Latvia 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 Latvia 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.

Latvia Pharmaceuticals & Healthcare Report
Product Price

BMI View: The outlook for Latvia's pharmaceutical and healthcare markets will be primarily driven by the government's fiscal austerity measures. The healthcare sector, already severely underfunded, will struggle given cuts and place more emphasis on the private sector. Growth in the pharmaceutical sector will be limited by an increasing preference for generic substitution despite a transparent regulatory environment.

Headline Expenditure Projections

  • Pharmaceuticals: EUR338mn (USD372mn) in 2015 to EUR353mn (USD377mn) in 2016; +4.4% in local currency terms and 1.5% in US dollar terms. Forecast unchanged from previous quarter .

  • Healthcare: EUR1.01n (USD1.11bn) in 2015 to EUR1.05bn (USD1.13bn) in 2015; +4.2% in local currency terms and 1.4% in US dollar terms. Forecast unchanged on previous quarter.

Headline Pharmaceuticals & Healthcare Forecasts (Latvia 2014-2020)
2014 2015e 2016f 2017f 2018f 2019f 2020f
f = BMI forecast. Source: WHO, National Sources, BMI
Pharmaceutical sales, USDbn 0.428 0.372 0.377 0.404 0.439 0.476 0.494
Pharmaceutical sales, % of GDP 1.36 1.40 1.39 1.36 1.34 1.32 1.30
Pharmaceutical sales, % of health expenditure 32.9 33.5 33.5 33.5 33.3 33.0 32.6
Health spending, USDbn 1.300 1.110 1.125 1.207 1.320 1.443 1.514

Risk/Reward Index

Latvia is ranked 13th out of the 20 markets in the Central and Eastern European (CEE) matrix with an improved score of 49.4, compared with the previous quarter (47.6). This Increase is primarily due to an increase in the sector value growth of the country's pharmaceutical and healthcare market. Latvia's score remains below the regional average of 52.6, indicating the country's challenging business environment, particularly in terms of potential industry rewards and potential impacts of the eurozone crisis. Consequently, direct multinational operations are limited and domestic companies, such as Grindeks, have looked abroad for growth opportunities.

Latest Updates

  • In January 2016, a EU-wide program to prevent HIV and other infectious diseases among people who inject drugs was launched, focussed primarily at Latvia.

  • In December 2015, it was announced that the number of new HIV infections recorded per 100,000 residents in Latvia was three times higher than the European average over the calendar year.

  • In November 2015, Latvia's healthcare workers went on strike against the government's controversial 2016 budget proposals which are due to scale back healthcare funds.

BMI Economic View

Despite ongoing uncertainty over the leader of the next government, the outlook of Latvia's public finances remains one of the strongest in the eurozone, and we forecast only modest fiscal deficits ahead. Robust real GDP growth and low real borrowing costs will help to drive down the debt/GDP ratio.

BMI Political View

The collapse of the Latvian government, although a surprise, will not lead to significant macroeconomic or market developments. There is a high probability that the new government will be formed from the three parties in the previous coalition, and a significant change of course in government policy seems unlikely.

BMI Industry View
Table: Headline Pharmaceuticals & Healthcare Forecasts (Latvia 2014-2020)
Industry Forecast
Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, Historical Data And Forecasts (Latvia 2012-2020)
Healthcare Market Forecast
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020)
Prescription Drug Market Forecast
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
Patented Drug Market Forecast
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
Generic Drug Market Forecast
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
OTC Medicine Market Forecast
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
Pharmaceutical Trade Forecast
Table: Pharmaceutical Trade Data And Forecasts (Latvia 2014-2020)
Table: Pharmaceutical Trade Data And Forecasts local currency (Latvia 2014-2020)
Pharmaceuticals & Healthcare Risk/Reward Index
Central And Eastern Europe Risk/Reward Index
Latvia Risk/Reward Index
Regulatory Review
Regional Collaboration
Intellectual Property
Pricing Regime
Reimbursement Regime
Market Overview
Healthcare Sector
Table: Healthcare Resources (Latvia 2010-2015)
Table: Hospitals & Beds, 2006-2010
Table: Hospital Beds by Specialty, 2004-2010
Table: Healthcare Personnel (Latvia 2010-2015)
Table: Healthcare Activity (Latvia 2010-2015)
Research & Development
Clinical Trials
Table: Cumulative Reported Cases of HIV and AIDS, 2000-2010
Competitive Landscape
Research-Based Industry
Table: Multinational Market Activity
Generic Drugmakers
Pharmaceutical Distribution
Pharmaceutical Retail Sector
Company Profile
Demographic Forecast
Table: Population Headline Indicators (Latvia 1990-2025)
Table: Key Population Ratios (Latvia 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Latvia 1990-2025)
Table: Population By Age Group (Latvia 1990-2025)
Table: Population By Age Group % (Latvia 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 Latvia 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 Latvia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Latvia pharmaceutical and healthcare industry.

Key Benefits

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