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The macroenvironment for the Austrian pharmaceutical industry is positive. Economic recovery is strengthening, with modest GDP real growth projected in 2012 and 2013. However, the EIU projects that Austria will be affected by the expected euro zone recession. Legally, laws on intellectual property and patent provision are in line with WTO/TRIPS regulations. Healthcare expenditure has continued its steady growth in recent years. The principal challenge facing the Austrian healthcare system is rising costs. The main reason for this is an ageing population and the uptake of new, more expensive pharmaceuticals.
Cardiovascular drugs are leaders in the Austrian pharmaceutical market, both in terms of value and volume. Other leading therapeutic areas in terms of value are the nervous system, antineoplastic & immunomodulating agents and alimentary tract & metabolism. In terms of volume, other leading therapeutic areas are the alimentary tract & metabolism, the nervous system and the musculoskeletal system. Meanwhile, the leading OTC product group is cough & cold remedies, followed by vitamins & minerals, pain relievers and stomach & digestion products.
Several multinational pharmaceutical companies have production sites in Austria, including Baxter, Boehringer Ingelheim, Fresenius Kabi, Nycomed and Sandoz. Aside from these, there are also a number of small- and medium-sized pharmaceutical companies, as well as several research-based companies.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales – for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.