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Spain Pharmaceuticals and Healthcare Report Q2 2015

99 Pages BMI Research April 03, 2015 SKU: BMI5518751

BMI View: The Spanish economy has exited the crisis stage and will post relatively strong real GDPgrowth rates compared to most other major eurozone economies over the next few years. However, webelieve government spending will have a negligible impact on growth over the next few years, despiteausterity being rolled back. We hold a bearish outlook for the pharmaceutical market in Spain and forecastthat spending will continue its downward trajectory until 2018. The government's pro-generic drug stancewill continue to negatively impact prescription drug expenditure, creating challenges for innovative drugmakers operating in the country.

Headline Expenditure Projections

Pharmaceuticals: EUR23.02bn (USD30.85bn) in 2014 to EUR22.39bn (USD24.63bn) in 2015; -2.7% inlocal currency terms and -20.2% in US dollar terms.

Healthcare: EUR102.41bn (USD137.23bn) in 2014 to EUR103.34bn (USD113.67bn) in 2015; +0.9% inlocal currency terms and -17.2% in US dollar terms.

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Spain Pharmaceuticals and Healthcare Report Q2 2015

BMI Research
April 03, 2015

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