New Market Research Report: Croatia Pharmaceuticals & Healthcare Report Q4 2010

Aug. 27, 2010 - PRLog -- Croatia's pharmaceutical market, valued at HRK5.74bn (US$1.10bn) in 2009, is calculated to have fallen by 4.95% year-on-year (y-o-y) in local currency terms, mostly due to pressures from strict pricing and reimbursement environments, which were exacerbated by the economic downturn. As a percentage of GDP, drug expenditure fell to 1.72% in 2009 from 1.76% in 2008 and was thus just below average in the Central and Eastern European (CEE) region.

Pharmaceutical market growth in Croatia is predicted to return to positive territory in 2010, but only just, at 0.10% y-o-y in local currency. Through to 2014, the market is forecast to post a compound annual growth rate (CAGR) of 2.47%, as patent expirations also play a role in its development. The subsequent five years are expected to witness an improvement in annual growth rates, which leads us to calculate that the value of the Croatian pharmaceutical market will reach HRK7.97bn (US$1.38bn) in 2019. The tenyear CAGR rates are expected to come in at 3.33% and 2.28% in local currency and US dollar terms, respectively.

Generally speaking, we view Croatia as a fairly unattractive market in the longer term. In BMI's Business Environment Ratings (BER) matrix for Q410, Croatia slipped from twelfth to seventeenth position, out of the total of 20 markets surveyed in the Emerging Europe region. The worsening of its position was partly due to a lower composite score, but also to improvements in absolute scores for other emerging markets in the region, which are expected to undergo a faster recovery and post stronger annual growth rates. On the other hand, Croatia is making concerted efforts to meet its European Union (EU) membership requirements, which should facilitate market access for foreign players. Globally, Croatia is placed 56th, out of the total of 83 markets surveyed in our pharmaceutical universe.

Prescription market values will be challenged by the climate of cost-containment, while over-the-counter (OTC) medicines will be facing difficulties posed by the recent economic downturn and a high unemployment rate (of over 17% in early 2010). Nevertheless, with EU membership on the cards for 2013 and convergence gains still to be realised, we maintain a positive long-term view on the Croatian economy, thus also expecting the OTC sector to gradually gain market shares from the prescription market. We caution, however, that delayed EU membership or a more protracted economic recovery present key risks to this outlook over the longer term. In the meantime, the continued improvement in judicial efficiency, eradication of corruption, improvement in market transparency and privatisation of state entities will drive further improvements in the country's investment appeal.

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Report Table of Contents:

Executive Summary
SWOT Analysis
- Croatia Pharmaceuticals Industry SWOT
- Croatia Political SWOT
- Croatia Economic SWOT
- Croatia Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Emerging Europe Pharmaceutical Business Environment Ratings for Q410
- Rewards
- Risks
Croatia - Market Summary
Regulatory Regime
- Pharmaceutical Advertising
- Intellectual Property Regime
- Pricing Regime
- Reimbursement Regime
- OTC Regulations
Industry Trends And Developments
- Epidemiology
- Table: Disease Burden In CEE
- Healthcare Provision
- Healthcare Expenditure
- Table: Croatia - Overview of Prescribing Patterns
- Healthcare Debts
- Healthcare Reform
- Research And Development Sector
- Biotechnology
- Clinical Trials
- Medical Devices
Industry Forecast Scenario
- Overall Market Forecast
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic
- Table: Croatia - Economic Activity
- Prescription Market Forecast
- Patented Market Forecast
- Generics Market Forecast
- OTC Medicine Market Forecast
- Pharmaceutical Trade Forecast
- Other Healthcare Forecasts
- Key Risks To BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Industry
- Table: Croatia - Sales of Medicines by ATC Category
- Table: Croatia - Top 10 Medicines by Value Sales
- Table: Top 10 Therapeutic Groups by Value Sales
- Domestic Pharmaceutical Industry
- Domestic Company Activity
- Foreign Pharmaceutical Industry
- Pharmaceutical Wholesale
- Pharmaceutical Retail
Company Monitor
- Indigenous Company Profiles
- Pliva (Teva Pharmaceuticals)
- Belupo
- Jadran Galenski Laboratorij (JGL)
- Multinational Company Profiles
- GlaxoSmithKline
- Pfizer
- Sanofi-Aventis
- Novartis
- Merck & Co
- Krka
Country Snapshot: Croatia Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare
- Table: Education, 2000-2003
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 1999-2004
- Table: Consumer Expenditure, 2000-2010 (US$)
- Table: Average Annual Wages, 2000-2010
BMI Methodology
- How We Generate Our Pharmaceutical Industry Forecasts
- Pharmaceuticals Business Environment Ratings
- Risk/Reward Ratings Methodology
- Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
- Weighting
- Table: Weighting Of Components
- Sources
Forecast Tables

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.