Spain Pharmaceuticals and Healthcare Report Q1 2009
Business Monitor International, February 2009, Pages: 75
This Report on Spain’s Pharmaceuticals and Healthcare provides independent forecasts and competitive intelligence on Spain's pharmaceuticals and healthcare industry.
Spain’s drug market showed continued strong growth in 2008, with government backing for prescription drugs continuing to drive sales. The Q109 report sees forecasts extend through to 2013. Healthy levels of growth should prevail over this period, with average annual growth of 4.7%. Government support for patented drugs will lead to continued growth in sales; however, a growing need to use generics as a cost-saving measure will contain further rapid expansion. Regional autonomy in pharmaceutical policy means there are a range of cost-saving initiatives in Spain and the establishment of a unified scheme still appears unlikely in the short term. Meanwhile, following low levels of growth in the over-the-counter (OTC) market in recent years, sales should begin to increase slowly over the forecast period.
Spain places fifth in the Business Environment Rankings for Western Europe in Q109. Strong market dynamics are largely constrained by market risks, which include a sub-standard intellectual property (IP) regime, low prices and payment delays.
Spain's Ministry of Health will add 13 new groups of medicines to the reference price scheme in March 2009. In addition to updating the prices of 150 drugs presently covered by the scheme, the ministry hopes to shave EUR380mn (US$485mn) off its annual drugs bill. A further EUR23mn in patient savings should also be realised. As of March 2009 – when the new system is set to be introduced – 5,511 drug presentations will be affected, more than double the amount in 2007.
Spanish regional autonomies continue to accumulate high levels of debts, which are having a severe impact on pharmaceutical companies, according to drug industry association Farmaindustria. The industry association believes that around EUR2.0bn (US$2.5bn) is owed to pharmaceutical companies. As a result, drug companies can wait up to two years before receiving payments.
The local manufacturing sector remains largely fragmented and in need of consolidation. Western Europe appears to be the prime focus for leading Spanish drug maker Admiral Prodesfarma. Company President Jorge Gallardo confirmed France, Germany the UK and Italy as likely destinations, following several unsuccessful moves on the domestic front.
Executive Summary
Swot Analysis
- Spain: Pharmaceutical And Healthcare Industry SWOT
- Spain Political SWOT
- Spain Economic SWOT
Pharmaceutical Business Environment Ratings
- Table: Western Europe Pharmaceutical Business Environment Rankings
- Limits To Potential Returns
- Risks To Realisation Of Potential Returns
Spain - Market Summary
Regulatory Regime
- Intellectual Property Issues
- Pricing And Reimbursement Issues
- Table: Timeline - Spain's Pharmaceutical Pricing Reforms
- Price Cut On Older Drugs
- Reference Pricing System
- Industry Reaction
- Parallel Trade
Industry Developments
- Table: SNS Debt 2007
Industry Forecast Scenario
- Overall Market Forecast
- Table: Spain’s Drug Market Indicators, 2004-2013
- Key Growth Factors - Industry
- Table: Spain’s Health Expenditure Indicators, 2004-2013
- Key Growth Factors - Macroeconomic
- Table: Spain - Economic Activity
- Prescription Market Forecast
- Table: Spain - Prescription Drug Market Forecast (2004-2013)
- Patented Market Forecast
- Table: Spain’s Patented Drugs Market Indicators, 2004-2013
- Generics Market Forecast
- Table: Spain’s Generics Market Indicators, 2004-2013
OTC Market Forecast
- Table: Spain’s OTC Market Forecast Indicators (US$mn unless otherwise stated)
- Export/Import Forecast
- Table: Pharmaceutical Trade Indicators, 2004-2013 (US$mn)
- Medical Devices Forecast
- Table: Spain’s Medical Device Market, 2002-2012 (US$bn unless otherwise stated)
- Key Risks To BMI Forecasts
Competitive Landscape
- Manufacturers
- Foreign Sector
- Indigenous Sector
- Generics Sector
- Research/Biotechnology Sector Developments
- Table: Firms Active In Nanofarma Consortium
- Government Investment
Company Profiles
- Leading Multinational Manufacturers
- GlaxoSmithKline (GSK)
- Pfizer
- Novartis
- Sanofi-Aventis
- Merck & Co
- Indigenous Manufacturers
- Almirall Prodesfarma
- Dr Esteve
Country Snapshot: Spain 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 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 (GSK)
- Pfizer
- Novartis
- Sanofi-Aventis
- Merck & Co
- Almirall Prodesfarma
-Dr Esteve
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