New Report Available: Slovakia Pharmaceuticals & Healthcare Report Q2 2016

Improving domestic economic outlook will provide a boost to healthcare expenditure in Slovakia in the short term. Over the longer term, we expect healthcare spending to accelerate , given Slovakia's ageing population and burden of chronic diseases. With public finances on a firmer footing and a centre-left government promising more generous social spending, multinational drugmakers and medical device companies can expect to see growth in revenues from Slovakia.

Headline Expenditure Projections

Pharmaceuticals: EUR1.91bn (USD2.10bn) in 2015 to EUR1.97bn (USD2.12bn) in 2016; +2.8% in local currency terms and +0.6% in US dollar terms. Forecast revised slightly downwards from last quarter.
Healthcare: EUR6.27bn (USD6.89bn) in 2015 to EUR6.45bn (USD6.94bn) in 2016; +2.9% in local currency terms and +0.7% in US dollar terms. Forecast revised slightly downwards from last quarter.

Full Report Details at
- http://www.fastmr.com/prod/1130995_slovakia_pharmaceuticals.aspx?afid=301

Risk/Reward Index

Slovakia's risk index indicates the country has one of the best business environments in the Central and Eastern European region, although its ranking is moderated by its less-than-impressive rewards score. Consequently, Slovakia has a Risk/Reward Index score of 57.9 out of 100, making it now the sixth-most attractive pharmaceutical market in Central and Eastern Europe, up from the eighth position in the last quarter.

Key Trends And Developments

Less than 5% of Slovakian citizens were vaccinated for influenza during the 2014/2015 flu season and this figure has stayed at approximately the same percentage for the last three seasons, which is down from 12.8% after the 2008/2009 season, reported the Office of Public Health Care. In 2014/2015, deaths from severe acute respiratory syndrome increased five times to 25 patients compared with the previous season.

Around 1,000 nurses in Slovakia handed in their notices before December 1, amid an ongoing fight for better salaries and working conditions. The move came after the ministry reportedly did not include their demands into the law on salary conditions of healthcare employees adopted by parliament in late November 2015.

The dispute continued with the Slovak Chamber of Nurses and Midwives stating that nurses demand their experience in the healthcare sector to be considered in the calculation of pay, as well as their basic salary to be raised every three years of practice. To meet these demands, the Health Ministry would have to allocate about EUR200mn (USD219.5mn) a year; however, the ministry has allocated only EUR55mn (USD60.4mn) for this purpose.

BMI Economic View

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