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The Pharmaceutical Market: UK
Management Report
Published: January 2010
Pages: 112
Tables: For full details, please email keithw@cmsinfo.com
From: GBP 595.00 Buy Now!
Research from: Espicom
Sector: Prescription Medicines
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. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
The UK pharmaceutical market is set to experience moderate growth over the coming years, tempered slightly by the effects of the economic recession. Public spending cuts are likely, as public debt continues to increase, and health expenditure is set to suffer as a result. In 2010 the NHS budget is £102.3 billion, but this could fall by 2.5 to 3.0 per cent per annum from 2011/12. This follows a period of huge growth in health spending under the Labour government, which has seen the NHS budget almost triple.
However, the NHS is well equipped to deal with the financial shortage, as it has seen marked improvements in recent years. Payment by Results represents a dramatic change in how the NHS is financed and is key to the government’s healthcare modernisation plans. The Payment by Results scheme, combined with Patient Choice, effectively means that hospitals are competing for patients, and while this offers the opportunity to drive up standards of healthcare, it also creates an unprecedented level of financial risk for Primary Care Trusts and NHS hospitals.
The private sector accounts for just a small proportion of overall healthcare provision, but has recently seen a rise in NHS contracts. In an effort to reduce waiting lists, the government is contracting private organisations to operate and manage independent treatment centres. In addition, as part of the Patient Choice scheme, NHS patients can now choose to have a minor operation in a private hospital and over 3,500 patients a month opt to be treated in the private sector. In addition, the government has revealed plans to make Primary Care Trusts pay for patients to receive private care if hospitals fail to meet the 18-week referral to treatment target.
The UK is one of the leading pharmaceutical producers and exporters. It is home to two of the sector’s largest companies; GlaxoSmithKline and AstraZeneca. Behind these, there are a large number of smaller companies specialising in R&D and biotech products. Many pharmaceutical companies have announced job cuts worldwide in recent months, in an effort to reduce costs, and many staff based in the UK are likely to be affected. These companies include Eli Lilly, GlaxoSmithKline, AstraZeneca and Pfizer. Job cuts are to be expected considering the economic climate, as well as upcoming challenges for these companies, including patent expiries, increased generic competition and slowing innovation.
A number of key pharmaceutical and biologic products are going off patent in the coming years, which will strengthen the generics market. Despite budget constraints, increasing pressure on the NHS to cope with the health needs of an ageing population will lead to a rise in demand for pharmaceuticals, and a willingness to invest in new therapies to ensure effective treatments.
However, the NHS is well equipped to deal with the financial shortage, as it has seen marked improvements in recent years. Payment by Results represents a dramatic change in how the NHS is financed and is key to the government’s healthcare modernisation plans. The Payment by Results scheme, combined with Patient Choice, effectively means that hospitals are competing for patients, and while this offers the opportunity to drive up standards of healthcare, it also creates an unprecedented level of financial risk for Primary Care Trusts and NHS hospitals.
The private sector accounts for just a small proportion of overall healthcare provision, but has recently seen a rise in NHS contracts. In an effort to reduce waiting lists, the government is contracting private organisations to operate and manage independent treatment centres. In addition, as part of the Patient Choice scheme, NHS patients can now choose to have a minor operation in a private hospital and over 3,500 patients a month opt to be treated in the private sector. In addition, the government has revealed plans to make Primary Care Trusts pay for patients to receive private care if hospitals fail to meet the 18-week referral to treatment target.
The UK is one of the leading pharmaceutical producers and exporters. It is home to two of the sector’s largest companies; GlaxoSmithKline and AstraZeneca. Behind these, there are a large number of smaller companies specialising in R&D and biotech products. Many pharmaceutical companies have announced job cuts worldwide in recent months, in an effort to reduce costs, and many staff based in the UK are likely to be affected. These companies include Eli Lilly, GlaxoSmithKline, AstraZeneca and Pfizer. Job cuts are to be expected considering the economic climate, as well as upcoming challenges for these companies, including patent expiries, increased generic competition and slowing innovation.
A number of key pharmaceutical and biologic products are going off patent in the coming years, which will strengthen the generics market. Despite budget constraints, increasing pressure on the NHS to cope with the health needs of an ageing population will lead to a rise in demand for pharmaceuticals, and a willingness to invest in new therapies to ensure effective treatments.