New Market Report: United Kingdom Pharmaceuticals & Healthcare Report Q3 2013

From: Fast Market Research, Inc.
Published: Mon Aug 19 2013

We continue to believe that increased commercial potential for private insurance companies is being created through the National Health Service (NHS). Our view is supported by developments such as the replacement in April 2013 of 152 Primary Care Trusts (PCTs) with 211 GP-led Clinical Commissioning Groups (CCGs). The latter are taking responsibility from the former for the commissioning of the majority of care, including the running of a collection of hospital, mental health and community services. CCGs have the freedom to commission services for their local community from any service provider which meets NHS standards and costs, including NHS hospitals, social enterprises, voluntary organisations or private sector providers.

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Headline Expenditure Projections:

* Pharmaceuticals: GBP23.74bn (US$37.85bn) in 2012 to GBP23.42bn (US$36.07bn) in 2013;-1.3% in local currency terms and -4.7% in US dollar terms. Local currency forecast unchanged from Q213.
* Healthcare: GBP144.47bn (US$230.33bn) in 2012 to GBP147.64bn (US$227.36bn) in 2013; +2.2% in local currency terms and -1.3% in US dollar terms. Local currency forecast unchanged from Q213.

Risk/Reward Rating: Its Pharmaceutical Risk/Reward Rating (RRR) score in Q313 now ranks the UK top out of the ten key markets in Western Europe. One of the tool's components has been adjusted to better reflect longer-term pharmaceutical market opportunities, with the UK's ascent from second position supported by the highest Reward score regionally and one of the best Risk showings. While the uptake of generic drugs will become swifter following patent expirations, we are optimistic that the UK's pharmaceutical market will remain one of the most attractive globally.

Key Trends And Developments

* In May 2013, a research programme known as Mainstreaming Cancer Genetics, aimed at improving access to gene testing for cancer patients, was launched in the UK. The research programme, financed to the tune of GBP2.7mn (US$4mn) by the Wellcome Trust medical charity, will involve the country's Institute of Cancer Research (ICR), US-based healthcare company Illumina, geneticists and cancer doctors. The project will make use of Illumina's new test - TruSight - which is capable of analysing 97 cancer predisposition genes in a few weeks for a few hundred pounds, said Nazneen Rahman, the head of genetics at the ICR.

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