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The Pharmaceutical Market: Germany
Management Report
Published: January 2010
Pages: 70
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.
Espicom's highly regarded world pharmaceutical market reports have been redesigned to provide enhanced strategic intelligence in a user-friendly format. Each report provides in-depth information, setting the pharmaceutical market in context. The reports provide:
Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
GERMANY - MARKET REVIEW
Germany's economy depends heavily on exports and was therefore hit hard by the global downturn. However, according to the Economist Intelligence Unit, the economy showed early signs of recovery in 2009, growing by 0.4% in the second quarter and by a further 0.7% in the third quarter. GDP is expected to grow by 1.0% in 2010 and by an average 1.8% per annum between 2010 and 2015. Working on its policies, the new coalition has stated that its main goal is to deal with the consequences of the global economic crisis. Tax cuts have been planned in order to stimulate growth, but critics have warned that the country could build a huge debt if the government does not reduce spending concurrently.
Germany is one of the heaviest alcohol-drinking nations in Europe as it is more socially acceptable to drink during the day and in public than in countries such as the USA. There is also a strong tradition of beer making/drinking and the price of alcohol is very low. However, the government has launched campaigns in order to increase awareness of the dangers of excessive alcohol consumption and to discourage younger people from binge drinking. Obesity is also a problem, with three quarters of men and over half of women classed as overweight; the cost of treating cardiovascular diseases, diabetes, cancer and depression, which arise from being overweight, places a major burden on the German state budget. Although the government has allocated millions of euros towards combating obesity, it will take time for national programmes to yield the desired results.
The German pharmaceutical market is twice the size of Italy; in per capita terms, it is similar to Austria. Growth in recent years has tended to be uneven, as government reforms take effect on pricing and/or reimbursement. For the market as a whole, the projected CAGR for 2010-2015 in US dollar terms is 4.8%. For prescription drugs, the CAGR is 3.9%. Growth will be fastest in the specialist hospital market, which naturally uses the newest and most expensive products. The OTC market will continue to fall gradually due to increasing price competition. While overall expenditure is still growing, GKV expenditure, which accounts for around 80% of the market, is characterised by price reductions. These are due to tighter reimbursement rules, greater use of generics and downward pressure on generic prices due to the rebate system.
Reimbursement changes and greater use of substitution since 2004 have placed a lot of pressure on older branded drugs, and prescribers and patients have been given financial incentives to switch to generics. However, reforms have not been especially ‘pro-generic’, so whilst generics will continue to be increasingly widely prescribed, their value share of the overall market will alter less rapidly. In 2007, generic drugs accounted for 36.5% of the prescription market by value; around 81% of this was covered under the GKV. In volume terms, the generic market has continued to grow each year. This was particularly impressive in 2007, when it reached 65.4% of the total market, compared with 60.0% in 2006.
Five-year projections for economic, demographic, health expenditure, health workforce and pharmaceutical market indicators.
Specialised intelligence on OTCs, generics, biologics and biosimilars.
Exclusive economic and demographic data from the Economist Intelligence Unit (EIU) for each market in the series.
A separate statistical health file, comprising health expenditure, health infrastructure, health services and health personnel.
The reports are updated quarterly, providing you with the latest information for a full year. In addition, the service will keep you up to date with market and industry news on a regular basis.
GERMANY - MARKET REVIEW
Germany's economy depends heavily on exports and was therefore hit hard by the global downturn. However, according to the Economist Intelligence Unit, the economy showed early signs of recovery in 2009, growing by 0.4% in the second quarter and by a further 0.7% in the third quarter. GDP is expected to grow by 1.0% in 2010 and by an average 1.8% per annum between 2010 and 2015. Working on its policies, the new coalition has stated that its main goal is to deal with the consequences of the global economic crisis. Tax cuts have been planned in order to stimulate growth, but critics have warned that the country could build a huge debt if the government does not reduce spending concurrently.
Germany is one of the heaviest alcohol-drinking nations in Europe as it is more socially acceptable to drink during the day and in public than in countries such as the USA. There is also a strong tradition of beer making/drinking and the price of alcohol is very low. However, the government has launched campaigns in order to increase awareness of the dangers of excessive alcohol consumption and to discourage younger people from binge drinking. Obesity is also a problem, with three quarters of men and over half of women classed as overweight; the cost of treating cardiovascular diseases, diabetes, cancer and depression, which arise from being overweight, places a major burden on the German state budget. Although the government has allocated millions of euros towards combating obesity, it will take time for national programmes to yield the desired results.
The German pharmaceutical market is twice the size of Italy; in per capita terms, it is similar to Austria. Growth in recent years has tended to be uneven, as government reforms take effect on pricing and/or reimbursement. For the market as a whole, the projected CAGR for 2010-2015 in US dollar terms is 4.8%. For prescription drugs, the CAGR is 3.9%. Growth will be fastest in the specialist hospital market, which naturally uses the newest and most expensive products. The OTC market will continue to fall gradually due to increasing price competition. While overall expenditure is still growing, GKV expenditure, which accounts for around 80% of the market, is characterised by price reductions. These are due to tighter reimbursement rules, greater use of generics and downward pressure on generic prices due to the rebate system.
Reimbursement changes and greater use of substitution since 2004 have placed a lot of pressure on older branded drugs, and prescribers and patients have been given financial incentives to switch to generics. However, reforms have not been especially ‘pro-generic’, so whilst generics will continue to be increasingly widely prescribed, their value share of the overall market will alter less rapidly. In 2007, generic drugs accounted for 36.5% of the prescription market by value; around 81% of this was covered under the GKV. In volume terms, the generic market has continued to grow each year. This was particularly impressive in 2007, when it reached 65.4% of the total market, compared with 60.0% in 2006.