Market Trends of Czech Republic Pharmaceutical Industry
The Anti-diabetic Segment is Expected to Register Significant Growth During the Forecast Period
The Czech Republic faces a growing diabetes burden, which is estimated to drive the demand for pharmaceutical drugs for the treatment and management of diabetes in the country. For instance, according to the data accessed from the IDF in May 2024, around 791.4 thousand people suffered from diabetes in 2021, and the number is estimated to increase to 799.2 thousand by 2030 and 827.9 thousand by the end of 2045.
The active participation of government organizations in the country in eradicating diabetes is projected to drive market growth significantly during the forecast period. For instance, in March 2023, the Czech Ministry of Health published the Applied Health Research Support Program for 2024-2030. As per the program, in the coming few years, health research on diabetes prevention will primarily focus on the screening for diabetic retinopathy with a high focus on personalized medicine, enabling the detection of predictors of type 2 diabetes treatment. Thus, public health initiatives and educational programs are raising awareness about diabetes risk factors and symptoms in the Czech Republic. This is set to lead to earlier diagnoses and prompt treatment initiation, driving the use of anti-diabetic drugs.
Moreover, the Czech government plays a substantial role by reimbursing the costs of some diabetes medications. This financial support makes treatment more accessible and influences the overall market size of the anti-diabetic segment. For instance, in August 2022, the Czech Republic implemented a new reimbursement program for innovative diabetes medications, demonstrating the government's commitment to supporting access to these therapies.
Therefore, factors such as the rising prevalence of diabetes and the active participation of government organizations in the eradication of diabetes from the country are projected to drive the demand for anti-diabetes drugs during the study period.
The Branded Drugs Segment is Expected to Register Fastest Growth During the Forecast Period
The branded drugs segment in the market studied is expected to experience significant growth due to the demand for innovation, marketing efforts, the reference pricing system, and patient preferences in the country.
The rising prevalence of various chronic diseases in the country is projected to accelerate the market growth during the forecast period. For instance, according to the Czech National Cancer Control Plan 2030 report, published by the Ministry of Health in June 2022, approximately 60,000 malignant tumor cases (excluding other skin tumor cases) are diagnosed in the Czech Republic every year. As per the same source, the overall prevalence of people with a history of cancer is more than 700,000. Also, every third citizen of the Czech Republic is expected to develop some cancer during their lifetime, and by 2030, the cancer prevalence is projected to exceed 750,000 people. Thus, the high prevalence of cancer in the country is projected to accelerate the demand for branded drugs during the forecast period.
Furthermore, the country's rising number of drug approvals is also expected to drive market growth during the forecast period. For instance, in January 2023, the European Commission approved a revolutionary prostate cancer drug, XTANDI (enzalutamide), for use in additional recurrent early prostate cancer treatment settings. This drug is one of the first novel hormone therapies available for the treatment of high-risk biochemical recurrent non-metastatic hormone-sensitive prostate cancer in the European Union. Thus, such approvals are projected to increase demand for cancer drugs, driving segment growth.
Therefore, factors such as the rising prevalence of chronic diseases and surging drug approvals are projected to drive the growth of the branded drugs segment during the forecast period.
