New Healthcare market report from Business Monitor International: "France Pharmaceuticals & Healthcare Report Q4 2012"
Boston, MA -- (SBWIRE) -- 01/01/2013 -- BMI View: Aligning with our view that we expect the French government to engage in more concerted fiscal consolidation to mount over the coming quarters, particularly following the elections held in early 2012, we believe that the publication of Mutualite Francaise's data on the falling volume sales of generic drugs and the National Academy of Medicine's report on the increase in the number of 'not substitutable' prescriptions will push the government to implement policies to increase the consumption of generic medicines over high-value patented medicines. Additionally, we believe that it is vital that the government launches an information campaign for consumers regarding the quality and efficacy of generic drugs.
Headline Expenditure Projections
- Pharmaceuticals: EUR35.01bn (US$48.66bn) in 2011 to EUR34.17bn (US$43.39bn) in 2012; -2.4% in local currency terms and -10.8% in US dollar terms. Local currency forecast broadly unchanged from Q312.
- Healthcare: EUR234.30bn (US$325.68bn) in 2011 to EUR239.29bn (US$303.89bn) in 2012; +2.1% in local currency terms and -6.7% in US dollar terms. Local currency forecast slightly lower from Q312 on account of worsening macroeconomic environment.
- Medical devices: EUR10.72bn (US$14.89bn) in 2011 to EUR11.07bn (US$14.06bn) in 2012; +3.3% in local currency terms and -5.61% in US dollar terms. Local currency forecast broadly unchanged from Q312.
View Full Report Details and Table of Contents
Risk/Reward Ratings: France remains ranked fourth out of the 10 markets in BMI's Western Europe Pharmaceutical Risk/Reward Ratings (RRR) matrix for Q412, with an unchanged composite score, at 67.9 out of the maximum 100 points. France's reward profile remains considerably less attractive than its risk score, reinforcing our view of the country's potential due to a stronger emphasis on the regulatory environment, which we regard as a major factor affecting the business environment for drugmakers, rather than on the basis of real opportunities for higher per-capita drug consumption.
Key Trends And Developments
- A study commissioned by the European Association of Judges for Mediation (Gemme) and released in mid-2012 has found GPs are partly responsible for the underperformance of generic drugs in France. Gemme's report said GPs add the words 'not substitutable' to 22% of prescriptions, preventing pharmacists from giving an equivalent generic option to the more expensive branded drug. Some physicians have become reluctant to prescribe generic drugs due to negative comments on the quality or safety of these drugs, according to Claude Leicher, chairman of GP trade union MG France..
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