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Poland & Turkey Pharmaceutical Market worth $15 billion & $21.5 billion Respectively by 2020
RnRMarketResearch.com adds "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Poland" & "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Turkey" to its store.
|By PR Newswire
|August 28, 2014 01:11 PM EDT
DALLAS, Aug. 28, 2014 /PRNewswire-iReach/ -- CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Poland
(Photo - http://photos.prnewswire.com/prnh/20140828/140879)
The report "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape Poland" an essential source of information and analysis, identifies key trends in the healthcare market and provides insights into the demographic, regulatory, reimbursement landscapes and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical and medical device markets.
The pharmaceutical industry plays a key role in Poland's healthcare system and economy. It was valued at $8.6 billion in 2013 and is projected to reach $15 billion in 2020 at a Compound Annual Growth Rate (CAGR) of 8.3% (AESGP, 2014). The pharmaceutical market had decreased from $8.8 billion in 2011 to $7.1 billion in 2012 due to the implementation of the new Reimbursement Act by Poland government in 2012, but has since partially recovered. According to the new act, the prices of the reimbursed drugs were decreased and the profit margins for wholesalers and retailers were also reduced, which impacted the pharmaceutical market negatively. The highest mark-up possible for reimbursed medicines was reduced from 9.78% in 2011 to 7% in 2012 and then to 6% in 2013. The VAT on pharmaceuticals and medical devices was 8% (ISPOR, 2013; EC, 2014). In 2013, the pharmaceutical market recovered and reached $8.6 billion due to an increase in demand for and consumption of pharmaceuticals (ISPOR, 2013).
This positive trend can be attributed primarily to the following factors -
- Government initiatives and support from the EU to improve healthcare services
- An improved and updated regulatory environment
Order a Purchase Copy "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Poland" @ http://www.rnrmarketresearch.com/contacts/purchase?rname=205530 .
Profiles and SWOT analyses for the major players in the pharmaceutical market:
- F. Hoffmann-La Roche
Profiles and SWOT analyses for the major players in the medical device market:
- F. Hoffmann-La Roche
- Medtronic, Essilor International, Abbott Laboratories and Siemens Healthcare)
The cap on the reimbursement budget for drugs was decreased from 21% in 2010 to 17% in 2011 of the National Health Fund (Narodowy Fundusz Zdrowia, NFZ), so patients now have to pay more for their treatment. The NFZ administers funding and contracts providers to provide healthcare services, both for prophylaxis and therapy. The majority of resources are allotted to in-patient treatment, followed by reimbursement of medications, out-patient general care and specialized out-patient care. The value of the NFZ's total drugs reimbursement decreased from PLN8.8 billion ($3 billion) in 2011 to PLN6.9 billion ($2.1 billion) in 2012. The decrease in the reimbursement budget would negatively affect the overall pharmaceutical market.
CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Turkey
Turkey's population stood at approximately 76.7 million in 2013, having grown at a Compound Annual Growth Rate (CAGR) of 1.4%, from 2008. The implementation of the Health Transformation Program (Saglikta Donus, um Programi, HTP) resulted in social security reforms that were aimed at improving the universal health coverage. The available infrastructure for healthcare industries and the high number of healthcare institutions makes Turkey an attractive location for the manufacture and marketing of pharmaceutical products.
The government is trying to increase pharmaceutical R&D in Turkey, and in 2012, it introduced a new investment incentives program that had four basic schemes to increase foreign investment. The pharmaceutical market was worth approximately $12.5 billion, in 2012, and was the sixth-largest pharmaceutical market in Europe. It is set to grow at a CAGR of 7.3% from 2008 to reach $21.5 billion in 2020. The medical device market was valued at approximately $1.9 billion in 2008 and is estimated to grow at a CAGR of 4.7% to reach an estimated $3.3 billion in 2020. These positive growth trends can be primarily attributed to -
- An increasing elderly population
- Universal health coverage
- Government initiatives
Order a Purchase Copy of "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Turkey" @ http://www.rnrmarketresearch.com/contacts/purchase?rname=201451 .
Profiles and SWOT analyses of the major players in the pharmaceutical market:
- Abdi Ibrahim
Profiles and SWOT analyses of the major players in the medical device market:
- Siemens Healthcare
- F. Hoffmann-La Roche
- Essilor International
- GE healthcare, and Fresenius Medical Care
Reasons to buy
This report will enhance your decision-making capability by allowing you to -
- Develop business strategies by understanding the trends shaping and driving Poland & Turkey's healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to affect Poland & Turkey's healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of various competitors
- Organize your sales and marketing efforts by identifying the market categories and segments that present the best opportunities for consolidation, investment, and strategic partnerships
- Identify, understand, and capitalize on the opportunities and challenges in Poland & Turkey's healthcare market
Explore more reports on Healthcare industry at http://www.rnrmarketresearch.com/reports/life-sciences/healthcare .
RnRMarketResearch.com is an online database of market research reports offer in-depth analysis of over 5000 market segments. The library has syndicated reports by leading market research publishers across the globe and also offer customized market research reports for multiple industries.
Media Contact: Ritesh Tiwari, RnRMarketResearch, +18883915441, [email protected]
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