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Lithuania Pharmaceuticals and Healthcare Report Q2 2008Published by: Business Monitor International Published: May. 21, 2008 - 56 Pages Table of Contents
AbstractWhile larger than its Baltic counterparts in terms of value, the Lithuanian pharmaceutical market remains one of the smallest in the Central and Eastern European (CEE) region. Despite strong recent growth -14% year-on-year (y-o-y) for the three months February through to April 2007, according to distributor Tamro - funding pressures and out-of-pocket spending on drugs, limited by patient purchasing power leads BMI to forecasts for the coming five years annual growth at single-digit figures. Market growth is also contingent on the country’s fractious parliament and current weak government managing to steward the fast-growing economy, or fresh elections yielding more workable arrangements before the next round of scheduled parliament polls in October 2008.In the meantime, the country’s creaking public services - in particular healthcare - require urgent attention, despite the attempts of successive governments to develop a modern primary sector, with doctors providing a gatekeeper function to specialists. While the President appears committed to reducing corruption, power struggles and appeals to populism are blamed for preventing movement on badly needed economic and social reforms. However, although the fractious political scene threatens to derail the much-needed reforms, the new multiparty governing coalition has put forward a platform based on investment in social services. In the adjusted BMI‘s Business Environment Rankings for the 16 major CEE markets, Lithuania is once again ranked joint twelfth, alongside Croatia. While Lithuania’s strong economic growth and surging levels of consumer spending are stimulating pharmaceutical market growth, economic and political risks remain a cause for concern. The fact that the country’s drug-manufacturing sector is small and export oriented illustrates limited long-term market potential for foreign-made products. Nevertheless, imports will continue to provide the bulk of patented medicines, the demand for which is rising with healthcare modernisation and improvement of patient awareness. In February 2008, police opened an investigation into the potential health hazards of a psychoactive herb- Salvia divinorum - sold on the internet in Lithuania. Law enforcement agencies are aiming to assess its sale through such channels, with a view to banning it. The usage of the herb, which originates in Mexico, is not regulated by EU authorities. The issue also highlights the problems facing cross-border trade in pharmaceuticals and herbal medicines in the face of expanding use of internet and other sales channels. Get Full Details About This Report >> |
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