Slovakia's pharmaceutical market attractive, despite its small size, says BMI

Despite its relatively small pharmaceutical market, Slovakia remains a key market for major firms in Central and Eastern Europe (CEE). Reinforcing this trend, the country is ranked in seventh position in Business Monitor International's Business Environment Ratings for the first quarter of 2010 and can be considered a relatively low-risk proposition for multinational pharmaceutical companies.

While Slovakia's total population size, at 5.4 million, limits absolute spending potential, strong proportions of health funds directed to medicines results in high per-capita spending and good access to higher-priced treatments. Meanwhile, an aging population should continue to bolster top-line figures over the long term. Regulatory-wise, Slovakia's accession to the European Union has brought legislation into line with more developed markets, although some concerns prevail. The country also boasts relatively strong Country Risk scores, says BMI.