Boston, MA -- (SBWIRE) -- 10/15/2014 -- Despite the Spanish economy returning to growth in 2014 and picking up steam heading into 2015, we believe that the country ' s pharmaceutical sector will not follow suit until 2018. Regardless of calls made by companies for the implementation of a system that adequately rewards innovation and supports investment in future medicines, the government will likely continue with its cost containment measures by targeting the healthcare sector and patients as it tries to reduce its expenditure on prescription drugs, creating a challenging environment for drug companies operating in Spain.

Headline Expenditure Projections

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- Pharmaceuticals: EUR24.09bn (USD31.79bn) in 2013 to EUR23.11bn (USD30.97bn) in 2014; -4.0% in local currency terms and -2.6% in US dollar terms.

- Healthcare: EUR101.60bn (USD134.11bn) in 2013 to EUR102.09bn (USD136.81bn) in 2014; +0.5% in local currency terms and 2.0% in US dollar terms.

Risk/Reward Rating

In BMI's Pharmaceutical Risk/Reward Ratings (RRRs) for Q414, Spain scored 65.4 and ranked 11th out of the 15 countries surveyed in Western Europe. While Spain offers investors positive features, such as its large drug market, it also has problems, such as the government's focus on cost containment, low population growth, cumbersome bureaucracy and provincial differences regarding drug regulations and reimbursement.

Key Trends And Developments

September

Swiss drugmaker Roche has revealed plans to restructure its pharmaceuticals business in Spain, which will affect 100 jobs. The move is driven by challenging market and price controls. The cuts will affect support staff and sales representatives, Roche said, adding that the current environment 'requires a transformation of the company,' reports the Pharma Times. There is a need to downsize to adjust to 'current and future business needs'. The company has introduced several initiatives to maintain the efficiency of the company and keep its investment in R&D in the country, according...

The Spain 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 Spain Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Spanish pharmaceutical and healthcare industry.

Key Benefits

- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Spain to test other views - a key input for successful budgeting and strategic business planning in the Spanish pharmaceutical and healthcare market.

- Target business opportunities and risks in the Spanish pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Spain.

- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View & Industry SWOT

An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.

Market Summary

Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.

Industry Developments

Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

BMI Industry Forecasts

Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

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