New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/26/2012 -- BMI View: We retain our broadly pessimistic outlook for the UK's pharmaceutical market over the five years to 2016, although the emphasis on cost containment will serve to boost the performance of the generic drug sector. A difficult economic situation will also prioritise economically priced items in the over-the-counter (OTC) arena, thus boosting the sale of 'private label' painkillers and similar medicines available for sale through non-pharmacy channels. In the meantime, the government will push ahead with its controversial National Health Service (NHS) Health and Social Care Bill, which has been criticised as signalling a start of NHS privatisation.
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Headline Expenditure Projections
- Pharmaceuticals: GBP23.81bn (US$38.33bn) in 2011 to GBP23.74bn (US$37.27bn) in 2012; -0.3% in local currency terms and -2.8% in US dollar terms. Local currency forecast broadly unchanged.
- Healthcare: GBP144.79bn (US$232.99bn) in 2011 to GBP149.35bn (US$234.48bn) in 2012; +3.2% in local currency terms and -0.6% in US dollar terms. Local forecast unchanged from Q312, despite the use of new historical data.
- Medical devices: GBP5.89bn (US$9.48nn) in 2011 to GBP5.93bn (US$9.30bn) in 2012; +0.6% in local currency terms and -1.9% in US dollar terms. Forecast down from Q312, on account of new historical data.
Risk/Reward Rating: The UK is again ranked second out of the 10 Western European markets surveyed. While the country's risk profile is among the best globally, cost containment and patent expirations will hamper faster growth in pharmaceutical market values. Nevertheless, the market is well developed and regulated and the government is making efforts to boost the healthcare and life sciences sectors - meaning the UK will continue to be one of the most important targets for multinationals.
Key Trends And Developments
- In August 2012, the House of Lords Science and Technology Committee in the UK launched an inquiry to investigate potential barriers to innovation in the field of regenerative medicine. The inquiry, under the chairmanship of Lord Krebs, will address the nation's expertise in regenerative medicine, applications of regenerative science to medical treatments, the regulatory and financial barriers to translation and commercialisation of the findings of this research and international comparisons. Regenerative medicine, which comprises methods and techniques to replace or regenerate human cells, tissues or organs to restore or establish their normal function, has been dubbed as a potential growth driver in the pharmaceutical industry.
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