BMI's Executive Summary

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The Greek pharmaceutical market remains one of the least-developed of the European Union (EU)-15 markets. The generics segment accounts for only around 10% of the total market by value, although as the government realises the amount of potential savings made from higher usage of copy drugs, their share will rise over the coming years. The fact that they remain priced at 80% of the original will also support this trend. However, epidemiological trends and population ageing will provide an impetus for growth of the patented market segment, especially on the hi-tech end of the scale.

Nevertheless, economic reforms – especially in the areas of social insurance, welfare and the labour market, which are currently underway in the country – will continue to ensure that pharmaceutical-market growth experiences a gradual upward trend over the next five years. In addition, the government is seeking to improve the monitoring of public tendering, worth more than US$1.3bn per annum, in order to eradicate corruption. However, as the authorities clamp down on overprescribing and pharmaceutical fraud, some companies may record a loss of revenue in certain therapeutic areas, such as antibiotics.

BMI's adjusted Business Environment Rankings for the Central Eastern Europe (CEE) region in Q108 places Greece in pole position, ahead of the 14 other markets surveyed. The country boasts higher per capita expenditure on drugs, as a result of a more advanced economy, than the other markets in the region. Nevertheless, in comparison to Western Europe, the Greek pharmaceutical market remains relatively minor. In addition, some multinationals remain reluctant to launch innovative medicines in the country, due to marketing delays, although the 2006 improvements to the reimbursement system are a positive development. Similarly, while the recent changes to the pricing and reimbursement system resulted in some price rises, the country remains one of the sources of parallel-traded medicines.

The country's pharmaceutical industry is relatively fragmented. Production remains dominated by some local 30 firms, which control 80% of the local market in volume terms. As part of the wider pricing and reimbursement changes in 2006, prices of domestically-manufactured branded drugs are now the same as those of equivalent imported drugs, reversing the previously discriminatory policy towards local companies. Major multinationals, which are mostly present through imports, jointly account for about two-thirds of the market in value terms.

Contents

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Chapter 1 - Executive Summary

Greece Pharmaceuticals And Healthcare Industry SWOT

Greece Political SWOT

Greece Economic SWOT

Greece Business Environment SWOT

Market Summary

Chapter 2 - Regulatory Regime

Pricing & Reimbursement Issues

Healthcare

Flu Vaccine Shortage

Epidemiology

Parallel Trade

Chapter 3 - Industry Developments

Chapter 4 - Industry Forecast Scenario

Overall Market Forecast

Table: Greece Drug Market Forecast Indicators

Key Growth Factors - Industry

Table: Health Expenditure Forecasts

Key Growth Factors - Macroeconomic

Table: Greece: Macroeconomic Data And Forecasts

Prescription Market Forecast

Table: Greece Prescription Drugs Market Forecast Indicators

OTC Market Forecast

Table: Greece OTC Drugs Market Forecast Indicators

Generics & Branded Market Forecasts

Table: Greece Generics & Branded Market Forecast Indicators

Export/Import Forecasts

Table: Greece Pharmaceuticals Exports & Imports Forecasts

Other Healthcare Data Forecasts

Table: Greece Healthcare Data Forecasts

Chapter 5 - Competitive Landscape

Chapter 6 - Company Monitor

Profiles

Lavipharm

Gerolymatos SA

Abbott Laboratories

Chapter 7 - BMI Forecast Modelling

How We Generate Our Industry Forecasts

Technical Process

Pharmaceutical Industry

Sources

Chapter 8 - Country Snapshot: Greece 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

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

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: