Market intelligence, trend analysis and forecasts for the Pharma and Healthcare industries across the regions

Industry / Estonia

Improving Outlook But Historic Growth Will Not Return

March 2011 | Industry Trend Analysis

BMI View: The economies of Lithuania, Estonia and Latvia were among the worst hit in Europe during the global economic crisis of 2007-2010 and the region's drug markets have not been immune to the performance of the wider economy. While moderate pharmaceutical sales growth will resume in 2011, local currency depreciation reveals that the Baltic drug market is now smaller than it was in 2008. While improving macroeconomic conditions in the region have resulted in upward revisions to our projects for future growth, we stress that these market are unlikely to return to the high double-digit growth recorded before the economic crisis.

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