The Pharmaceutical Market: Slovakia

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.

Slovakia joined the EU in May 2004. The legal pharmaceutical framework is fully compliant with that of the EU and the intellectual property environment has improved. The United States Government removed Slovakia from the Special 301 Report Watch List in 2006.

In 2009, the Slovak market for pharmaceuticals is estimated to be worth US$1,895 million, or US$347 per capita. It is expected that the market will continue to expand at a rate of 9.4% per annum, reaching US$3,325 million by 2014.

Around 80% of the pharmaceutical market is supplied by imports. The value of imports increased by 32.2% in 2007, reaching US$1.3 billion. Germany, the Czech Republic and France were the leading suppliers in 2007, accounting for over 40% of imports.

Funding for healthcare in Slovakia is principally through the health insurance system. The Slovak healthcare system is still very much in the public sector, although the majority of pharmacies and health spas are now privately-owned. Slovakia spends around 7.0% of GDP on healthcare.

The leading domestic producer, Zentiva, was formed in August 2003 by the merger of the Czech company Léèiva and Slovakofarma, the largest pharmaceutical company in the Slovak Republic. In 2007, Zentiva claimed 28% of the Slovakian pharmaceutical market in volume terms and 9% in value terms. Slovakia is the company.s fourth most important market.