Recently published research from Business Monitor International, "Bulgaria Pharmaceuticals & Healthcare Report Q3 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 06/03/2014 -- BMI View: The Ministry of Health 's plan to increase MAH fees, coupled with price cuts for generic drugs and freezes on OTC medicine prices indicate that the Bulgarian pharmaceutical market will not see meaningful growth in 2014 . However, we expect a pickup in demand for innovative drugs to reinvigorate interest in the country, alt hough it will continue to present a relatively small opportunity for drugmakers in the region.
Headline Expenditure Projections
- Pharmaceuticals: BGN2.32bn (USD1.58bn) in 2013 to BGN2.39bn (USD1.60bn) in 2014; +2.9% in local currency terms and 1.3% in US dollar terms. US dollar forecast revised due to currency strengthening.
- Healthcare: BGN5.69bn (USD3.87bn) in 2013 to BGN5.87bn (USD3.93bn) in 2014; +3.1% in local currency terms and +1.5% in US dollar terms. US dollar forecast revised upwards due to currency strengthening.
View Full Report Details and Table of Contents
Risk/Reward Ratings: In Q3 2014, Bulgaria's Risks and Rewards scores stand above the regional average at 55. The scores take into account the challenges for drugmakers operating in Bulgaria, such as the downward pressure on the prices of drugs and the uncertain political outlook, in addition to positive factors, such as increasing per capita consumption of medicines, albeit from a relatively low base.
Key Trends And Developments
- The NHIF has revised its policy of reviewing drugs for inclusion on its reimbursement list. The review will now take place annually instead of every six months.
- The Ministry of Health plans to raise tariffs and fees on marketing authorisation holders, increasing the cost of drug registrations in the country per drug molecule. This could prove expensive for companies with portfolios of thousands of drugs.
- On Wednesday 29 January 2014, the Bulgarian government voted to raise health insurance premiums by 2% for all employed Bulgarians, raising the proportion of income spent on health insurance to 10%. The taxes will bring in the BGN350mn (USD245mn) needed to shore up the...
The Bulgaria Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Bulgaria Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Bulgarian pharmaceutical and healthcare industry.
- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Bulgaria to test other views - a key input for successful budgeting and strategic business planning in the Bulgarian pharmaceutical and healthcare market.
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