Country Industry Forecast - Economic Analysis for the United Kingdom Healthcare Industry

Research Overview

After tourism and finance, healthcare is the most lucrative economic activity in the United Kingdom. The UK Government actively supports the growth of this industry by offering fiscal incentives and drafting investor-friendly policies that attract both domestic and foreign investors. The trade in pharmaceutical products has been profitable for the United Kingdom. Around 18 drugs of the world’s top 100 prescription drugs and nearly one in five best-selling drugs have been developed in the country. Many top pharmaceutical companies already have their major R&D center here in this country.

The U.K. government encourages production of generic drugs in the country by offering incentives to pharmacists and doctors for prescribing them. The over the counter (OTC) drugs market has experienced significant, though erratic growth in the last couple of years. The government’s aim to reduce healthcare costs is expected to result in the movement of an increasing number of prescription drugs to OTC status, thus giving a boost to this sub segment. The country encourages clinical trials through various tax incentives and favorable investment policies. However, low cost countries, such as India and China pose threats to the U.K. clinical trial market. The U.K. government has promised to increase R&D funding from the current 1.9 percent to 2.5 percent of the gross domestic product (GDP) by 2010. In addition, the country is making tremendous efforts to modernize the healthcare system in order to enhance the delivery of healthcare services and curb the rising healthcare cost. The reviving economy in the country is likely to increase investment, improve trade in pharmaceutical products and increase people’s purchasing power in the forecast period.

Frost & Sullivan’s Healthcare Country Industry Forecast service provides vital inputs for evaluating the attractiveness of a country and its healthcare industry. Besides enabling decision makers to assess the impact of non-market forces, it also helps identify new market opportunities. This service provides a strong base for preparing contingency plans. In addition, investors can assess industry-specific risk factors as well as conduct in-depth micro research.

Benefits of this Service

Identify New Market Opportunities

The future trends of the economic environment of the United Kingdom have been analyzed along with their impact on the healthcare industry. This analysis will provide valuable information to participants on opportunities in specific segments of the industry.

Understand Future Industry Trends

The research service gives an insight into the U.K. healthcare industry’s exports and import trends. This will enable industry participants to gauge the future direction of the market, enabling them to devise appropriate market strategies to improve market share.

Understand Policy and Regulatory Environment

A detailed analysis of the policy and regulatory framework of the U.K. healthcare industry will provide insights into the regulatory environment, as it exists, and its future.

Evaluate Industry Segment Potential

This research service offers detailed coverage of economic issues affecting the industry and their future direction. It provides country and industry trends with forecasts for major variables and is an excellent tool for companies that plan to enter new geographic markets. This will help corporate planners in developing accurate business plans and enhancing credibility to planning company resources.