Home to a USD 3.38 billion pharma market, one of Central and Eastern Europe’s most high-performing healthcare systems, and one of the region’s leading economies, the Czech Republic’s healthcare and life sciences market is fast closing the gap on its Western European equivalents.
A traditionally tightly regulated domestic market is undergoing reform, and a more amenable administration is putting in place a system more conducive to the latest medical innovations. Notable progress has been made in the fields of preventative medicine, cutting-edge oncology treatments, and orphan drugs.
However, the country’s reference pricing system, whereby reimbursement is set based on the lowest price in the EU acts as a significant impediment to the introduction of both innovative and generic drugs alike to the Czech market.
The Czech Republic is staking a name for itself as a prime investment location, situated at the heart of Europe and with strong connections to the rest of the continent and beyond. Moreover, several multinational firms are setting up regional hubs and service centres in the capital, Prague, as well as centres of excellence for research and clinical trials in key therapeutic areas such as oncology.
Other key topics covered in this comprehensive new report include the country’s medical device sector, how the patient voice is increasingly being heard in the decision-making process, a burgeoning medical aesthetics segment, and much more.