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Reportlinker Adds The Outlook for Pharmaceuticals in Western Europe
Date:12/29/2010

has been much more dynamic with growth rates twice this figure in recent years, although growth rates are now falling due to greater regulatory controls in this sector and fewer innovative drugs coming to market. The underdeveloped generics market is undergoing rapid expansion boosted by government incentives and the loss of patent protection for several high-volume products. The stagnating OTC market has also started to expand as a result of government moves to end reimbursement for a wide range of products assigned a low medical value rating.

UNITED KINGDOM

The UK is one of the largest pharmaceutical markets in the world. Between 2004 and 2008, the number of prescriptions written in the UK increased by 22.1% to an estimated 1,025.7 million, while the value of prescriptions increased by 3.4% in the same period to £10.3 billion (US$19.0 billion). The leading therapeutic areas in 2008 were the cardiovascular system, in terms of the number of prescriptions written, and the central nervous system, in terms of value. The UK is one of the leading pharmaceutical producers and exporters. The UK 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.

ITALY

Being initially based on the NHS-model of the UK, the Italian health service is also facing similar scenarios, most notably efforts to restrain rising costs. Cost containment measures are restricting growth in the pharmaceutical market, particularly the retail pharmacy market. The self-medication market continues to stagnate despite the liberalisation of the pharmacy sector, which has enabled non-prescription medicines to be sold outside pharmacies. The generics market is set to undergo a major expansion following the expiry of patents on several high volume products in 2007 and 2008. Italy has a well established pharmaceutical manufacturing industry.

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