Sweden Pharmaceuticals and Healthcare Report Q4 2010
Business Monitor International, August 2010, Pages: 58
Business Monitor International's Sweden Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Sweden's pharmaceuticals and healthcare industry.
In BMI's Q410 Pharmaceuticals & Healthcare Business Environment Ratings, the Western Europe region scored a total of 64.5 out of a 100. The attractiveness of the region to pharmaceutical firms stems from the fact that its countries are key revenue sources for 'big pharma', particularly for companies selling high-end products, as per-capita spending is substantially higher than in emerging markets. However, it is BMI's view that drug companies will face many challenges in Western Europe over the next decade, including the need to reduce fiscal deficits, the patent cliff, added regulatory hurdles and increasingly scrupulous cost-effectiveness assessments of new drugs – all factors that will influence the risk and reward scores assigned to markets in the region.
BMI considers Sweden one of the most attractive markets globally and in Western Europe for pharmaceutical companies, In BMI’s Business Environment Ratings for Q410, Sweden has maintained its position as third of the 10 Western European markets surveyed. The ratings criteria serve to reinforce our estimation of the country’s potential due to its stronger emphasis on the regulatory environment, which we see as a major factor affecting the business environment for drugmakers. Additionally, given its high per-capita drug expenditure levels, medicines continue to bring in substantial income for companies operating in the country.
This quarter sees the introduction of drug market sector breakdowns for the Swedish pharmaceutical market. As with other markets in Western Europe, the market share of prescription drugs is high due to the government's significant contribution to drug expenditure. In 2009, Swedish pharmaceutical expenditure were valued at SEK30.36bn (US$3.54bn), with prescription drug sales accounting for 90.46% of the total market, valued at SEK27.46bn (US$3.21bn). By 2014 we calculate that the prescription drug market will account for 88.07% of the total drug market, valued at SEK27.39bn (US$3.60bn).
In 2009, patented drugs accounted for a high 76.31% of the total drug market, while generic drugs accounted for 14.15%. BMI believes that the market share of patented drugs is set to decline as a result of the impending patent cliff, while that of generic medicines is set to increase. However, we highlight that the loss of market value in the patented drugs sector will not translate into an equivalent gain in value for the generic drugs market, simply as a result of the much lower cost of generic medicines.
Meanwhile, over-the-counter (OTC) drugs account for 9.54% of the Swedish pharmaceutical market. It is our view that the 2009 liberalisation of the pharmacy market will help Sweden's OTC drug market develop and also have a beneficial effect on the pricing of OTC medicines in the country. The OTC drug market was worth SEK2.90bn (US$338mn) in 2009 and we expect sales to continue increasing over the forecast period, reaching a value of SEK3.71bn (US$488mn) by 2014.
Executive Summary
SWOT Analysis
- Sweden Pharmaceuticals And Healthcare Industry SWOT
- Sweden Political SWOT
- Sweden Economic SWOT
Pharmaceutical Business Environment Ratings
- Table: Western Europe – Regional Pharmaceuticals Business Environment Ratings, Q410
- Rewards
- Risks
- Market Summary
- Regulatory Regime
- Pricing and Reimbursement
- Intellectual Property Regime
Industry Forecast Scenario
- Overall Market Forecast
- Healthcare Market Forecast
- Macroeconomic Forecast
- Table: Sweden – Economic Activity
- Prescription Drug Market Forecast
- Patented Drug Market Forecast
- Generic Drug Market Forecast
- OTC Medicine Market Forecast
- Pharmaceutical Trade Forecast
Medical Devices
- Epidemiology
- Clinical Trials Sector
Competitive Landscape
- Manufacturing Sector
- Distribution Sector
Company Profiles
- Meda
- Swedish Biovitrum
Country Snapshot: Sweden Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare
- Table: Education, 2002-2005
- Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
- Table: Employment Indicators, 2001-2006
- Table: Consumer Expenditure, 2000-2012 (US$)
- Table: Average Annual Wages, 2000-2012
BMI Methodology
- How We Generate Our Pharmaceutical Industry Forecasts
- Pharmaceuticals Business Environment Ratings
- Risk/Reward Ratings Methodology
- Ratings Overview
- Table: Pharmaceutical Business Environment Indicators
- Weighting
- Table: Weighting Of Components
- Sources
- Forecast Tables
- Meda
- Swedish Biotrivim
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