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Latvia Pharmaceuticals and Healthcare Report Q1 2017

  • November 2016
  • -
  • Business Monitor International
  • -
  • 74 pages

Includes 3 FREE quarterly updates

BMI View:
Latvia's pharmaceutical and healthcare markets will be shaped by the country's ongoing fiscal austerity measures. Already severely underfunded, the healthcare sector is facing additional cuts which are proving highly unpopular with the public. Conversely, the pharmaceutical sector will experience significant growth in 2016, due to price increases rather than rising consumption. This will likely result in increased cost-containment initiatives, repressing patented medicine growth in the longer term.

Headline Expenditure Projections


- Pharmaceuticals: EUR425mn (USD471mn) in 2015 to EUR466mn (USD499mn) in 2016; +9.6% in local currency terms and 5.8% in US dollar terms. Forecast unchanged from previous quarter.

- Healthcare: EUR1.03n (USD1.14bn) in 2015 to EUR1.07bn (USD1.15bn) in 2016; +4.3% in local currency terms and 0.7% in US dollar terms. Forecast unchanged from previous quarter. In BMI's Q117 Pharmaceutical Risk/Reward Index (RRI), Latvia has jumped up in the rankings in the Central and Eastern Europe matrix, from 13th to 7th out of 21 markets. This follows a significant increase in its score, moving up to 56.2 from 50.6 in Q416, which compares favourably with the regional average (51.1). The increase in Latvia's RRI score is due to medicine price rises in the patented medicine sector, boosting the country's growth outlook. However, the market retains some challenges, most notably from the small absolute size of the market. Consequently, direct multinational operations are limited and domestic companies, such as Grindeks, have looked abroad for growth opportunities.

Table Of Contents

Latvia Pharmaceuticals and Healthcare Report Q1 2017
BMI Industry View 7
Table: Headline Pharmaceuticals and Healthcare Forecasts (Latvia 2014-2020) 7
SWOT 9
Industry Forecast 11
Pharmaceutical Market Forecast 11
Table: Pharmaceutical Sales, Historical Data And Forecasts (Latvia 2012-2020) 13
Healthcare Market Forecast 14
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020) 16
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020) 16
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020) 16
Prescription Drug Market Forecast 17
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 19
Patented Drug Market Forecast 20
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 21
Generic Drug Market Forecast 22
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 23
OTC Drug Market Forecast 24
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 25
Pharmaceutical Trade Forecast 26
Table: Pharmaceutical Trade Data And Forecasts (Latvia 2014-2020) 27
Table: Pharmaceutical Trade Data And Forecasts local currency (Latvia 2014-2020) 27
Pharmaceuticals and Healthcare Risk/Reward Index 28
Central And Eastern Europe Risk/Reward Index - Q1 2017 28
Latvia Risk/Reward Index 35
Rewards 35
Risks 36
Regulatory Review 37
Intellectual Property Issues 39
Pricing Regime 40
Reimbursement Regime 41
Market Overview 43
Healthcare Sector 44
Table: Healthcare Resources (Latvia 2010-2015) 45
Table: Healthcare Personnel (Latvia 2010-2015) 46
Table: Healthcare Activity (Latvia 2010-2015) 46
Research and Development 47
Clinical Trials 47
Epidemiology 49
Competitive Landscape 52
Research-Based Industry 52
Table: Multinational Market Activity 53
Generic Drugmakers 54
Pharmaceutical Distribution 54
Pharmaceutical Retail Sector 55
Company Profile 57
Grindeks 57
Olainfarm 60
Demographic Forecast 63
Table: Population Headline Indicators (Latvia 1990-2025) 64
Table: Key Population Ratios (Latvia 1990-2025) 64
Table: Urban/Rural Population and Life Expectancy (Latvia 1990-2025) 65
Table: Population By Age Group (Latvia 1990-2025) 65
Table: Population By Age Group % (Latvia 1990-2025) 66
Glossary 68
Methodology 70
Pharmaceutical Expenditure Forecast Model 70
Healthcare Expenditure Forecast Model 70
Notes On Methodology 71
Risk/Reward Index Methodology 72
Index Overview 73
Table: Pharmaceutical Risk/Reward Index Indicators 73
Indicator Weightings 74

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