Portugal Pharmaceuticals and Healthcare Report Q4 2017
Portugal's pharmaceutical market will expand modestly over the forecast period, observing a slightly improved growth trend relative to the previous five years. Although the improved economic outlook should, in principle, generate commercial opportunities for drugmakers and healthcare providers, public hospitals' debt will continue to translate into high risks of payment delays to pharmaceutical companies operating in the country. In fact, industry risks will deter investment in the pharmaceutical sector in the near term, limiting the modest competitive gains from piecemeal economic reforms and internal devaluation.
Headline Expenditure Projections
Pharmaceuticals: EUR3.60bn (USD3.98bn) in 2016 to EUR3.63bn (USD3.99bn) in 2017; +0.9% in local currency and +0.3% in US dollar terms. Forecast revised upwards from last quarter.
Healthcare: EUR17.03bn (USD18.84bn) in 2016 to EUR17.47bn (USD19.21bn) in 2017; +2.6% in local currency and +2.0% in US dollar terms. Forecast revised upwards from last quarter.
In August 2017, Prime Minister António Costa promised an increase in spending on health and education in the state budget for 2018.