Hungary Pharmaceuticals & Healthcare Report Q1 2015

Nov 12, 2014 - Business Monitor International - 105 pages - USD $1,295
Abstract Table of Contents Request Details Related
We expect the decline in Hungary's pharmaceutical market to stabilise in 2015, although a challenging operating environment and regulatory burden will weigh on market growth. Our country risk team also sees potential headwinds to spending growth, namely Hungary's excessive government deficits and a German economic slowdown that will reverberate throughout the Central and Eastern European region. Pricing pressures and slow uptake of new medicines will continue to present near-term headwinds to pharmaceutical sales, as will patent expiries.

Headline Expenditure Projections
  • Pharmaceuticals: HUF566.71bn (USD2.53bn) in 2013 to HUF579.14bn (USD2.46bn) in 2014; +2.2% in local currency terms and -3.1% in US dollar terms.
  • Healthcare: HUF2,201bn (USD9.84bn) in 2013 to HUF2,145bn (USD9.10bn) in 2014; -2.5% in local currency terms and -7.6% in US dollar terms.
Risk/Reward Index

Our proprietary Risk/Reward assessment tool has been gradually adjusted to be increasingly transparent and sensitive in relation to potential Rewards. Therefore, as its market opportunities become constrained, Hungary has slipped down the regional table, currently ranking tenth out of the 20 regional markets profiled in the Central and Eastern Europe (CEE) region, with a score of 51.2. While its Risks profile is generally predictable, Hungary's Rewards score continues to reflect its challenging pharmaceutical market outlook.

Key Trends & Developments
  • The fallout from the Ukraine crisis and cooling relations between Russia and the West have had an impact on Hungarian pharmaceutical manufacturers such as Egis and Gedeon Richter, with exports to those two key markets declining markedly.
  • Rules by the Hungarian government forcing pharmacists to take equity stakes in their businesses were investigated by the EU Commission for potentially breaching the principles of freedom of establishment and freedom of movement of capital.
  • Sales of OTC medicines in H114...

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About the Publisher
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including Daily Alerts, monthly regional Insights, and in-depth quarterly Country Forecast Reports.