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Belgium Pharmaceuticals and Healthcare Report Q3 2008Published by: Business Monitor International Published: Sep. 15, 2008 - 66 Pages Table of Contents
AbstractBelgium’s pharmaceutical market was worth EUR4.08bn (US$5.6) in 2007 and BMI expects steady, ifunspectacular growth over the forecast period to 2012. Generics remain the area of major growthpotential for the market.2008 has been relatively quiet in terms of changes in the market environment. Cost containment remains apriority for the Belgian government with a focus on promoting generic prescribing. Over 40% ofprescriptions for reimbursed medicines were for low cost pharmaceuticals in 2007, with 23.54% of thetotal being generics and 16.69% off-patent originator drugs. Nevertheless the country’s reputation forgiving its citizens access to innovative therapies stand strong, with 26 new chemical entities (NCEs)having been added to the reimbursement list in late 2007. Despite having access to these modern treatments, BMI’s Burden of Disease Databse (BoDD) hashighlighted the impact disease has on the country’s population. Belgium high number of disabilityadjustedlife years (DALYs) lost per capita due to disease makes the country one of the most burdened inWestern Europe, ranking 18th. Despite the per capita disease burden reducing significantly by 2030,Belgium is forecasted to remain in equal position in Western Europe. The burden of HIV/AIDS willrepresent one of the biggest increases in DALYs by 2030, increasing by 65%. Alzheimers and otherdementias will also play an increasing burden in line with an ageing population. Meanwhile, the burdenof cancer, cardiovascular disease and neuropsychiatric conditions, the countries top three burdens will fallsignificantly with improved treatment and disease management. Belgium’s fiscal environment has become more favourable for pharmaceutical companies after the ECfinally authorised planned tax exemptions that had been originally devised in 2005. The total reductionsshould amount to EUR47mn (US$70mn) a year. Company-wise, local drugmaker Solvay made a conditional tender offer for fellow domestic playerInnogenetics in April. In the same month US ophthalmic firm Bausch & Lomb (B&L) announced astrategic research collaboration with Belgian drug discovery company Galapagos NV. Over-the counter(OTC) specialist Omega Pharma posted disappointing financial results in the Belgian market for 2007,however, stronger performance abroad meant the company was still able to increase its global sales by8%. Get Full Details About This Report >> |
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