Market Report, "Moldova Pharmaceuticals & Healthcare Report Q2 2011", published

April 22, 2011 - PRLog -- Moldova's small market size and its status as one of the poorest countries in Europe will continue to weigh heavily on its score in BMI's Pharmaceutical & Healthcare Business Environment Ratings (BERs). In our updated BERs for Q211, the country remains near the bottom of regional matrix, returning to its previous position of 19th of the 20 Central and Eastern Europe (CEE) markets analysed. Moldova's Industry Rewards score has improved since the Q111 analysis, but a moderate downgrade to its Country Risk score has resulted in a minimal overall increase to 38.8 in Q211, from 37.7 in Q111.

In 2010, BMI calculates that pharmaceutical expenditure in Moldova reached a value of MDL2.18bn (US$176mn), having achieved double-digit growth rates up to 2007. The market achieved moderate growth of just 1.3% in local currency terms in 2009. Growth of just 5.1% is expected in 2010, with a slightly improved 7.3% expected in 2011. The economic recovery in 2010 and 2011 should return the market to positive growth, with increased expenditure driven by the current low per-capita spending and demand for quality medicines facilitating longer-term expansion.

Due to the market's dependence on imported pharmaceuticals, the stability of the Moldovan leu against the euro remains a key risk to BMI's growth forecast While we project relatively stable exchange rates, significant currency appreciation will lead to lower growth in local currency terms.

Between 2010 and 2015, we calculate the country's healthcare spending will increase from MDL8.59bn (US$694mn) to MDL14.9bn (US$1.20bn) experiencing a compound annual growth rate (CAGR) of 11.7% in local currency terms and 11.53% in US dollar terms. Public healthcare spending accounted for 50.4% of total healthcare spending in 2010 and should comprise 50.1% by 2015, with extended insurance coverage and the range of medical services available expanding.

BMI Political View: Our core views for Moldovan politics remain firmly in play, with the inability of the major parties to form a government following parliamentary elections on November 28 2010 set to ensure a protracted political stalemate into 2011. With neither the Communist party nor the Alliance for European Integration having won the 61 parliamentary seats required to elect a president, we maintain that there will be no quick resolution.

BMI Economic View: The Moldovan economy posted real GDP growth of 7.8% year-on-year (y-o-y) in Q310, according to a preliminary estimate. While growth was fairly broad-based according to estimates, construction and agriculture both performed well. We expect growth to have come in at 6.2% in 2010, above consensus, and see it motoring on into 2011. That said, we do not expect the current rate of real GDP expansion to continue, with growth forecast to dip to 5.3% in 2011, and to hit 6.1% in 2012.

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Partial Table of Contents:

SWOT Analysis
- Moldova Pharmaceuticals And Healthcare Industry SWOT
Pharmaceutical Business Environment Ratings
- Table: Emerging Europe - Regional Pharmaceutical Business Environment Ratings, Q111
- Rewards
- Risks
Moldova - Market Summary
Regulatory Regime
- Intellectual Property Rights
- Counterfeit Pharmaceuticals
- Pricing Regime
- Reimbursement Regime
- International Trade Agreements
Industry Developments
- Epidemiology
- Table: Republic of Moldova - Top 10 Causes of Death
- Table: Republic of Moldova - Leading Causes Of Morbidity As % of Total Disease Burden
- Communicable Diseases
- Healthcare Sector
- Table: Moldova's Public Health Expenditure - Provided By National Office of Statistics 2010
- Primary Care
- Secondary Care
- Table: Moldova - Number of Hospitals*
- Compulsory Health Insurance
- Table: Republic of Moldova - Social Health Insurance (SHI) Contributions By Source (As % Of Total)
- Recent Health Insurance Developments
- Research and Development
- Medical Devices
Industry Forecast Scenario
- Overall Market Forecast
- Table: Pharmaceutical Sales Indicators 2007-2015
- Key Growth Factors - Industry
- Table: Health Expenditure Indicators 2007-2015
- Key Growth Factors - Macroeconomic
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2009-2015
- Patented Drug Market Forecast
- Table: Patented Drug Sales Indicators 2007-2015
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2009-2015
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2009-2015
- Medical Devices Market Forecast
- Table: Medical Device Sales Indicators 2007-2015
- Pharmaceutical Trade Forecast
- Table: Pharmaceutical Imports & Exports Indicators 2007-2015
- Other Healthcare Data Forecasts
- Key Risks to BMI's Forecasts
Competitive Landscape
- Pharmaceutical Industry
- Table: Republic of Moldova - Top Ten Manufacturers by Value
- Table: Republic of Moldova - Top Ten Trade, INNs/Combinations and ATC Groups as Percentages of Total Market Value (2008)
- Domestic Industry
- Table: Republic Of Moldova - Top 10 Local Manufacturers (H107)
- Foreign Industry
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Full Table of Contents is available at:
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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.