Italy Pharmaceuticals and Healthcare Report Q4 2008
Business Monitor International, December 2008, Pages: 65
Our Italy Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Italy's pharmaceuticals and healthcare industry.
The poor performance in the Italian market looks set to continue over the forecast period. Following low growth in 2005 and 2006, the market posted a decline in 2007. Between 2007 and 2012 the compound annual growth rate (CAGR) should be just 1.85% in local currency terms, with the market reaching a value of EUR25.1bn (US$US$32.2bn). The first six months of 2008 seem to support this pessimistic prognosis, with market expenditure by the Italian National Health Service - the Servicio Sanitario Nazionale (SSN) - falling by 1.4% (year-on-year).
From 2006, the state has made a concerted effort to decrease prices through initiatives including increasing generic penetration, the introduction of new reference pricing and across-the-board price cuts. This had a significant impact on spending in 2007, the effects of which are being carried through into2008 with average price reductions of 6.9% y-o-y per pack in the first half.
As a result, most of Italy’s major pharmaceutical players have been looking to foreign markets to drive growth. In H108, Recordati saw sales on the domestic front fall 2.4%, which the company attributed to negative price effects. Sales on foreign markets, however, increased by 13.3% y-o-y and now account for close to 70% of total pharmaceutical sales.
Meanwhile, Italy has climbed off of the bottom of BMI’s business environment rankings for Q408, although that was mainly due to the deteriorating business environment rankings of Spain, which now props up the table. Italy hasn’t been helped by recent allegations of corruption at the Italian medicine agency AIFA. Director general Nell Martini has been suspended following a two-year investigation into the approval and subsequent granting of licences for a number of drugs.
Executive Summary
Table: Italy Pharmaceuticals And Healthcare Industry SWOT
Italy Political SWOT
Italy Economic SWOT
Pharmaceutical Business Environment Ratings
Table: Western Europe Pharmaceutical Business Environment Rankings
Limits Of Potential Returns
Risks To Realisation Of Returns
Market Summary
Healthcare Sector
Regulatory Regime
Intellectual Property Developments
Industry Developments
Company Developments
Foreign Markets Aid Recordati In 2008
Biotechnology
Clinical Trials
Wholesale and Pharmacy Sectors
Epidemiology
Table: Disease Burden In Western Europe
Industry Forecast Scenario
Overall Market Forecast
Table: Drug Market Indicators
Key Growth Factors – Industry
Table: Health Expenditure Indicators
Key Growth Factors – Macroeconomic
Table: Italy - Macroeconomic Forecasts
Prescription Market Forecast
Table: Prescription Market Indicators
OTC Market Forecast
Table: OTC Market Indicators (US$mn unless otherwise stated)
Generics Market Forecast
Table: Generics Market Indicators
External Trade Forecast
Table: Pharmaceutical Trade Indicators (US$mn)
Medical Devices
Table: Italy’s Medical Device Market, 2006-2012 (US$bn unless otherwise stated)
Other Healthcare Data Forecasts
Table: Italian Socio-Demographic Indicators
Competitive Landscape
Company Profiles
Leading Multinational Manufacturers
GlaxoSmithKline
Pfizer
Novartis
Sanofi-Aventis
Merck & Co
Indigenous Manufacturer
Recordati
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
Our Forecast Modelling
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Table: Pharmaceutical Business Environment Indicators
Weighting
Table: Weighting Of Components
Sources
- GlaxoSmithKline
- Merck & Co
- Novartis
- Pfizer
- Recordati
- Sanofi-Aventis
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