DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/eed560/the_pharmaceutical) has announced the addition of the "The Pharmaceutical Market: Spain" report to their offering.
The health system is decentralised, which means that health provision varies from region to region. Public health expenditure represents about three-quarters of total health expenditure but private health expenditure, which mainly comprises out-of-pocket expenditure and private health insurance, has increased at a higher rate in recent years. However, this growth is expected to slow down due to the economic downturn. In terms of health infrastructure, Spain is well served to provide hospital and outpatient care. The health workforce is strong, although there is some concern that there are not enough physicians in the SNS, particularly in the paediatrics, radiology, anaesthesiology, family medicine and pathological anatomy specialties.
On 19th August 2011, Spain passed a new Royal Decree Law that included a number of new austerity measures to help reduce the country's budget deficit. Some measures affected the health sector, in order to better sustain the SNS and improve health quality, equity and cohesion. With the new austerity measures, the government aims to save 2.4 billion euros (US$3.3 billion) in annual SNS pharmaceutical expenditure and 167.0 million euros (US$231.2 million) in annual patient co-payment fees. These savings are additional to those resulting from the implementation of Royal Decree Laws No. 4/2010 and No. 8/2010; these two Royal Decree Laws resulted in a fall of 2.4% in SNS pharmaceutical expenditure in 2010.
The Spanish pharmaceutical market ranks fifth highest in Western Europe. However, It ranks much lower in per capita terms. FARMAINDUSTRIA believes that new pharmaceutical medicines will be entering the Spanish pharmaceutical market in the coming years, together with biologic medicines. The economic slowdown has affected the pharmaceutical industry.
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Source: Espicom Business Intelligence Ltd