Spain Pharmaceuticals & Healthcare Report

Published 23 December 2014

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

BMI View: The deterioration of the Spanish economy and the government's implementation of increasingly aggressive fiscal austerity policies that focus on cost containment in the healthcare sector seriously hinder the country's attractiveness to drugmakers. Despite calls made by companies for the implementation of a system that adequately rewards innovation and supports investment in future medicines, the government is likely to remain committed to fiscal consolidation and will continue to target the pharmaceutical sector - a large recipient of public healthcare expenditure.

Headline Expenditure Projections

  • Pharmaceuticals: EUR24.09bn (USD31.79bn) in 2013 to EUR23.03bn (USD30.85bn) in 2014; -4.4% in local currency terms and -3.0% in US dollar terms.

  • Healthcare: EUR101.79bn (USD134.37bn) in 2013 to EUR102.20bn (USD136.95bn) in 2014; +0.4% in local currency terms and +1.9% in US dollar terms.

Risk/Reward Index

In BMI's Pharmaceutical Risk/Reward Index (RRI) for Q115, Spain scored 65.4 and ranked 11th out of the 15 countries surveyed in Western Europe. While Spain offers investors positive features, such as its large drug market, it also has problems, such as the government's focus on cost containment, low population growth, cumbersome bureaucracy and provincial differences regarding drug regulations and reimbursement.

Key Trends And Developments

November 2014

Spain-based pharmaceutical company Almirall concluded an agreement with Anglo-Swedish drugmaker AstraZeneca to transfer 719 of its employees and rights to its respiratory franchise. Under the terms of the agreement, Almirall will transfer all its rights for the development and commercialisation of existing respiratory business revenues from the company's partnerships and pipeline of investigational therapeutics to AstraZeneca. 'This global collaboration will allow us to maximize the potential value of our exciting respiratory franchise,' Almirall's President Jorge Gallardo said. AstraZeneca will be...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Pharmaceutical Sales, Historical Data And Forecasts (Spain 2010-2018)
15
Healthcare Market Forecast
16
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Spain 2010-2018)
17
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Spain 2010-2018)
17
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Spain 2010-2018)
18
Prescription Drug Market Forecast
19
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
21
Patented Drug Market Forecast
22
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
23
Generic Drug Market Forecast
24
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
25
OTC Medicine Market Forecast
26
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Spain 2010-2018)
27
Pharmaceutical Trade Forecast
28
Table: Pharmaceutical Trade Data And Forecasts (Spain 2012-2018)
29
Table: Pharmaceutical Trade Data And Forecasts local currency (Spain 2012-2018)
29
Other Healthcare Data
30
Key Risks To BMI's Forecast Scenario
30
Macroeconomic Forecasts
31
Economic Analysis
31
Table: Economic Activity (Spain 2009-2018)
37
Industry Risk Reward Ratings
38
Western Europe Risk/Reward Ratings
38
Spain Risk/Reward Ratings
44
Rewards
44
Risks
44
Market Overview
46
Industry Trends And Developments
47
Epidemiology
47
Healthcare Sector
48
Table: Regional Public Hospital Debt - Values In EURmn
49
Research & Development
51
Clinical Trials
53
Regulatory Development
55
Intellectual Property Issues
56
Parallel Trade
57
OTC Medicines
58
Generic Medicines
59
Pricing Regime
59
Reference Pricing System
61
Reimbursement Regime
64
Competitive Landscape
65
Pharmaceutical Sector
65
Generic Drug Sector
66
Biotechnology Sector
67
Pharmaceutical Retail
70
Company Profile
72
Almirall
72
Esteve
76
GlaxoSmithKline
80
Pfizer
83
Novartis
86
Sanofi
88
Merck & Co
90
Demographic Forecast
92
Table: Spain's Population By Age Group, 1990-2020 ('000)
93
Table: Spain's Population By Age Group, 1990-2020 (% of total)
94
Table: Spain's Key Population Ratios, 1990-2020
95
Table: Spain's Rural And Urban Population, 1990-2020
95
Glossary
96
Methodology
98
Pharmaceutical Expenditure Forecast Model
98
Healthcare Expenditure Forecast Model
98
Notes On Methodology
99
Risk/Reward Ratings Methodology
100
Ratings Overview
101
Table: Pharmaceutical Risk/Reward Ratings Indicators
101
Indicator Weightings
102

The Spain Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'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 Spain Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Spain pharmaceutical and healthcare industry.

Key Benefits

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