Abstract
The addition of new countries to the European Union (EU) has changed the
dynamics within its healthcare industry, which is now the second largest
industry in the world following North America. As these new members work towards
raising standards to meet EU guidelines, investments are also on the rise. The
new member countries are focusing on creating long-term sustainable systematic
changes internally to increase productivity and profitability. Following these
initiatives and regulations, the market is expected to grow at a consistent
rate.
This Frost & Sullivan strategic analysis looks at the opportunities in
the pharmaceuticals and biotechnology industry in the new EU countries. It
offers an overview on healthcare sectors and accurate facts on the burgeoning EU
markets. The research includes challenges related to the industry and revenue
opportunities along with vital information on clinical trials and strategic
positioning policies that can help participants in the tactical capitalising of
opportunities.
Clinical Trials Speeded Up by Easy Patient Availability
New member countries offer the pharmaceutical market great potential for
revenue growth with their large untapped and treatment-na・e patient base.
This raises the chances for swift patient trials, particularly because treatment
occurs mostly in large volume hospitals. This process of patient recruitment is
highly efficient compared to trials conducted through individual physician
practices. The abundance of patient volunteers allows speedy completion of
clinical trials whereas over 80 per cent of the trials conducted in the West are
delayed due to a dearth of volunteers.
"These rapid trials are further boosted by the easy availability of
highly skilled, motivated and qualified (to MD and PhD level) investigators
willing to work for lower wages than their western counterparts," observes
the analyst of this research. "These investigators are also familiar with
red tape issues and are highly compliant with the documentation requirements of
clinical trials."
Entry Issues a Setback for Foreign Companies in New EU Market
With a patient base of over 400 million, large multi-national pharmaceuticals
and biotechnologies companies are using these new EU countries for phase I, II
and phase III studies. Besides lesser-known diseases, these countries also offer
the opportunity to test for large global markets at relatively lowered costs.
This regional advantage allows pharmaceutical companies overcome their biggest
expense -- the cost incurred by way of delayed time to market.
However, local participants overshadow most multinational companies in the
new EU markets. "Foreign companies and even local companies need to present
compelling health economic data to justify a products price and retain
premium," explains the analyst. "Further, they need to upgrade
existing approval dossiers in the candidate countries in order to comply with
the EU laws."
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Table of Contents
1 STRATEGIC ANALYSIS OF THE OPPORTUNITIES FOR PHARMACEUTICAL AND
BIOTECHNOLOGY INDUSTRY IN THE NEW EU COUNTRIES
Overview
Research Scope and Methodology
European Union
European Union Healthcare
Challenges in the New EU Market
Opportunities in Clinical Trials
Strategic Recommendations
Industry Participants
Decision Support Databases
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