Countries covered: Hungary
Espicom’s in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Please note:This file is delivered as a Zip file.
Additional Information
Hungary is a landlocked country in central Europe. The population stands at 9.9 million in 2009, of whom 15.8% are aged 65 or over. Hungary is one of the ten countries that joined the EU in May 2004. EU Directives have been transposed into national legislation; Directive 2004/27/EC was implemented in November 2005.
Funding for healthcare in Hungary is managed by the National Health Insurance Fund Administration (NHIFA), which runs the only health insurance fund in the country. In February 2008, a new bill on health insurance was signed into law, which enabled private companies to buy shares in 22 new health funds. However, the legislation was repealed in May 2008 and the health funds are to be phased out.
Sources of funding for pharmaceuticals include the pharmaceutical industry itself as drug companies have been forced to contribute part of their turnover to the Health Insurance Fund, in order to cover government overspending. The Pharma Economic Act, which came into force in January 2007, successfully prevented the drugs budget from running into deficit for the first time in over a decade.
Manufacturers have reported loss of profits since the enforcement of the Pharma Economic Act. Reduced reimbursement rates and price cuts saw net profits of the leading domestic producer, Gedeon Richter, fall by 28.4% in 2007. Egis’ net income dropped by 50.6%. Tax implications and changes to the reimbursement system have discouraged investment in the country and have forced companies to look for opportunities elsewhere; Gedeon Richter is expanding its business in Poland and Russia, for instance.
In 2009, the Hungarian market for pharmaceuticals was estimated at US$3,189 million, equal to US$322 per capita. It is expected that the pharmaceutical market will continue to expand at a rate of 8.7% per annum, reaching US$4,846 million, or US$495 per capita by 2014.
Around 65% of the pharmaceutical market is supplied by imports. France, Germany and Switzerland were the leading suppliers in 2007, accounting for over 55% of imports. The value of imports has increased every year since 2001. Related Reports:
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