Women’s health is an increasingly significant niche for pharma companies operating in the Czech Republic, with large areas of unmet need and opportunities for growth.
We have great expectations [because] fertility as a therapeutic area is the one in which I identify the largest potential for the future
Rene Bastl, Merck
Despite being highly sophisticated, the Czech pharmaceutical market still offers many opportunities for pharmaceutical companies willing to explore and invest into unmet needs. Most of these opportunities are not limited to the Czech Republic, but rather are global developments and trends which have not yet been realized in the country, thus offering more benefits for those who pursue them as competition will be limited. One of those opportunities is women’s health. The global market for women’s health therapeutics is expected to grow from around USD 33 billion in 2015 to nearly USD 40.6 billion by 2020, with a compound annual growth rate (CAGR) of 4.2 percent for the period of 2015-2020. These numbers are certainly also expected to develop proportionally in the Czech Republic.
Jana Mittman, general manager for Exeltis Czech Republic and Slovakia certainly identifies Exeltis’ women’s health segment as the main revenue driver among their wide range of products in numerous therapeutic areas, explaining that “women’s health generates 70 percent of our turnover in the Czech Republic and 65 percent within this segment comes from our contraceptive portfolio” highlighting that, although the full range of products in women’s health is broad and includes “other products within intimal medicine, for the treatment of bacterial vaginosis for instance,” vast growth potential lies in “fertility control and parent planning; which also makes up a nice piece of our business.” Although the fertility segment dominates within women’s health therapeutics, Mittmann sees great potential in the whole therapeutic area, outlining her strategy to be to “discuss with the relevant market stakeholders and key opinion leaders what is missing in the market and where they identify unmet demand and then we will fill the gap.”
René Bastl, general manager for Merck Czech Republic agrees with Mittmann’s assessment, announcing that specifically in the fertility segment “we have great expectations” because “fertility as a therapeutic area is the one in which I identify the largest potential for the future. The number of couples who have difficulties to have babies in a natural, physical way is increasing rapidly and it is definitely the segment where Merck would like to help to these couples to be happy.” Bastl elaborates, saying that “I do believe that this segment will grow significantly in the Czech Republic as many factors are currently coming together, potentially creating a boom of this segment in the short term future.” Furthermore, Merck has successfully showcased its commitment to this segment as it has “been market leader in this segment in the recent past, helping more than 2000 babies be born annually through Merck products.”
These two examples show that global developments are impacting the Czech market, however, at a later stage than they do in more mature markets. Actors who pay attention to global developments, unmet needs and are willing to move accordingly can experience a rapid development in the Czech Republic.
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