Italy Pharmaceuticals and Healthcare Report Q1 2011
Business Monitor International, November 2010, Pages: 80
Italy 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 Italy's pharmaceuticals and healthcare industry.
In BMI's Q111 Pharmaceuticals & Healthcare Business Environment Ratings (BERs), the Western Europe region scored a total of 64.4 out of 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. Our view is underpinned by the poor state of public finances across the eurozone economy, which will see the largest economies undergo prolonged fiscal adjustments in addition to 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.
In our Pharmaceuticals & Healthcare BERs for Q111, Italy is ranked ninth of the ten markets surveyed. Despite being a large market, Italy is characterised by low levels of growth, largely a result of widespread price cuts. Additionally, the Italian economy is one of the most vulnerable in an already shaky eurozone.
High levels of public debt, poor infrastructure and a lack of competitiveness indicate that the country will remain one of the region’s laggards over our forecast period. Nevertheless, opportunities for innovative drugmakers are still reasonable, given the recent inclusion of orphan medicines on the reimbursement list despite market access barriers now facing novel drugs.
Highlighting opportunities for drugmakers, it was revealed in October 2010 that in a bid to improve patients' access to innovative medicines, the Italian Ministry of Health is to sign an agreement with the country's 21 regions to stop them delaying the uptake of new medicines (in particular oncology drugs) onto their hospital positive lists. The agreement, which was drawn up by the Ministry of Health, is expected to be signed within the next two months.
We welcome the Italian Medicines Agency's focus on improving patient access to high-value therapeutics – in particular oncology medicines – as it can take up to an average of seven months between a cancer drug's approval and it becoming available to patients. However, the success of any agreements between the agency and the country's regions is yet to be seen, as the government remains strongly focused on slashing excessive deficits in regional healthcare budgets. The decision to encourage regions to increase the availability and hence consumption of high-value innovative drugs contradicts overall government sentiment and the clear message to regions to cut healthcare expenditure. Faced with making a EUR27.6bn (US$34.0bn) budget adjustment over the next two years, the Italian government stated in May 2010 that four regions would not receive development funds because they had run excessive deficits in their healthcare budgets. With public debt at 113% of GDP at the end of 2009, Italy has been grouped with the likes of Greece, Ireland, Portugal and Spain as a country with spiralling sovereign debt pressures.
Executive Summary
SWOT Analysis
Italy Pharmaceuticals And Healthcare Industry SWOT
Italy Political SWOT
Italy Economic SWOT
Pharmaceutical Business Environment Ratings
Table: Western Europe - Regional Business Environment Ratings, Q111
Rewards
Risks
Italy – Market Summary
Regulatory Regime
Table: Italy – Examples of Pharmaceutical Status Switches
Intellectual Property Developments
Counterfeit Pharmaceuticals
Pricing Regime
Reimbursement Regime
Industry Developments
Epidemiology
Table: Disease Burden In Western Europe
Healthcare Sector
Healthcare Financing
Pharmaceutical Wholesale Sector
Retail Pharmacy Sector
Biotechnology
Clinical Trials
Medical Devices
Recent Activities in the Medical Devices Industry
Industry Forecast Scenario
Overall Market Forecast
Table: Pharmaceutical Sales Indicators 2006-2014
Key Growth Factors – Industry
Table: Healthcare Expenditure Indicators 2006-2014
Table: Government Healthcare Expenditure Indicators 2006-2014
Table: Private Healthcare Expenditure Indicators 2006-2014
Key Growth Factors – Macroeconomic
Table: Italy – Economic Activity
Prescription Drug Market Forecast
Table: Top 10 Active Pharmaceutical Ingredients By SSN Expenditure
Table: Prescription Drug Sales Indicators 2006-2014
Patented Drug Market Forecast
Table: Patented Drug Market 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 Devices Sales Indicators 2006 - 2014
Pharmaceutical Trade Forecast
Table: Pharmaceutical Export & Import Indicators 2006-2014
Other Healthcare Data Forecasts
Key Risk to BMI’s Forecasts
Competitive Landscape
Pharmaceutical Industry
Leading Local Healthcare Companies According To Market Capitalisation
Recent Company Developments
Company Profiles
Indigenous Manufacturers
Recordati
Menarini
Leading Multinational Manufacturers
GlaxoSmithKline
Pfizer
Novartis
Sanofi-Aventis
Merck & Co
Country Snapshot: Italy 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 Manufacturing Wages, 2000-2012
BMI Methodology
How We Generate Our Pharmaceutical Industry Forecasts
Risk/Reward Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources
- Recordati
- Menarini
- GlaxoSmithKline
- Pfizer
- Novartis
- Sanofi-Aventis
- Merck & Co
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