£810 / $1295 / €985
We remain less than optimistic about the short- term growth of the Belgian pharmaceutical market. Through to 2016, the market's value is expected to post a negative compound annual growth rate (CAGR) of -1% in both local currency and US dollar terms, largely on account of cost containment measures and patent expirations. Nevertheless, foreign companies are expected to continue using Belgian pr oduction sites for exports, the country also being a popular re-export source.
Headline Expenditure Projections
Pharmaceuticals: EUR6.12bn (US$8.51bn) in 2011 to EUR5.96bn (US$7.57bn) in 2012; -2.6% in local currency terms and -11.0% in US dollar terms. Local currency forecast broadly unchanged from Q412.
Healthcare: EUR38.96bn (US$54.15bn) in 2011 to EUR40.05bn (US$50.86bn) in 2012; +2.8% in local currency terms and -6.1% in US dollar terms. Local currency forecast broadly unchanged from Q412.
Medical devices: EUR1.67bn (US$2.32bn) in 2011 to EUR1.74bn (US$2.21bn) in 2012; +4.2% in local currency terms and -4.8% in US dollar term s. Local currency forecast unchanged from Q412.
Risk/Reward Rating: Belgium is again ranked sixth out of 10 countries in Western Europe, with its risks and rewards scores virtually mirroring the regional average. Despite the well-developed nature of the market, including the high consumption of patented medicines, growth in the coming years will be moderated by factors such as cost containment initiatives and patent expirations.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.