Italy Pharmaceuticals and Healthcare Report Q2 2012
Business Monitor International, February 2012, Pages: 82
Business Monitor International's Italy Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Italy's pharmaceuticals and healthcare industry.
BMI View: The pharmaceuticals and healthcare sector will be a target of further cost containment, particularly as National Health System (SSN) data for H111, which shows a decline in spending, highlights the success of previous cost-containment efforts.
Headline Expenditure Projections
- Pharmaceuticals: EUR24.90bn (US$34.63bn) in 2011 to EUR23.52bn (US$31.52bn) in 2012; -5.5% in local currency terms (-9.0% in US dollar terms).
- Healthcare: EUR151.85bn (US$211.19bn) in 2011 to EUR154.02bn (US$206.39bn) in 2012; +1.4% growth in local currency terms (-2.3% in US dollar terms).
- Medical devices: EUR6.42bn (US$8.93bn) in 2011 to EUR6.61bn (US$8.86n) in 2012; +2.9% growth in local currency terms (-0.8% in US dollar terms).
Risk/Reward Rating: In BMIs Pharmaceuticals and Healthcare Risk/Reward (RRRs) for Q212, Italy is eighth out of the 10 markets surveyed in Western Europe. Despite being a large market, Italy is characterised by low levels of annual growth, largely because of widespread price cuts. Additionally, the Italian economy is one of the most vulnerable economies in an already shaky eurozone. High levels of public debt, poor infrastructure and a lack of competitiveness indicate that the country will remain one of the region’s laggards over the forecast period.
Key Trends And Developments
- In December 2011, the Italian Medicines Agency (AIFA) approved the reimbursement of Sanofi’s drug Jevtana (cabazitaxel) and AstraZeneca’s Brilique (ticagrelor). Jevtana is designed to treat patients with prostate cancer, while Brilique is for the treatment of acute coronary syndrome. The AIFA also granted reimbursement approval to a new pen injector presentation of Merck KGaA’s fertility treatment Ovitrelle (choriogonadotropin alpha). Six new presentation forms featuring pre-filled pens of Roche’s hepatitis C drug Pegasys (peginterferon alpha 2a) have secured the AIFA’s approval. The decisions show the country wants to remain an innovative pharmaceutical market, though the debt crisis continues to cause concern.
BMI Economic View: The onset of fiscal austerity amid deterioration in eurozone economic activity will mean the Italian economy contracts by 1.4% in 2012, down from the 0.8% growth estimated in 2011. Although Prime Minister Mario Monti’s supply-side reforms might help support the economy in the long term, it could choke off growth in the short term. Concerns about the very existence of the euro in 2012 are expected to hold back investment, further weighing on the economy. With the government accounting for nearly 80% of total healthcare spending and 90% of total pharmaceutical spending, cost containment in the healthcare sector may be seen as a relatively easy way of cutting expenses at a time of such uncertainty.
BMI Political View With the new Italian technocratic government led by Monti having won a final parliamentary confidence vote on November 18 2011, the administration is ready to embark on a lastditch attempt to restructure the economy and consolidate the country’s public finances. While the determination of the prime minister, reaffirmed by the choice of high-profile figures as ministers, is beyond doubt, the political parties could hamper Monti’s agenda, especially as local elections and electoral referendums approach.
Executive Summary
SWOT Analysis
Italy Pharmaceuticals And Healthcare Industry SWOT
Italy Political SWOT
Italy Economic SWOT
Italy Business Environment SWOT
Pharmaceuticals Risk/Reward Ratings
Table: Western Europe Pharmaceuticals And Healthcare Risk/Reward Ratings, Q212
Rewards
Risks
Italy – Market Summary
Regulatory Regime
Table: Pharmaceutical Status Switches
Intellectual Property Developments
Pricing Regime
Reimbursement Regime
Industry Developments
Epidemiology
Healthcare Sector
Biotechnology
Clinical Trials
Medical Devices
Industry Forecast Scenario
Overall Market Forecast
Table: Pharmaceutical Sales, 2008-2016
Key Growth Drivers – Industry
Table: Overall Healthcare Expenditure, 2008-2016
Table: Governmental Healthcare Expenditure, 2008-2016
Table: Private Healthcare Expenditure, 2008-2016
Key Growth Drivers – Macroeconomic
Table: GDP By Expenditure, Current Prices Breakdown, 2008-2016
Prescription Drug Market Forecast
Table: Prescription Drug Sales, 2008-2016
Patented Drug Market Forecast
Table: Patented Drug Sales, 2008-2016
Generic Drug Market Forecast
Table: Generic Drug Sales, 2008-2016
OTC Medicine Market Forecast
Table: OTC Medicine Sales, 2008-2016
Medical Device Market Forecast
Table: Medical Devices Sales, 2008-2016
Pharmaceutical Trade Forecast
Table: Pharmaceutical Trade, 2008-2016
Other Healthcare Data Forecasts
Key Risk To BMI’s Forecasts
Competitive Landscape
Pharmaceutical Industry
Table: Leading Local Healthcare Companies By Market Capitalisation
Recent Company Developments
Pharmaceutical Wholesale Sector
Retail Pharmacy Sector
Company Profiles
Local Companies
Recordati
Menarini
Multinational Companies
GlaxoSmithKline
Pfizer
Novartis
Sanofi
Merck & Co
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
Glossary
BMI Methodology
How We Generate Our Pharmaceutical Industry Forecasts
Pharmaceutical Risk/Reward Ratings Methodology
Ratings Overview
Table: Pharmaceutical Risk/Reward Indicators
Weighting
Table: Weighting Of Components
Sources
- Recordati
- Menarini
- Multinational Companies
- GlaxoSmithKline
- Pfizer
- Novartis
- Sanofi
- Merck & Co
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