"Croatia Pharmaceuticals & Healthcare Report Q2 2015" is now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Tue Feb 03 2015

We expect the newfound independence of the national health insurer (HZZO) to have negative consequences for the pharmaceutical sector, as it will use its purchasing power to extract price cuts from drugmakers. With Croatia's economy set to stagnate, containing costs will be a priority for the health insurer. We therefore expect growth to remain depressed over the short term.

Headline Expenditure Projections

* Pharmaceuticals: HRK6.64bn (USD1.09bn) in 2013 to HRK6.37bn (USD1.03bn) in 2015; -4.0% in local currency and -4.7% in US dollar terms. Forecast revised downwards from Q115.
* Healthcare: HRK22.40bn (USD3.67bn) in 2014 to HRK21.47bn (USD3.49bn) in 2014; -4.3% in local currency and -5.0% in US dollar terms. Forecast revised down from Q115.

Risk/Reward Index

Despite its accession to the EU, Croatia offers only moderate growth over the long term. Croatia has a RRI score of 49.7 out of 100, making it the 14th most attractive pharmaceutical market in Central and Eastern Europe. Croatia scores below the regional average score of 51.1 in Q215, highlighting its risk-reward balance is in line with the region as a whole. Croatia scores (19.1) below the regional average for Industry Risks (19.7), with bureaucracy and transparency cited as key business concerns that have dragged its risk score down. In the category of Rewards, Croatia's score (30.6) is below average (31.5), highlighting the limited growth outlook for pharmaceuticals and the small overall size of the Croatian market.

Full Report Details at
- http://www.fastmr.com/prod/951936_croatia_pharmaceuticals_healthcare_report_q2_2015.aspx?afid=301

Key Trends And Developments

* From January 1 2015, the HZZO gained financial independence with its funding separated from the treasury. The HZZO will now purchase healthcare services and procure pharmaceuticals on its own terms.
* In January 2015, the Croatian healthcare system was granted EUR250mn (USD290mn) in European Commission funding to be used to upgrade its infrastructure.
* Domestic drugmaker Jadran Galenski Laboratorij (JGL) announced in December 2014 that it...

The Croatia Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Croatia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Croatia pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's pharmaceutical and healthcare market forecasts for Croatia, to test other views - a key input for successful budgeting and strategic business planning in the Croatian pharmaceutical and healthcare market.

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