BMI View: The outlook for Latvia’s pharmaceutical and healthcare markets will be primarily driven by the
government’s fiscal austerity measures. The healthcare sector, already severely underfunded, will struggle
given cuts and place more emphasis on the private sector. Growth in the pharmaceutical sector will be
limited by an increasing preference for generic substitution despite a transparent regulatory environment.
Headline Expenditure Projections
? Pharmaceuticals: EUR338mn (USD372mn) in 2015 to EUR353mn (USD377mn) in 2016; +4.4% in
local currency terms and 1.5% in US dollar terms. Forecast unchanged from previous quarter.
? Healthcare: EUR1.01n (USD1.11bn) in 2015 to EUR1.05bn (USD1.13bn) in 2015; +4.2% in local
currency terms and 1.4% in US dollar terms. Forecast unchanged on previous quarter.

Table of Contents

BMI Industry View 7
Table: Headline Pharmaceuticals & Healthcare Forecasts (Latvia 2014-2020) 7
SWOT 9
Industry Forecast 11
Pharmaceutical Market Forecast 11
Table: Pharmaceutical Sales, Historical Data And Forecasts (Latvia 2012-2020) 12
Healthcare Market Forecast 13
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020) 15
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020) 15
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020) 15
Prescription Drug Market Forecast 16
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 18
Patented Drug Market Forecast 19
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 20
Generic Drug Market Forecast 21
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 22
OTC Medicine Market Forecast 23
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Latvia 2012-2020) 24
Pharmaceutical Trade Forecast 25
Table: Pharmaceutical Trade Data And Forecasts (Latvia 2014-2020) 26
Table: Pharmaceutical Trade Data And Forecasts local currency (Latvia 2014-2020) 27
Pharmaceuticals & Healthcare Risk/Reward Index 28
Central And Eastern Europe Risk/Reward Index 28
Latvia Risk/Reward Index 34
Rewards 34
Risks 34
Regulatory Review 36
Regional Collaboration 37
Intellectual Property 38
Pricing Regime 38
Reimbursement Regime 40
Market Overview 42
Healthcare Sector 43
Table: Healthcare Resources (Latvia 2010-2015) 45
Table: Hospitals & Beds, 2006-2010 45
Table: Hospital Beds by Specialty, 2004-2010 46
Table: Healthcare Personnel (Latvia 2010-2015) 47
Table: Healthcare Activity (Latvia 2010-2015) 47
Research & Development 48
Biotechnology 48
Clinical Trials 50
Epidemiology 51
Table: Cumulative Reported Cases of HIV and AIDS, 2000-2010 53
Competitive Landscape 54
Research-Based Industry 54
Table: Multinational Market Activity 55
Generic Drugmakers 56
Pharmaceutical Distribution 56
Pharmaceutical Retail Sector 58
Company Profile 60
Grindeks 60
Olainfarm 64
Demographic Forecast 68
Table: Population Headline Indicators (Latvia 1990-2025) 69
Table: Key Population Ratios (Latvia 1990-2025) 69
Table: Urban/Rural Population & Life Expectancy (Latvia 1990-2025) 70
Table: Population By Age Group (Latvia 1990-2025) 70
Table: Population By Age Group % (Latvia 1990-2025) 71
Glossary 73
Methodology 75
Pharmaceutical Expenditure Forecast Model 75
Healthcare Expenditure Forecast Model 75
Notes On Methodology 76
Risk/Reward Index Methodology 77
Index Overview 78
Table: Pharmaceutical Risk/Reward Index Indicators 78
Indicator Weightings 79

List of Tables

Table: Headline Pharmaceuticals & Healthcare Forecasts (Latvia 2014-2020)
Table: Pharmaceutical Sales, Historical Data And Forecasts (Latvia 2012-2020)
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020)
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020)
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Latvia 2012-2020)
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Latvia 2012-2020)
Table: Pharmaceutical Trade Data And Forecasts (Latvia 2014-2020)
Table: Pharmaceutical Trade Data And Forecasts local currency (Latvia 2014-2020)
Table: Healthcare Resources (Latvia 2010-2015)
Table: Hospitals & Beds, 2006-2010
Table: Hospital Beds by Specialty, 2004-2010
Table: Healthcare Personnel (Latvia 2010-2015)
Table: Healthcare Activity (Latvia 2010-2015)
Table: Cumulative Reported Cases of HIV and AIDS, 2000-2010
Table: Multinational Market Activity
Table: Population Headline Indicators (Latvia 1990-2025)
Table: Key Population Ratios (Latvia 1990-2025)
Table: Urban/Rural Population & Life Expectancy (Latvia 1990-2025)
Table: Population By Age Group (Latvia 1990-2025)
Table: Population By Age Group % (Latvia 1990-2025)
Table: Pharmaceutical Risk/Reward Index Indicators