New Market Research Report: Spain Pharmaceuticals & Healthcare Report Q1 2011

New Healthcare market report from Business Monitor International: "Spain Pharmaceuticals & Healthcare Report Q1 2011"
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Jan. 18, 2011 - PRLog -- Spain is ranked eighth, of the 10 countries surveyed in the Western European region in BMI's Business Environment Ratings (BER) for Q111. The country has improved its position by one place and now ranks above both Italy and Portugal. However, while Spain offers positives for investors, such as its large drug market, it also holds various downsides, such as low population growth, cumbersome bureaucracy, provincial differences regarding drug regulation and reimbursement, and modest forecast market expansion due to cost-containment measures. Globally, Spain's pharmaceutical market is rated 19th, having previously been 20th, out of the total of 83 countries surveyed. In the coming quarters, the wideranging price reductions and patent expirations will conspire to keep Spain towards the bottom of the regional BER matrix.

Additionally, we project that the Spanish pharmaceutical market will decline in value during 2010. Drug expenditure is expected to fall to a value of EUR15.61bn (US$20.75bn), which translates into a year-onyear (y-o-y) 5.9% in local currency terms (or of -10.6% in US dollar terms), from the 2009 value of EUR16.59bn (US$23.22bn). This view is based on the effects of price cuts on pharmaceuticals, aimed at generating much-needed savings as a consequence of the current poor fiscal situation in the country, and will be exaggerated by the pending patent expirations. Through to 2014, we forecast a compound annual growth rate (CAGR) of -1.73% in local currency, with the value falling to EUR15.20bn (US$19.00bn).

The above is also a factor of the poor economic outlook for Spain. Having mustered growth of only 0.2% quarter-on-quarter (q-o-q) in Q210, Spain's economic recovery is set to weaken heading into 2011, owing a combination of the onset of government austerity policies, higher taxes on consumption, and a slowdown in global growth. As a result, our growth forecasts for 2010 and 2011 remain unchanged at - 0.6% and 0.9%, respectively, which will also dampen prospects for the performance of the over-thecounter (OTC) medicines market. In light of the weak domestic demand outlook, and with the economy in the first stages of rebalancing, Spain's longer run growth potential will be constrained. While the government is reportedly working on a strategic plan to develop the pharmaceutical sector, increase investments and create jobs in the country, the programme is unlikely to mitigate all negative pressure created by the recent changes in pharmaceuticals pricing. The slowdown in economic growth may also lead to further reining in pharmaceutical of overspend by some regional authorities.

Nevertheless, the sheer size of the Spanish pharmaceutical market will continue to attract interest from foreign players. To this end, Swedish company Recipharm bought a manufacturing plant in Parets in Catalonia for an undisclosed sum, with an aim to create its base in the Spanish market. The plant, acquired from US healthcare company Abbott Laboratories in October 2010, manufactures solid dose, sterile ointments, oral liquids, aerosols and topical products.

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Partial Table of Contents:

SWOT Analysis
- Spain Pharmaceutical And Healthcare Industry SWOT
- Spain Political SWOT
- Spain Economic SWOT
- Spain Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Western Europe Pharmaceutical Business Environment Ratings, Q111
- Rewards
- Risks
Spain - Market Summary
Regulatory Regime
- Regulatory Developments
- Intellectual Property Issues
- Intellectual Property Deficiencies
- Parallel Trade
- Counterfeit Medicines
- OTC Medicines
- Generic Medicines
- Pricing Regime
- Table: Spain's Pharmaceutical Pricing Reforms Timeline
- Reference Pricing System
- Reimbursement Regime
Industry Developments
- Epidemiology
- Table: Spain Mortality By Select Causes
- Healthcare Sector
- Table: SNS Debt 2007
- Medical Tourism
- Research & Development
- Clinical Trials
- Medical Devices
Industry Forecast Scenario
- Overall Market Forecast
- Table: Pharmaceutical Sales Indicators 2006-2014
- Key Growth Factors - Industry
- Table: Healthcare Expenditure Trends, Historical Data and Forecasts, 2006-2014
- Key Growth Factors - Macroeconomic
- Table: Spain - Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2006-2014
- Patented Drug Market Forecast
- Table: Patented Drug Sales Indicators 2006-2014
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2006-2014
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2006-2014
- Medical Device Market Forecast
- Table: Medical Device Sales Indicators 2006-2014
- Pharmaceutical Trade Forecast
- Table: Pharmaceutical Imports & Exports Indicators 2006-2014
- Other Healthcare Data
- Key Risks To BMI Forecasts
Competitive Landscape
- Pharmaceutical Sector
- Foreign Industry
- Indigenous Sector
- Generic Drug Sector
- Biotechnology Sector
- Table: Firms Active In Nanofarma Consortium
- Pharmaceutical Retail
Company Profiles
- Indigenous Manufacturers
- Almirall
- Esteve
- Leading Multinational Manufacturers
- GlaxoSmithKline
- Pfizer
- Novartis
- Sanofi-Aventis
- Merck & Co

Full Table of Contents is available at:

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International 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.
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Tags:Drug, Pharmaceutical, Spanish, Q410, Pharmaceuticals, Medicines, Healthcare, Bers
Industry:Health, Medical, Research
Location:Massachusetts - United States
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