Boston, MA -- (SBWIRE) -- 11/13/2014 -- Drug shortages have been reported for certain drugs such as antibiotics as their prices make them unprofitable for manufacturers. The HZZO continues to face a backlash from pharmacies and wholesalers over its pricing policies . We forecast weak pharmaceutical market growth over the next decade, in light of Croatia's acceding to EU pressure to rein in its budget deficit. W ith Croatia's economy remaining in the doldrums, fiscal expansion i n healthcare will be difficult to justify . We therefore expect growth to remain depressed over the next decade.

Headline Expenditure Projections

- Pharmaceuticals: HRK6.95bn (USD1.19bn) in 2013 to HRK6.62bn (USD1.08bn) in 2014; -4.7% in local currency and -9.0% in US dollar terms. Forecast revised downwards from Q414 due to currency forecast revision.
- Healthcare: HRK22.88bn (USD3.92bn) in 2013 to HRK22.10bn (USD3.62bn) in 2014; -3.4% in local currency and -7.8% in US dollar terms. Forecast revised slightly down from Q414 on analyst intervention.

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Risk/Reward Rating

Despite its accession to the EU, Croatia offers tepid growth over the long term. Croatia has a RRR score of 46.4 out of 100, making it the 18th most attractive pharmaceutical market in Central and Eastern Europe.

Key Trends And Developments

- Croatian pharmacies are reporting shortages of certain medicines such as antibiotics as price cuts make them unprofitable for wholesalers to procure.
- In June 2014 the European Commission called on the Croatian government to strengthen the healthcare sector and increase its cost effectiveness.
- In April 2014 the HZZO revised its primary reimbursement list, including new drugs but also revising the recommended prices downwards. Local drugmakers accused the HZZO of disadvantaging them against foreign companies.
- New margin limits were imposed on pharmacies and wholesalers in March, with businesses complaining that they will become unprofitable and the country will experience a shortage of medicines.

BMI...

The Croatia Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Croatia Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Croatian pharmaceutical and healthcare industry.

Key Benefits

- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Croatia to test other views - a key input for successful budgeting and strategic business planning in the Croatian pharmaceutical and healthcare market.
- Target business opportunities and risks in the Croatian pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Croatia.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View & Industry SWOT

An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI's forecast analysis, and taken together with BMI's political, economic and business environment SWOTS, it gives a complete overview of market climate.

Market Summary

Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.

Industry Developments

Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

BMI Industry Forecasts

Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

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