Research and Markets: The Pharmaceutical Market: Hungary Review

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/b4da7f/the_pharmaceutical) has announced the addition of the "The Pharmaceutical Market: Hungary" report to their offering.

THE PHARMACEUTICAL MARKET: HUNGARY - REVIEW

In the parliamentary elections of April 2010, the centre-right opposition party, Fidesz, won a two-thirds majority in parliament; it is now the sole ruling party. Fidesz has identified healthcare reform as a top priority and it now faces the challenge of financing the health sector with a health insurance fund budget that it considers to be inadequate. Fideszs success in forcing the previous administration to overturn its visiting fees policy resulted in contributions to the health insurance fund almost halving between 2007 and 2010. The low budget is not helped by the populations tendency to over-medicate.

The domestic pharmaceutical industry concentrates on generic production. Companies such as Gedeon Richter and Egis retain strong positions in the market, and are also prominent in the former Soviet Union. Demand is growing for expensive branded products, however. Hungary has a number of well-established manufacturers. The largest domestic producer, Gedeon Richter, was founded in 1901 whilst several others, such as Alkaloida or Chinoin, were set up in the early 1900s. However, foreign manufacturers also have a presence on the market; the AIPM has 25 members which are research-based pharmaceutical companies, including AstraZeneca, Bayer and Merck. Members of MAGYOSZ include GlaxoSmithKline, Pfizer and sanofi-aventis.

Hungary has a large pharmaceutical market in Central & Eastern European terms, which is predicted to expand at a moderate CAGR over the next few years. The country also has the strongest biotechnology sector in Central and Eastern Europe, which has developed rapidly in recent years due to support from the government, academic excellence and a traditionally strong R&D base. R&D is carried out by large pharmaceutical companies, a growing number of small and medium-sized biotechnology companies and several fast-growing research institutions, such as the Biological Research Centre of the Hungarian Academy of Sciences and the Institute for Biotechnology.

Companies Mentioned:

  • Biogal
  • Chinoin
  • Egis
  • Gedeon Richter
  • Human
  • ICN Magyarorszag (Alkaloida)
  • Keri Pharma
  • Pharmavit

For more information visit http://www.researchandmarkets.com/research/b4da7f/the_pharmaceutical

Source: Espicom Business Intelligence Ltd



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KEYWORDS:   Europe  Hungary

INDUSTRY KEYWORDS:   Health  Pharmaceutical

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