Greece Pharmaceuticals and Healthcare Report Q3 2007
Business Monitor International, October 2007, Pages: 62
The Greece Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Greeces pharmaceuticals and healthcare industry.
The Greek pharmaceutical market remains one of the least-developed European Union (EU) markets. In 2006, the government implemented a new pricing and reimbursement system, which led to the reduction in prices of off-patent brands and the removal of over-the-counter (OTC) products from the reimbursement system. Consequently, in the short term, the OTCs are likely to experience some stagnation, although the value of the market will increase towards the latter ends of the forecast period, reaching US$670mn and representing just over 10% of the total market by value.
Nevertheless, economic reforms - especially in the areas of social insurance, welfare and the labour market, which are currently underway in the country - will continue to ensure that pharmaceutical-market growth experiences a gradual upward trend over the next five years. In addition, the government is seeking to improve the monitoring of public tendering, worth more than US$1.3bn per annum, in order to eradicate corruption. Other drivers of market growth include epidemiological and demographic trends, which will in particular stimulate the growth of the branded imported segment, although the need to contain hospital debts will dampen the sector’s prospects. On the other hand, generics will be encouraged by cost-containment measures, although their share of the total pharmaceutical market value is likely to remain at no higher than 6.3% by 2011.
The adjusted Business Environment Rankings for the Central Eastern Europe (CEE) region reveal that Greece is in joint sixth place with Ukraine and Russia, out of the 15 markets surveyed. Improvements in the regulatory conditions of other markets, Bulgaria, Romania and Estonia in particular, have pushed Greece down from the joint fourth place enjoyed in Q207. Barriers to market entry in Greece include downward pressures on prices (despite the recent improvement) and market delays suffered by innovative medicines, which has prevented some multinationals from launching in the country.
The country’s pharmaceutical industry is relatively fragmented. While production remains dominated by some local 30 firms, which control 80% of the local market in volume terms, major multinationals jointly account for about two-thirds of the market in value terms. Most recent activities in the pharmaceutical sector include the spate of acquisitions by Greek chemicals and pharmaceuticals firm Alapis, which purchased local drug firm Farmalex, as well as domestic pharmaceutical wholesalers M Panou-Th Mavroudis and A. Moisoglou, and pharmaceutical company Revold Healthcare Products. The move will allow Alapis to achieve a degree of desired vertical integration, boosting its position in the market.
Executive Summary
Greece Pharmaceuticals And Healthcare Industry SWOT
Greece Political SWOT
Greece Economic SWOT
Greece Business Environment SWOT
Greece: Business Environment Ranking
Table: Business Environment Ranking - Central Eastern Europe
Business Environment Ranking
Economics - Long-Term Risk
Politics - Long-Term Risk
Regulatory Barriers
Domestic Sector Threat
Market Growth Potential
Market Size Ranking
Market Summary
Regulatory Regime
Intellectual Property Regime
Pricing Regime
Reimbursement Regime
Parallel Trade
Industry Developments
Health Profile
Healthcare System
Secondary Care
Healthcare Expenditure
Healthcare Reforms
Pharmaceutical Industry
Recent Pharmaceutical Industry Developments
Industry Forecast Scenario
Overall Market Forecast
Table: Greece Drug Market Forecast
Key Growth Factors - Industry
Table: Greece Health Expenditure Forecasts
Key Growth Factors - Macroeconomic
Table: Greece - Economic Activity
Prescription Market Forecast
Table: Greece Prescription Drugs Market Forecast
OTC Market Forecast
Table: Greece OTC Drugs Market Forecast
Generics & Branded Market Forecasts
Export/Import Forecasts
Table: Generics And Branded Market Forecasts
Table: Greece Pharmaceuticals Exports & Imports Forecasts
Other Healthcare Data Forecasts
Table: Greece Other Healthcare Data Forecasts
Key Risks To BMI Forecast
Competitive Landscape
Company Monitor
Indigenous Company Profiles
Lavipharm
Gerolymatos SA
Genepharm
Genesis Pharma
Pharmathen Pharmaceuticals
Kleva
Multinational Company Profiles
GlaxoSmithKline
Pfizer
Novartis
Sanofi-Aventis
Merck & Co
Abbott Laboratories
Our Forecast Modelling
How We Generate Our Industry Forecasts
Technical Process
Pharmaceutical Industry
Sources
- Abbott Laboratories
- Genepharm
- Genesis Pharma
- Gerolymatos SA
- GlaxoSmithKline
- Kleva
- Lavipharm
- Merck & Co
- Novartis
- Pfizer
- Pharmathen Pharmaceuticals
- Sanofi-Aventis
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