The Pharmaceutical Market: Austria

Espicom's in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.

The population of Austria is estimated to be 8.4 million in 2009 with 18.0% of the population aged 65 and over. Vienna is the most populated region of Austria accounting for 20.1% of the population. The Austrian pharmaceutical market is estimated at approximately US$6.0 billion in 2009, equal to US$716 per capita. The pharmaceutical market is expected to grow by 7.5% annually to reach US$8.6 billion, or US$1,011 per capita, in 2014.

Austria has a stable, mature economy but will nevertheless be affected by the global economic downturn. Real GDP growth is expected to fall to -4.3% in 2009, according to figures from the Economist Intelligence Unit, rising to 0.9% in 2011 and 2.3% in 2014.

Healthcare expenditure has continued its steady growth in recent years, increasing by 4.4% to reach 27.5 billion euros (US$31.6 billion) in 2007, with private expenditure accounting for around 22.6% of the total. Of this, 1.8 billion euros (US$2.4 billion) was spent on pharmaceutical products and medical durables and non-durables.

Cardiovascular drugs are market leaders both in terms of value and volume. In 2008, cardiovascular drugs had a 20.3% market share in terms of value and 30.6% by volume. The share of generics in the pharmaceutical market is low, but it is rising. In 2007, generics accounted for 14.5% of the market in terms of value and 25.0% in terms of volume.

The main challenge facing the Austrian pharmaceutical system is rising costs. The main reason for this is an ageing population and the uptake of new, more expensive pharmaceuticals.