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The Pharmaceutical Market: Latvia
Espicom Business Intelligence Ltd, Oct 2011, Pages: 54
THE PHARMACEUTICAL MARKET: LATVIA - REVIEW
The Latvian economy experienced a deep contraction in 2009 but the situation has become more stable since the end of 2010. Economic recovery will continue in 2011, although growth will be moderate. Latvia has the second smallest economy in Central & Eastern Europe, and GDP per capita is below average for the region. Health spending in Latvia is expected to increase by a moderate CAGR between 2011 and 2016, in line with GDP growth. Public health expenditure accounts for over half of the total; public funding is sourced entirely through general taxation. Private expenditure is almost wholly on an out-of-pocket basis; insurance schemes remain rare.
The Latvian pharmaceutical market is comparable in size to Lithuania, although per capita spending is above the regional average. The market is dominated by imports which are largely responsible for driving market growth. Latvia has a small number of drug makers which concentrate on former Soviet markets; only around 25% of domestic production is sold locally. R&D capabilities are strong but public spending on R&D is low. The Latvian pharmaceutical market is expected to grow by a moderate CAGR over the next few years.
Latvia was the principle location for biotechnology in the former Soviet Union. The country’s scientists were considered pioneers in the field and their capacity still exists in the present day. The development of biotechnology in Latvia was seriously hindered in the 1990s with the closure of many large factories and plants. However, the pace of development has picked up since Latvia joined the EU in 2004. Whilst Latvia has made progress in biomedicine, it has not yet reached EU levels.
ENHANCED STRATEGIC INTELLIGENCE
These highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
- Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
- Specialised intelligence on OTCs, generics, biologics and biosimilars.
- Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
- A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
- The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
HEALTHCARE STATISTICS
A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.
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