"Portugal Pharmaceuticals & Healthcare Report Q2 2011" now available at Fast Market Research

April 26, 2011 - PRLog -- Portugal's pharmaceutical market was worth EUR3.59bn (US$4.77bn) in 2010, and drug market expenditure is likely to remain at a similar level in 2011. Several factors have contributed to the slowdown of Portugal's pharmaceutical market over recent years. Austerity measures, in both healthcare and in other areas, have placed downward pressure on the market. Government cuts are widespread, and the pharmaceutical industry is vulnerable to this fiscal retrenchment. Price cuts in 2010 followed by a tight budget for 2011 are placing considerable pressure on margins. Another reason for the market's decline is a demographic one; Portugal has a low birth rate and a new wave of skilled young people moving abroad in search of work - meaning the population is aging. One upside to this trend is that as life expectancy increases, then so will demand for medicines.

Market developments include the creation of new online drug database by Infarmed, the National Authority of Medicines and Health Products, a Government agency accountable to the Health Ministry, which enables patients and other stakeholders to search for information about their treatment, its active ingredients and to enables them to compare the price of drugs. By providing easy access to this information, the government will stimulate greater levels of communication between patients and their healthcare providers and should generate interest in what medicines are available.

A series of increases to drug prices in 2010, as well as an increase in VAT, may have affected the industry's profits, but they are not the only ones suffering. While the industry faces delayed payments, pharmacists are also suffering, with the Associacao Nacional das Farmacias (ANF) reporting that it is common for customers to ask for their drugs on credit because of reduced reimbursement rates. Media reports in January 2011 indicated that pharmacies faced up to EUR61mn of customers' unpaid bills.

Figures published by Infarmed for 2010 reveal some interesting trends in both the generic and OTC markets. While price cuts have been applied to more expensive generic drugs, data collected shows that some generic drugs sold under the EUR3.25 mark - unaffected by price cuts - have actually increased in price over the past year. In the self-medication market, the presence of OTCs in mass market outlets may have pushed prices down for basic medicines, but newer drugs in novel therapeutic categories, such as weight loss aids, are posting strong growth revealing that customers are prepared to pay for certain treatments and margins here are often more generous. One other development is a new law introduced in January 2011 allowing pharmacies to open 24 hours a day, seven days a week, should they wish to do so.

Given the downward pressure on prices, and the likelihood that this will continue throughout 2011 and beyond, BMI forecasts a compound annual growth rate (CAGR) of -1.22% in local currency between 2010 and 2015 in local currency terms.

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Partial Table of Contents:

SWOT Analysis
- Portugal Pharmaceuticals And Healthcare Industry SWOT
- Portugal Political SWOT
- Portugal Economic SWOT
Pharmaceutical Business Environment Ratings
- Table: Western Europe Pharmaceutical Business Environment Ratings For Q211
- Rewards
- Risks
Portugal - Market Summary
Regulatory Regime
- Table: Number Of Marketing Authorisations Issued In Portugal
- Table: Number Of Medicines With Marketing Authorisation
- Parallel Imports
- Recent EU Regulatory Developments
- Pricing Regime
- Generic Drugs
- Reimbursement Regime
- Pharmacoeconomics
Industry Trends And Developments
- Epidemiology
- Healthcare System
- Pharmaceutical Industry
- Recent Company Developments
- Wholesale Sector
- Pharmacy Sector
- Clinical Research
- Medical Devices
Industry Forecast Scenario
- Overall Market Forecasts
- Table: Pharmaceutical Sales Indicators 2007-2015
- Key Growth Factors - Industry
- Table: Healthcare Expenditure Indicators 2007-2015
- Table: Government Healthcare Expenditure Indicators 2007-2015
- Table: Private Healthcare Expenditure Indicators 2007-2015
- Macroeconomic Outlook
- Table: Portugal - Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2007-2015
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators 2007-2015
- Generic Drug Market Forecast
- Table: Top Ten Generic Drugs By Value In 2008
- Table: Average price of top generic drugs by value 2009-2010
- Table: Generic Drug Sales Indicators 2007-2015
- OTC Medicine Market Forecast
- Table: Portugal OTC sales outside of pharmacies by therapeutic group (Jan-Nov 2010)
- Table: Portugal OTC sales outside of pharmacies by district (Jan-Nov 2010)
- Table: Portugal OTC sales outside of pharmacies by sales outlet (Jan-Nov 2010)
- Table: Portugal OTC sales outside of pharmacies by active ingredient (Jan-Nov 2010)
- Table: OTC Medicine Sales Indicators 2007-2015
- Pharmaceutical Trade Forecast
- Table: Exports and Imports Indicators 2007-2015
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecasts
Competitive Landscape
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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.