New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 03/20/2014 -- The Estonian State Agency for Medicines, Ravimiamet, has released pharmaceutical consumption data for Q313. Figures show that sales of medicines rose year-over-year by 5% to EUR55mn at wholesale prices, in line with our forecast for a slowdown in sales growth in 2013. Growth in pharmaceutical spending in Estonia will continue to be held back as the Estonian government's policy of fiscal restraint continues. Estonia will continue to present a relatively limited market for pharmaceuticals despite having a positive business environment. Fiscal tightening has lead to pressure on the Estonian Health Insurance Fund to rein in pharmaceutical expenditure through pricing limits, generic prescribing and reference pricing mechanisms on reimbursed drugs. Whether or not a fiscally conservative policy in healthcare spending can survive Estonia's ageing population and the subsequent growth in demand for medicine is highly dependent on the unemployment levels and the raising of premiums by the health insurance fund. Thus, pharmaceutical sales in Estonia tend to emulate broader macroeconomic trends.
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