New Healthcare market report from Business Monitor International: "Moldova Pharmaceuticals & Healthcare Report Q1 2014"
Boston, MA -- (SBWIRE) -- 01/07/2014 -- Moldova's economy has gone from strength to strength in 2013 following a terrible 2012 and this return to growth bodes well for the pharmaceuticals and healthcare market. Politicians have their eyes firmly set on Europe, with the biannual Eastern Partnership meeting in late November 2013 likely to see Moldova sign a draft trade agreement that will bring it one step closer to the EU. In the domestic market, much of the sector's development is facilitated by international cooperation agreements, such as with Estonia and the WHO. Other challenges include the growing burden of non-communicable diseases and the loss of healthcare personnel to other countries.
Headline Expenditure Projections
- Pharmaceuticals: MDL2.59bn (US$214mn) in 2012 to MDL2.73bn (US$214mn) in 2013; +5.6% in local currency terms and +0.2% in US dollar terms. Forecast unchanged from Q413.
- Healthcare: MDL9.62bn (US$795mn) in 2012 to MDL10.43bn (US$818mn) in 2013; +8.5% in local currency terms and +3.0% in US dollar terms. Forecast increased slightly from Q413 because of improved economic conditions.
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Risk/Reward Rating: Moldova sits in penultimate place in our Q114 Pharmaceutical Risk/Reward Ratings for Central and Eastern Europe (CEE). Ranking 19th out of a total of 20 markets, Moldova performs poorly in terms of both Risks and Rewards, posting a score of 39.5.
Key Trends And Developments
- Estonia's Ministry of Foreign Affairs considers Moldova to be a Priority Partner Country to its development cooperation strategy. Estonia will have collaborated with Moldova on three health-related projects in 2013: the launch of a phone-based health service; supporting the development of the health insurance system; and conducting a feasibility study regarding the implementation of an e-service for general practioners. - In October 2013, supported by the WHO and the EU, Moldova launched a campaign to encourage national healthcare professionals to stay in the country. - In an attempt to raise awareness of breast cancer, one shopping centre in Moldova's capital city offered free mammograms during the same month.
BMI Economic View: Moldova's economy is making a strong recovery from the recession that affected the country in late 2012. Data for the first half of 2013 show domestic demand is climbing and the agricultural sector is recovering. As such, we have raised our real GDP growth forecast for 2013 to 4.8%.
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