The Pharmaceutical Market: Spain

The Spanish pharmaceutical market is the fifth largest in the EU-27. This report is ideal for executives wanting to understand the key drivers in the pharmaceutical market and have access to a wealth of statistical data, including five-year market projections. In addition to the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.

Includes 3 quarterly updated outlook reports!

The Spanish pharmaceutical market is the fifth largest in the EU-27. Pharmacy sales are growing at a slower rate compared to hospital sales, but they still represent about three quarters of the market at manufacturers’ prices. In spite of the economic crisis, sales of prescription-only medicines (POM) are performing well, as most of them are prescriptions for the elderly and therefore subsidised. Sales of over-the-counter (OTC) medicines, however, have been affected by the economic slowdown and increasing competition between pharmacies and other establishments.

Economic deterioration is expected in Spain between 2009 and 2010. The effects of the crisis on the pharmaceutical industry are tangible, as the crisis obliges pharmaceutical companies to prioritise R&D, streamline employment and improve competitiveness. Some international companies with subsidiaries in Spain have decided to cut their personnel or close their plants, but overall the National Pharmaceutical Association (FARMAINDUSTRIA) has negotiated a plan for the sector with the Ministries of Health, Industry and Science & Innovation.

Reference pricing is an effective measure to contain SNS pharmacy prescription expenditure. The Ministry of Health has approved its reference pricing revisions for 2009. The new law includes 13 new groups of medicaments under reference pricing and reviews the existing 150 groups of medicaments. In total, reference pricing covers 160 groups of medicaments in 2009. With these revisions, savings are valued at 380.0 million euros (US$555.8 million) for the SNS and 23.0 million euros (US$33.6 million) for consumers in 2009, which are much higher than savings obtained in 2008.

In the last two years, the industry has responded well to a more relaxed regulatory market environment, with a stable reference pricing system, therefore it has invested more in R&D. The draft of the 2009-2012 Profarma programme, presented in June 2009, aims to take into account not only R&D investments but also production capabilities, which migh affect companies which only have R&D capabilities in Spain. The objectives highlighted by the draft are aligned with the agreement signed between FARMAINDUSTRIA and the government in March 2009.

In June 2009, the Ministry of Health, the region of Andalusia and ROVI signed an agreement to build a vaccine manufacturing centre in Granada, Andalusia. This will be the first centre for the production of vaccines against normal and pandemic flu in Spain, and the ninth in Europe. The manufacturing plant is expected to be fully operational in 2012. Investments amount to 60.0 million euros (US$79.4 million), most of which will be invested by ROVI. The new plant will employ about 250 people.

MARKET OUTLOOK
Key national data projections
Pharmaceutical Market Analysis
Current market size
Market structure
Unique 5-year market projections
Imports
Domestic manufacturing
Exports
Research & development
Pharmaceutical regulatory analysis
Including regulation, pricing & reimbursement and intellectual property
Pharmaceutical distribution

Healthcare analysis
Including demographics, healthcare system, health expenditure, healthcare infrastructure and personnel    HEALTHCARE DATA
A comprehensive tabula review of the market, including economic indicators, demographics, health expenditure, hospital and primary care data, and healthcare personnel.