£810 / $1295 / €985
THE PHARMACEUTICAL MARKET: ESTONIA - REVIEW
Our outlook for the Estonian pharmaceutical market remains unchanged. While epidemiological trends will continue to stimulate the volume development of the market, patent expirations and government encouragement of the consumption of cheaper generic medicine will hamper value growth. The market will remain reliant on imports, which are expected to outperform exports and also the overall market development over the forecast period to 2016.
Headline Expenditure Projections
Pharmaceuticals: EUR240mn (US$334mn) in 2011 to EUR253mn (US$322mn) in 2012; +5.5% in local currency terms and -3.6% in US dollar terms. Forecast unchanged from Q4 12.
Healthcare: EUR909mn (US$1.26bn) in 2011 to EUR945mn (US$1.20bn) in 2012; +3.9% in local currency terms and -5.1% in US dollar terms. Forecast unchanged from Q4 12.
Medical devices: EUR97mn (US$134mn) in 2011 to EUR101mn (US$128mn) in 2012; +4.2% in local currency terms and -4.8% in US dollar terms. Forecast unchanged from Q4 12.
Risk/Reward Ratings: In our Pharmaceutical Risk/Reward Ratings (RRRs) for Q113 - out of the 20 key markets in Central and Eastern Europe (CEE) - Estonia climbed up from 12th to 11th place, despite the unchanged composite score, of 51.2 out of the maximum 100, now slightly above the regional average. However, with a score of just 30 for the quarter, Estonia's industry rewards remain considered the weakest part of its pharmaceutical profile, with negative demographic trends, among other factors, conspiring to keep this situation unchanged.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.