(MENAFNEditorial)
We expect the newfound independence of the national health insurer (HZZO) to have negative consequences for the pharmaceutical sector as it will use its purchasing power to extract price cuts from drugmakers. With Croatia's economy set to stagnate containing costs will be a priority for the health insurer. We therefore expect growth to remain depressed over the short term.
Headline Expenditure Projections
* Pharmaceuticals: HRK6.64bn (USD1.09bn) in 2013 to HRK6.37bn (USD1.03bn) in 2015; -4.0% in local currency and -4.7% in US dollar terms. Forecast revised downwards from Q115.
* Healthcare: HRK22.40bn (USD3.67bn) in 2014 to HRK21.47bn (USD3.49bn) in 2014; -4.3% in local currency and -5.0% in US dollar terms. Forecast revised down from Q115.
Full Report Details at
- http://www.fastmr.com/prod/951936_croatia_pharmaceuticals_healthcare_report_q2_2015.aspx?afid=101
Risk/Reward Index
Despite its accession to the EU Croatia offers only moderate growth over the long term. Croatia has a RRI score of 49.7 out of 100 making it the 14th most attractive pharmaceutical market in Central and Eastern Europe. Croatia scores below the regional average score of 51.1 in Q215 highlighting its risk-reward balance is in line with the region as a whole. Croatia scores (19.1) below the regional average for Industry Risks (19.7) with bureaucracy and transparency cited as key business concerns that have dragged its risk score down. In the category of Rewards Croatia's score (30.6) is below average (31.5) highlighting the limited growth outlook for pharmaceuticals and the small overall size of the Croatian market.
Key Trends And Developments
* From January 1 2015 the HZZO gained financial independence with its funding separated from the treasury. The HZZO will now purchase healthcare services and procure pharmaceuticals on its own terms.
* In January 2015 the Croatian healthcare system was granted EUR250mn (USD290mn) in European Commission funding to be used to upgrade its infrastructure.
* Domestic drugmaker Jadran Galenski Laboratorij (JGL) announced in December 2014 that it...
The Croatia 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 Croatia Pharmaceuticals & Healthcare Report provides industry professionals strategists company executives investors analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Croatia pharmaceutical and healthcare industry.
Key Benefits
* Benchmark BMI's pharmaceutical and healthcare market forecasts for Croatia to test other views - a key input for successful budgeting and strategic business planning in the Croatian pharmaceutical and healthcare market.
* Target business opportunities and risks in the Croatian pharmaceutical and healthcare sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Croatia.
* 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 ViewAn 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 ScenarioIndustry 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 IndexBMI’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 SummaryA snapshot of key market characteristics including total size of the pharmaceuticals and healthcare segments growth drivers leading therapeutic areas and the competitive landscape
Industry DevelopmentsA 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 RegimeDetails 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 LandscapeThe 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*
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