Fast Market Research recommends "Poland Pharmaceuticals & Healthcare Report Q4 2013" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 09/27/2013 --BMI View: Plans to roll over reserves from pharmaceutical expenditure to cover NFZ deficits are not longterm solutions to the chronic underfunding of the Polish healthcare system. While the NFZ has made savings on medicine reimbursements, it is Polish patients who have borne the cost of those spending cuts. With Polish citizens already spending a significant proportion of their income on healthcare, we believe that provisions for private health insurance to bridge gaps in coverage should be rolled out rapidly.

Headline Expenditure Projections

- Pharmaceuticals: PLN31.37bn (US$9.64bn) in 2012 to PLN31.76bn (US$10.06bn) in 2013; 1.3% in local currency terms and 4.3% in US dollar terms.
- Healthcare: PLN108.74bn (US$33.43bn) in 2012 to PLN110.10bn (US$34.87bn) in 2013; +1.3% in local currency terms and 4.3% in US dollar terms.

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Risk/Reward Rating

Poland has a RRR score of 61.5 out of 100, making it the second most attractive pharmaceutical market in Central and Eastern Europe.

Key Trends And Developments

In July 2013, Poland's National Chamber of Medical Devices (POLMED) stated that the low use of medical equipment bought by public hospitals does not mean that that the country's medical sector has surplus equipment, reports PMR. A report published by Poland's Supreme Audit Office revealed the low use of medical devices. However, the country has only 13.5 CT systems and 4.8 MRI scanners per one million people. This number contrasts poorly with 23.2 CT systems and 13.3 MRI scanners held by the member countries of the Organisation for Economic Co-operation and Development.

In June 2013, the Polish health ministry announced that a draft for enabling supplementary health insurance will be tabled by end 2013. Currently, supplementary health insurance is offered to 2.5mn people and the ministry wants to increase the number to 8-10mn, according to Deputy Health Minister Slawomir Neumann. The health ministry is getting in touch with companies and patient organisations interested in supplementary health insurance.

BMI Economic View: While recent financial market conditions have prompted central banks across Emerging Europe to reassess their policy stance, economic data in Poland suggests to us that there is still room for a further cut in interest rates, bringing the benchmark rate down to 2.50% before end-2013. However, heavy inflows of foreign capital into Poland over the last five years, large non-resident holdings of domestic debt, one of the lowest benchmark rates in the region and high levels of liquidity leave the zloty vulnerable to weakness, which could prompt the central bank to adopt a more hawkish stance.

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