency terms revised slightly downwards from last quarter.

  • Healthcare: HUF2.5trn (USD9.0bn) in 2015 to HUF2.6trn (USD9.1bn) in 2016; +5.0% in local currency terms and 1.6% in US dollar terms. Forecast revised upwards from last quarter.

Headline Pharmaceuticals & Healthcare Forecasts (Hungary 2014-2020)
2014 2015 2016f 2017f 2018f 2019f 2020f
f = BMI forecast. Source: WHO, National Sources, BMI
Pharmaceutical sales, USDbn 2.780 2.370 2.310 2.450 2.690 2.940 3.040
Pharmaceutical sales, % of GDP 2.01 1.96 1.95 1.89 1.84 1.79 1.76
Pharmaceutical sales, % of health expenditure 27.2 26.4 25.4 24.6 24.1 23.6 23.3
Health spending, USDbn 10.230 8.960 9.100 9.980 11.180 12.440 13.040

Risk/Reward Index

Hungary currently ranks fourth (down from the third position in the previous quarter) out of the 20 regional markets profiled in the Central and Eastern Europe (CEE) region, with a score of 57.9. While its Risks profile is generally predictable, Hungary's Rewards score has improved considerably due to favourable currency effects and our improving outlook for the country's pharmaceutical market.

Latest Updates

  • In March 2016, Gedeon Richter announced an investment of HUF15bn (USD5.4mn) in a project to expand its biotechnology plant in Debrecen. The plant was founded in 2012 and the expansion will allow for the firm to manufacture biosimilars with the first in-house developed products expected to be launched during 2017.

  • As announced in May 2016, the Hungarian government plans to introduce a so-called chancellor system in the public healthcare sector by the end of 2016, which would allow for an improvement in state oversight of health institutions' finances. According to plans, the government would appoint chancellors to oversee how healthcare institutions manage their cash flows and optimize spending.

  • In May 2016, the Central Statistical Office said in its annual report that the average Hungarian household spent 4.9% of their income, or HUF44,771 (EUR143) per person, on healthcare services and drugs in 2014. However, this varied significantly across different income levels.

BMI Economic View

The Hungarian government's expansive fiscal policy plans for 2017 are a significant reversal from previous pledges, and may put an investment grade upgrade this year out of reach. Fiscal loosening only reinforces our relatively hawkish inflation and interest rate forecasts for 2017.

BMI Political View

While a former member of the ruling Fidesz party has been implicated in the Panama papers scandal, we do not believe this will have a tangibly negative impact on Fidesz' high level of public support. The party's strong stance on immigration will continue to be a key factor underpinning the government's popularity, and with the Brussels attacks in Marc boosting further anti-migration fears across the EU, we believe the Fidesz party will remain the most popular party in Hungary for the duration of its term in power.

BMI Industry View
Table: Headline Pharmaceuticals & Healthcare Forecasts (Hungary 2014-2020)
Industry Forecast
Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, Historical Data And Forecasts (Hungary 2012-2020)
Healthcare Market Forecast
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Hungary 2012-2020)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Hungary 2012-2020)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Hungary 2012-2020)
Prescription Drug Market
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Hungary 2012-2020)
Patented Drug Market Forecast
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Hungary 2012-2020)
Generic Drug Market Forecast
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Hungary 2012-2020)
OTC Medicine Market Forecast
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Hungary 2012-2020)
Pharmaceutical Trade Forecast
Table: Pharmaceutical Trade Data And Forecasts (Hungary 2014-2020)
Table: Pharmaceutical Trade Data And Forecasts local currency (Hungary 2014-2020)
Industry Risk Reward Index
Central And Eastern Europe Risk/Reward Index
Hungary Risk/Reward Index
Regulatory Review
Intellectual Property Issues
Pricing Regime
Table: OEP Reimbursement Changes, September 2014
Reimbursement Regime
Market Overview
Healthcare Sector
Table: Healthcare Resources (Hungary 2010-2015)
Table: Healthcare Personnel (Hungary 2010-2015)
Table: Healthcare Activity (Hungary 2010-2015)
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.