Italy Pharmaceuticals & Healthcare Report

Published 08 April 2015

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

BMI View: SNS pharmaceutical expenditure will decline in 2015 - creating revenue pressures for drugmakers and pharmacies in Italy and increasing out-of-pocket costs for the population. In February 2015, it was announced that the public healthcare costs will be slashed by EUR2.6bn (USD2.9bn) in 2015. We note that this accounts for a large proportion of the EUR5.2bn (USD5.8bn) spending cuts announced by the government.

Headline Expenditure Projections

  • Pharmaceuticals: EUR19.94bn (USD26.72bn) in 2014 to EUR19.07bn (USD20.98bn) in 2015; -4.3% in local currency terms and -21.5% in US dollar terms.

  • Healthcare: EUR145.41bn (USD194.85bn) in 2014 to EUR147.28bn (USD162.01bn) in 2015; +1.3% growth in local currency terms and -16.9% in US dollar terms.

Risk/Reward Index : In our Pharmaceuticals and Healthcare Risk/Reward Index (RRIs), Italy is 13th out of the 15 markets surveyed in Western Europe. Despite being a large market, Italy is characterised by low levels of annual growth, largely due to of widespread price cuts. Additionally, the Italian economy is one of the most vulnerable economies in an already shaky eurozone. High levels of public debt, poor infrastructure and a lack of competitiveness indicate that the country will remain one of the region's laggards over the forecast period.

Key Trends And Developments

In February 2015, Europe's pharmaceutical and biotech companies filed a complaint against a new Italian law that promotes the off-label use of drugs, stating that the law is aimed solely at saving money. The European Federation of Pharmaceutical Industries and Associations (EFPIA), the European Confederation of Pharmaceutical Entrepreneurs (EUCOPE) and the European association for bio-industries (EuropaBio) filed a complaint to the European Commission (EC) regarding the matter. The associations claim that the country's legislation is promoting the use of drugs 'for an indication for which they do not have marketing authorisation, purely for economic...

Table of Contents

BMI Industry View
7
SWOT
9
Political
10
Economic
11
Business Environment
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Pharmaceutical Sales, Historical Data And Forecasts (Italy 2010-2018)
15
Healthcare Market Forecast
16
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Italy 2010-2018)
18
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Italy 2010-2018)
18
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Italy 2010-2018)
19
Prescription Drug Market Forecast
20
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Italy 2010-2018)
21
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Italy 2010-2018)
23
Generic Drug Market Forecast
24
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Italy 2010-2018)
25
OTC Medicines Market Forecast
26
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Italy 2010-2018)
28
Pharmaceutical Trade Forecast
28
Table: Pharmaceutical Trade Data And Forecasts (Italy 2012-2018)
29
Table: Pharmaceutical Trade Data And Forecasts local currency (Italy 2012-2018)
30
Other Healthcare Data
30
Key Risks To BMI's Forecast Scenario
31
Macroeconomic Forecasts
32
Table: GDP By Expenditure (Italy 2011-2018)
37
Industry Risk Reward Ratings
38
Western Europe Risk/Reward Index
38
Italy Risk/Reward Index
43
Rewards
43
Risks
43
Market Overview
44
Industry Trends And Developments
45
Epidemiology
45
Healthcare Sector
46
Biosimilars
49
Biotechnology
49
Clinical Trials
50
Regulatory Development
51
Intellectual Property Developments
52
Pricing Regime
53
Reimbursement Regime
58
Tenders
61
Competitive Landscape
63
Pharmaceutical Industry
63
Pharmaceutical Wholesale Sector
66
Retail Pharmacy Sector
67
Company Profile
69
Recordati
69
Menarini
75
GlaxoSmithKline
79
Pfizer
81
Novartis
84
Sanofi
87
Merck & Co
89
Demographic Forecast
91
Table: Population Headline Indicators (Italy 1990-2025)
92
Table: Key Population Ratios (Italy 1990-2025)
92
Table: Urban/Rural Population & Life Expectancy (Italy 1990-2025)
93
Table: Population By Age Group (Italy 1990-2025)
93
Table: Population By Age Group % (Italy 1990-2025)
94
Glossary
96
Methodology
98
Pharmaceutical Expenditure Forecast Model
98
Healthcare Expenditure Forecast Model
98
Notes On Methodology
99
Risk/Reward Index Methodology
100
Index Overview
101
Table: Pharmaceutical Risk/Reward Index Indicators
101
Indicator Weightings
102

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

Key Benefits

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

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc