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

Oct. 6, 2010 - PRLog -- Following EU accession in 2004, Slovakia became an attractive investment prospect for foreign companies, boasting an internationally compliant regulatory environment, a traditionally high pharmaceutical consumption rate, low operating costs (compared with its Western neighbours) and the healthcare demands of an ageing population. However, according to a recent survey undertaken by the German Chamber of Commerce and Industry, Slovakia's attractiveness as a foreign direct investment (FDI) destination is falling, with the country now ranked fourth, from second previously, within the Central and Eastern Europe (CEE) region.

In BMI's Business Environment Ratings (BER) for Q410, Slovakia scored a slightly improved 57.0 for its overall pharmaceutical rating, on the back of the economic recovery. However, the new score placed Slovakia in eighth position of the 20 markets surveyed in CEE, one place lower than in Q3. While the relatively low-risk nature of Slovakia remains attractive to drugmakers, its absolute sales - EUR1.61bn (US$2.25bn) - and growth rates - a compound annual growth rate (CAGR) of 4.09% in local currency is forecast from 2009 to 2014 - are not particularly encouraging. This is especially the case in light of the need for fiscal consolidation and falling population numbers, even though an ageing population theoretically increases pharmaceutical demand, particularly for chronic treatments. While cost-containment measures support a shift towards greater generics consumption, the government has also touted increased spending on innovative medicines, which has led us to propose a 2009-2014 CAGR of 2.77% in the patented drugs sector, despite reference system price reductions and pending patent expirations.

Moreover, in August 2010, the new coalition government of Slovakia was reported by thepharmaletter.com to have prepared a series of major draft amendments to existing laws, with the aim of protecting pensioners and disabled people from huge out-of-pocket charges as well as of increasing transparency in the healthcare sector. The government has proposed the introduction of caps on out-of-pocket prescription drugs for pensioners and disabled people. The authorities intend to introduce the new amendments, presently open for public consultation, in 2011.

BMI expects the programme to be supported by expected macroeconomic stability. Our 10-year forecasts indicate Slovak real GDP growth averaging 3.6%, peaking at 4.1% in 2015 (although this is significantly lower than the rate of 7.4% from 2004-2008). Moreover, in addition to relatively strong rates of economic growth and high degrees of political stability, we also expect Slovak inflation to remain subdued over the long term, which will play a role in the modest year-on-year (y-o-y) increase in the country's pharmaceutical consumption values. We expect the high rate of unemployment within the economy (which will impact private spending on 'less essential' medical products and healthcare services), alongside the inevitable slowdown in growth in H210, to quell medium-term inflationary pressures.

For more information or to purchase this report, go to:
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Partial Table of Contents:

Executive Summary
SWOT Analysis
- Slovakia Pharmaceuticals Industry SWOT
- Slovakia Political SWOT
- Slovakia Economic SWOT
- Slovakia Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Emerging Europe Pharmaceutical Business Environment Ratings, Q410
- Rewards
- Risks
Slovakia - Market Summary
Regulatory Regime
- Generic Drug Legislation
- Intellectual Property Regime
- Pricing Regime
- Table: Slovakia - Price Build-Up for Prescription and Non-Prescription Medicines
- Reimbursement Regime
Industry Trends And Developments
- Epidemiology
- Table: Main Causes Of Mortality & Morbidity In Slovakia, 2006
- Table: Disease Burden In CEE
- Healthcare Sector
- Health Insurance
- Private Health Insurance
- Health Insurance Reforms
- Healthcare Funding Crisis
- Healthcare Sector Developments
- Research & Development
- Clinical Trials
- Medical Device Market
- Table: EU Medical Devices Classifications
Industry Forecast Scenario
- Key Growth Factors - Industry
- Key Growth Factors - Macroeconomic Outlook
- Table: Slovakia - Economic Activity
- Prescription Drug Market Forecast
- Patented Drug Market Forecast
- Generic Drug Market Forecast
- OTC Medicine Market Forecast
- Medical Device Market Forecast
- Pharmaceutical Trade Forecasts
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Industry
- Recent Pharmaceutical Industry Developments
- Pharmaceutical Distribution
Company Monitor
- Indigenous Company Profiles
- Zentiva (Sanofi-Aventis/Sicomed)
- Biotika
- HBM Pharma (formerly Hoechst-Biotika)
- Imuna Pharma
- Multinational Company Profiles
- GlaxoSmithKline
- Sanofi-Aventis
- Pfizer
- Novartis
- Merck & Co
- Roche
Country Snapshot: Slovakia Demographic Data
- Section 1: Population:
- Table: Demographic Indicators
- Table: Rural/Urban Breakdown
- Section 2: Education And Healthcare
- Table: Education
- Table: Healthcare: Vital Statistics
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators
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Full Table of Contents is available at:
-- http://www.fastmr.com/catalog/product.aspx?productid=8729...

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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.