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Czech Republic Pharmaceuticals and Healthcare Report Q2 2008Published by: Business Monitor International Published: May. 19, 2008 - 63 Pages Table of Contents
AbstractGrowth in the Czech drug market is beginning to fall away but should remain impressive over the forecast period, comfortably outpacing the more mature markets in Western Europe. In 2007, drug expenditure expanded by 7.5% to reach US$3.11bn but by 2012 annual growth is expected to have slipped under 7%, while the total market value should be US$4.33bn. Growth in the OTC sector should be marginally higher than for prescription drugs, while generics should expand at a quicker rate than patented drugs, driven by the government’s new cost containment measures.In January 2008, the new prescription charges, whereby adults pay a mandatory fee of CZK30 (US$1.46)for each medicine pack, came into force. The charge is designed to discourage patients stockpiling medicines, which had been a common practice and costs the state billions of korunas a year. However, pharmacies claim that they are not profiting from the reforms, which is putting the system in jeopardy. Although they are allowed to keep the prescription fees, they also have to offer significant discounts in order to take the burden of cost off the consumer. Meanwhile, Health Minister Thomas Julínek has claimed that an extra CZK13bn (US$723mn) will be spent on medical treatment in 2008 as a result of improved efficiency in the insurance sector and the introduction of the co-payments scheme, which also extends to doctors and hospital visits. When Julínek became health minister in September 2006, he placed great emphasis on reform in the insurance sector. According to Julínek, health insurers are now learning how to purchase better care for patients at lower costs. The savings are subsequently being used to improve quality of care or increase patient volume. In terms of the Business Environment Rankings, little has changed in the Czech Republic, although BMI has marginally upgraded the score for country risk. However, excessive bureaucracy, as is common in many ex-Soviet bloc states, continues to be a real problem. The Czech Republic remains in second place in the regional rankings, although the fiscally conservative administration is beginning to restrict health spending as it seeks to reduce the budget deficit and smooth the country’s way into the euro. Get Full Details About This Report >> |
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