Recently published research from Business Monitor International, "Bulgaria Pharmaceuticals & Healthcare Report Q1 2015", is now available at Fast Market Research

Boston, MA -- (SBWire) -- 12/03/2014 --Large order increases from within the hospital sector and robust consumer demand will spur pharmaceutical sales growth in 2014 and 2015. However, external slowdown will begin to impact the Bulgarian market from 2015 onwards. Bulgaria's healthcare system will continue to face issues around its funding.

Headline Expenditure Projections

- Pharmaceuticals: BGN2.32bn (USD1.58bn) in 2013 to BGN2.44bn (USD1.67bn) in 2014; +5.0% in local currency terms and 5.7% in US dollar terms. US dollar forecast revised upward due to expectations of lev appreciation.
- Healthcare: BGN5.89bn (USD4.00bn) in 2013 to BGN6.06bn (USD4.14bn) in 2014; +2.8% in local currency terms and +3.5% 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 Q115, Bulgaria's Risks and Rewards scores stand above the regional average at 52.6. 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

- Public procurement procedures launched by former Health Minister Tanya Andreeva will be halted, her interim successor Miroslav Nenkov has ruled. The procedures were worth BGN30mn (USD20.36mn) to the country's healthcare sector. The procurement procedures will be frozen due to several flaws, including the tenders expected, stated Nenkov. However, the ministry also stated that it will not abandon the procedures, but will consider how to resolve problematic aspects of them.
- Drugmakers raised prices of 112 popular OTC drugs by 4-5% after a moratorium on price ceilings ended in September.
- The outgoing Bulgarian parliament voted on July 29 for a widening of the 2014 fiscal deficit target and raising of BGN3.4bn (USD2.33bn) in new debt, thereby providing the next government some...

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