Latvia Pharmaceuticals & Healthcare Report Q2 2015
Headline Expenditure Projections
Risk/Reward Index: Latvia is ranked 16th out of the 20 countries surveyed in the Central and Eastern Europe (CEE) region in Q215. Its position in the rankings has fallen from 12th in our assessment of the previous quarter. Latvia's overall score also fell to 48.8 for Q215 from 50.0 in the previous quarter. Latvia's score remains below the regional average of 51.1, indicating the country's challenging business environment, particularly in terms of potential industry rewards.
- Pharmaceuticals: EUR340mn (USD456mn) in 2014 to EUR360mn (USD449mn) in 2015; +5.6% in local currency terms and -1.5% in US dollar terms.
- Healthcare: EUR0.98bn (USD1.31bn) in 2014 to EUR1.02bn (USD1.27bn) in 2015; +4.1% in local currency terms and -2.8% in US dollar terms.
Key Trends And Developments
BMI Economic View: Russia's deteriorating economic situation is having knock-on...
- In October 2014, the US Food and Drug Administration authorised the use of a new anti-cancer drug, the active ingredient of which was invented and synthesised in Latvia, according to the Latvian Institute of Organic Synthesis head, Ivars Kalvins. The development marks Latvia's first such approval for a substance that was invented and synthesised in the country.
- Olainfarm recorded a 19% year-on-year increase in sales to EUR93.79mn (USD108.47mn) in 2014. Russia, Latvia, Ukraine, Belarus and the Netherlands were major markets for the company's products. Sales of Olainfarm-owned pharmacy chain Latvijas aptieka sostvil were EUR14.9mn (USD17.24mn).
The Latvia Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Latvia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Latvia pharmaceutical and healthcare industry.
- Benchmark BMI's pharmaceutical and healthcare market forecasts for Latvia, to test other views - a key input for successful budgeting and strategic business planning in the Latvian pharmaceutical and healthcare market.
- Target business opportunities and risks in the Latvian pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Latvia.
- Assess the activities, strategy and market position of your competitors using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.
BMI Industry View
An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMIs forecast analysis, and taken together with BMIs political, economic and business environment SWOTs, it gives a complete overview of market climate.
BMI Industry Forecast Scenario
Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:
BMIs Pharmaceuticals and Healthcare Risk Reward Index
- Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per 000 population).
- Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
- Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
- Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
- OTC Drug Market: OTC sales (USDbn & % of total sales).
- Macroeconomic Forecasts: Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against USD, government expenditure and external debt.
BMIs Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the markets risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.
A snapshot of key market characteristics, including total size of the pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape
A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.
Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as analysis of the overall regulatory burden.
The competitive landscape section provides comparative company analyses and index by USD sales and % share of total sales for the total pharmaceutical sector, as well as the OTC, generics and distribution sub-sectors.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMIs industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.
Market growth forecasts are strong although the country will continue to present a modest opportunity to larger multinational companies on account of its relatively small market size. Meanwhile, tensions between Ukraine and Russia may provide challenges for local manufacturers that had sought exports to Russia and the Commonwealth of Independent States (CIS) region as a remedy for lacklustre domestic demand in recent years .
BMI Industry View
Pharmaceutical Market Forecast
Table: Pharmaceutical Sales, Historical Data And Forecasts (Latvia 2010-2018)
Healthcare Market Forecast
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2010-2018)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2010-2018)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2010-2018)
Prescription Drug Market Forecast
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Latvia 2010-2018)
Patented Drug Market Forecast
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Latvia 2010-2018)
Generic Drug Market Forecast
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Latvia 2010-2018)
OTC Drug Market Forecast
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Latvia 2010-2018)
Pharmaceutical Trade Forecast
Table: Pharmaceutical Trade Data And Forecasts (Latvia 2012-2018)
Table: Pharmaceutical Trade Data And Forecasts local currency (Latvia 2012-2018)
Other Healthcare Data
Table: Physicians By Specialty, 2004-2010
Key Risks To BMI's Forecast Scenario
Real GDP By Expenditure Breakdown
Risks To Outlook
Table: Economic Activity (Latvia 2009-2018)
Industry Risk Reward Ratings
Central And Eastern Europe Risk/Reward Index
Latvia Risk/Reward Index
Industry Trends And Developments
Table: Leading Causes of Death, 1990-2010
Table: New Cases of Cancer, 2004-2010
Table: Cumulative Reported Cases of HIV and AIDS, 2000-2010
Healthcare Sector Funding
Table: Hospitals & Beds, 2006-2010
Table: Hospital Beds by Specialty, 2004-2010
Research & Development
Intellectual Property Developments
Table: Licences Issued To Companies Engaged In Pharmaceutical Manufacturing And Distribution, 2007-2011
Table: Medicines Consumption According To Marketing Authorisation Holders (turnover in LVL)
Pharmaceutical Industry Developments
Table: Wholesale Mark-Up Scheme For Reimbursable Pharmaceuticals, 2008
Table: Wholesalers Market Share, 2010 (%)
Table: Pharmacy Mark-Up Scheme For Reimbursable Pharmaceuticals, 2008
Table: Licences Issued To Pharmacies
Merck & Co
Table: Latvia's Population By Age Group, 1990-2020 ('000)
Table: Latvia's Population By Age Group, 1990-2020 (% of total)
Table: Latvia's Key Population Ratios, 1990-2020
Table: Latvia's Rural And Urban Population, 1990-2020
Pharmaceutical Expenditure Forecast Model
Healthcare Expenditure Forecast Model
Notes On Methodology
Risk/Reward Index Methodology
Table: Pharmaceutical Risk/Reward Index Indicators
This report does not have a list of Companies Mentioned available
This report does not have a press release associated with it