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UK Pharmaceuticals and Healthcare Report Q3 2007
Business Monitor International, October 2007, Pages: 86
The UK Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on the UKs pharmaceuticals and healthcare industry.
The UK drug sector is technologically advanced, modern and home to one of the best scientific communities in the world. However, as explained in the Q307 Pharmaceuticals & Healthcare Report, a lack of venture capital is stopping the British biotech industry from exploiting these advantages. According to industry estimates, the UK biotech industry is worth just GBP14bn (US$28.27bn), compared to a figure of US$392bn in the US.
As a whole, however, the UK pharmaceuticals market is strong. In 2006, pharmaceutical expenditure stood at US$26.1bn and over the forecast period this should grow at an impressive Compound Annual Growth Rate (CAGR) of 5.31%. Over this same period generic drugs should grow at a CAGR of 9.21%, suggesting that these products are acting as key drivers for the rest of the industry. Certainly the government is keen to encourage generic substitutions, while the refusal of the National Institute for Health & Clinical Excellence (NICE) to recommend National Health Service (NHS) coverage for many of the latest innovative drugs is also proving beneficial. By 2011, generics should account for 25.8% of the total market, representing a total value of US$8.7bn.
One potentially major development in Q307 is the news that the UKs new Health Secretary Alan Johnson has announced that he will renegotiate the Pharmaceutical Price Regulation Scheme (PPRS) following a report from the Office of Fair Trading (OFT) which claimed the NHS is overspending on drugs. The OFT has called for a greater emphasis on ‘value’ which would have a negative impact in the branded dug
sector if approved.
The UK has extended its lead at the top of our Business Environment Rankings for the Western European Region. The UK now has a composite value of 44 after we increased its score for Regulatory Barriers by one point. This follows news that the new police measures to crack down on animal extremist groups are beginning to have an impact. The Serious Organised Crime and Police Act came into force in July 2005 and made it illegal to target any scientist, research facility or company with a campaign of economic damage, which includes criminal damage or blackmail. Such attacks had been damaging the reputation of the UK’s medical research sector, which is a key driver of the economy.
UK Pharmaceuticals & Healthcare Industry SWOT
United Kingdom Political SWOT
United Kingdom Economic SWOT
Business Environment Rankings
Western Europe Region
Business Environment Rankings
Business Environment Ranking
Economics - Long-Term Risk
Politics - Long-Term Risk
Domestic Sector Threat
Market Growth Potential
Market Size Ranking
UK: Market Summary
Intellectual Property Issues
Pricing and Reimbursement Issues
Table: NHS Price Comparisons For Major Pharmaceutical Markets
Table: Savings From Parallel Imports In 2004 (EURmn)
Industry Forecast Scenario
Overall Market Forecast
Table: United Kingdom Drug Market Forecast Indicators
Key Growth Factors - Industry
Table: United Kingdom Research & Development (R&D) Forecast Indicators
Key Growth Factors - Macroeconomic
Table: United Kingdom - Macroeconomic Forecasts
Prescription Market Forecast
Table: United Kingdom Prescription Drugs Market Forecast Indicators
OTC Market Forecast
Table: United Kingdom OTC Market Forecast Indicators
Generics And Branded Market Forecasts
Table: United Kingdom Generics And Branded Market Forecast Indicators
Table: United Kingdom Sectoral Trade Forecast Indicators
Leading Multinational Manufacturers
Merck & Co
Leading Indigenous Manufacturers
Our Forecast Modelling
How We Generate Our Industry Forecasts
- Merck & Co
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