BMI's Executive Summary

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The Estonian pharmaceutical market is estimated to have reached US$233mn in 2007, rising by 12.5% on the previous year. Key drivers of growth over the next five years will be increased healthcare spending and strong economic growth forecasts, which should push the value of the market to US$331mn by 2012.

Indeed, over the last decade, Estonia has increased its focus on providing public services, with a 10% annual increase in its healthcare spending. Such an investment is urgently needed as poor healthcare has been seen as a weak link in Estonia's 15-year post-Soviet economic 'miracle'. However, the country is still struggling with persistent rates of some infectious diseases, including the highest HIV infection rate in the EU by some distance.

In BMI's revised Business Environment Rankings for the 15 major markets of Central & Eastern Europe (CEE), Estonia is found in a respectable fifth place. However, in absolute terms, Estonia will remain a marginal market in the CEE region. The main limiting factor is the small and falling population, which is compounded by the strict reimbursement regime. On a positive note, the country will continue to invest in biotechnology and pharmaceutical research and development (R&D), which is strongly supported by the government.

In the meantime, imports will continue to gain ground in relation to exports, which have tailed off following the recent winding down of manufacturing, as the largest local firm Tallinn Pharmaceutical Plant – part of Latvia's Grindeks – moved some of its operations abroad. Market expansion is severely limited by strong competition in the supply chain, characterised by a concentrated wholesale market and chain-dominated retail pharmacy landscape.

Contents

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Chapter 1 - Executive Summary

Estonia Pharmaceuticals & Healthcare Industry SWOT

Chapter 2 - Estonia: Business Environment Rankings

Table: Central & Eastern Europe Generic Pharmaceuticals Business Environment Ranking

Business Environment Ranking

Economics - Long-Term Risk

Politics - Long-Term Risk

Regulatory Barriers

Domestic Sector Threat

Market Growth Potential

Market Size Ranking

Chapter 3 - Estonia: Market Summary

Chapter 4 - Regulatory Regime

Intellectual Property Developments

Pricing & Reimbursement Issues

Industry Developments

Healthcare Sector

Chapter 5 - Industry Forecast Scenario

Overall Market Forecast

Table: Estonia Drug Market Forecast Expenditure Indicators

Key Growth Factors - Industry

Table: Estonia Health Expenditure Forecast Indicators

Key Growth Factors - Macroeconomic

Table: GDP, Output & Population

Prescription Market Forecast

Table: Estonia Prescription Drug Market Forecast Indicators

OTC Market Forecast

Table: Estonia OTC Market Forecast Indicators

Generics Market Forecast

Table: Estonia Generics Market Forecast Indicators

Export/Import Forecasts

Table: Estonia Pharmaceuticals Exports & Imports Forecasts

Other Healthcare Data Forecasts

Table: Other Healthcare Data

Key Risks to BMI's Forecast Scenario

Chapter 6 - Competitive Landscape

Manufacturing

Table: Market Shares Of Leading Producers In Estonia

Wholesale Sector

Retail Sector

Table: Pharmacies & Pharmacy Market Ratios

Chapter 7 - Company Monitor

Grindeks (includes Tallinn Pharmaceutical Factory)

Chapter 8 - BMI Forecast Modelling

How We Generate Our Industry Forecasts

Technical Process

Pharmaceutical Industry

Sources

Chapter 9 - Appendix: Regional Demographic Data

Wages (ave labour force per annum), US$ PPP

Population

Household Spending Per Capita, US$

Private Consumption Per Capita, US$ PPP

Market Size, GDP, US$bn

Chapter 10 - Country Snapshot: Estonia Demographic Data

Section 1: Population:

Table: Demographic Indicators (2005)

Table: Rural/Urban Breakdown

Section 2: Education & Healthcare

Table: Education

Table: Healthcare: Vital Statistics

Table: Healthcare: Expenditure

Section 3: Labour Market And Spending Power

Table: Employment Indicators

Table: Consumption and Stratification

Table: Wages per year

Competitive Landscape for Europe Pharmaceuticals and Healthcare: Sample of Companies Ranked

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Cross-border analysis of regulatory systems comparing the patenting environment, summarising regional pricing and reimbursement factors and monitoring the growth of the Pharmaceuticals sector across the region. Company SWOTs cover leading multinational and national drug companies operating in each market.

Network of European Pharmaceutical & Healthcare Sources

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BMI's Pharmaceuticals & Healthcare Reports are based on an extensive network of multilateral organisations, government departments, pharmaceutical & healthcare industry associations, chambers of commerce and company reports. Information sources include: