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Slovenia Pharmaceuticals and Healthcare Report Q1 2008
Business Monitor International, Nov 2007, Pages: 60
The Slovenia Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Slovenias pharmaceuticals and healthcare industry.
Slovenia is one of the more advanced markets in the Central and Eastern European (CEE) region. Its long-term prospects are, however, hampered by a small population size (only around 2mn), its maturity, and certain shortcomings of its intellectual property (IP) regime pertaining to pharmaceuticals. On a positive note, the relatively wealthy population, high healthcare standards and high prices of branded generics will continue to provide support for a steady growth over the coming years. In addition, the country is required to align its market authorisation dossiers to European Union (EU) standards by the end of 2007, as required by the membership.
Prescription drugs will continue to account for the majority of the market by value, which are - at 90% of the total - higher than in other CEE countries. The situation is partly the result of over-prescribing and overuse of hospitals, although the need for healthcare and pharmaceutical cost containment will over time lead to the reduction in the share of prescription drugs, providing impetus for over-the-counter (OTC) market growth. On the other hand, the long tradition of generic pharmaceutical manufacturing, disadvantages facing foreign manufacturers and the high percentage of generics (many of which are highpriced branded generics) as a share of the total market (estimated at 33% in 2007) will continue to stimulate the growth in the generics sector.
In the adjusted Business Environment Rankings, Slovenia occupies a position in the middle of the table which compares the 15 key regional markets in Central and Eastern Europe (CEE). Slovenia is tied with Russia in sixth place, just ahead of Romania. While the market size remains a major obstacle to future growth, on a positive side, the expansive private insurance coverage and established trade regimes with Western Europe (boosted by the recent entry into the eurozone) allow for good placement of novel drugs onto the market.
The bulk of Slovenia’s domestic production, which has traditionally been dominated by Krka and Lek, is destined for export, given the small size of the home market. Domestic consumption is a fairly even mix of imported drugs and locally manufactured generics. Most major multinationals are present on the Slovenian market, although very few have a manufacturing presence, largely as a result of the country’s inadequate IP laws, its small size and its proximity to Western Europe. The major exception is Novartis, with its generics subsidiary Sandoz present in Slovenia since its acquisition of Lek in late 2002.
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