Spain's Pharmaceuticals Market Was Worth US$16.58bn in 2007 and is Forecast to Reach US$18.9bn in Value by 2012

2008-05-20 23:33:45 -

www.researchandmarkets.com - Research and Markets ( www.researchandmarkets.com/reports/c92391) has announced the addition of Spain Pharmaceuticals and Healthcare Report Q2 2008 to their offering.

The Spain Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on Spain's pharmaceuticals and healthcare industry.

Spain's drug market was worth US$16.58bn in 2007 and is forecast to reach US$18.9bn in value by 2012, representing

a compound annual growth rate (CAGR) of 2.65%, which is hardly stellar but is perhaps understandable in light of the period of economic cooling that the country is likely to experience in the next few years. The generics sector is showing the most robust growth, which should reach a value of US$1.04bn by 2012, however the fact that it is growing from a low base is limiting its impact on the overall market.

In Q208, the author has included Spain's medical device sector in its coverage for the first time. Following rapid growth in the early part of the decade, the market reached an estimated value of US$3.9bn in 2007. Although the sector is still expanding at a brisk pace in local currency terms, exchange rate considerations have affected the market in US dollar terms. However, for 2006-2012, the author forecasts that there will be a CAGR of around 10% in US dollar value, driven by the continuing incorporation of new technology and the demands of an aging population.

Spanish drugmaker Zeltia announced in December 2007 that it is planning to float its neurological disease arm Neuropharma on the stock market. The author believes a public float could be a good source of new capital and may spark further listings in the Spanish drug sector. Canadian generics firm Apotex has made its second acquisition in Europe in the space of a month, snapping up Spain's Lareq Pharma, for an undisclosed fee, from parent company Industria Quimica Y Farmaceutica.

Spain remains at the bottom of the business environment rankings due to sluggish growth and a relatively low per capita spend on pharmaceuticals. However, this last factor could actually act as an incentive for investors as it means that there remains untapped capacity in the country and potential upside, especially in underdeveloped areas such as generics.

Content Outline:

Executive Summary

Spain: Pharmaceutical And Healthcare Industry SWOT

Spain Political SWOT

Spain Economic SWOT

Pharmaceutical Business Environment Ratings

Table: Business Environment Rankings

Spain - Market Summar

Regulatory Regime

Intellectual Property Issues

Pricing And Reimbursement Issues

Table: Timeline - Spains Pharmaceutical Pricing Reforms

Price Cut On Older Drugs

Reference Pricing System

Industry Reaction

Parallel Trade

Industry Developments

Foreign Sector

Generics Sector

Indigenous Manufacturing Sector

Research Sector Developments

Table: Firms Active In Nanofarma Consortium

Government Investment

Industry Forecast Sce34

Overall Market Forecast

Table: Spain's Drug Market Forecast Indicators

Table: Spain's Health Expenditure Forecast Indicators

Key Growth Factors - Industry

Key Growth Factors - Macroeconomic

Table: Spain Economic Activity

Patented Market Forecast

Table: Spain's Patented Drugs Market Forecast Indicators (US$mn unless otherwise stated)

OTC Market Forecast

Table: Spain's OTC Market Forecast Indicators (US$mn unless otherwise stated)

Generics Market Forecast

Table: Spain's Generics And Branded Market Forecast Indicators

Export/Import Forecast

Table: Pharmaceutical Trade Indicators (US$mn)

Medical Devices

Spain Medical Device Market Forecast

Competitive Landscape

Retail Market

Manufacturers

Company Profiles

Leading Multinational Manufacturers

GlaxoSmithKline (GSK)

Pfizer

Novartis

Sanofi-Aventis

Merck & Co

Indigenous Manufacturers

Almirall Prodesfarma

Dr Esteve

Our Forecast Modelling

How We Generate Our Industry Forecasts

Pharmaceutical Industry

Pharmaceutical Business Environment Ratings Methodology

Ratings Overview

Table: Pharmaceutical Business Environment Indicators

Weighting

Table: Weighting Of Components

Sources

Companies Mentioned:

- Almirall Prodesfarma

- Dr Esteve

- GlaxoSmithKline (GSK)

- Merck & Co

- Novartis

- Pfizer

- Sanofi-Aventis

For more information visit www.researchandmarkets.com/reports/c92391

Research and Markets
Laura Wood, Senior Manager
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press@researchandmarkets.com