Frost & Sullivan’s Country Industry Forecast - European Union Healthcare Industry

The accession of ten more central and east European countries to the European Union (EU) -15 in 2004 has created a single European market, the largest market and trading zone for the healthcare industry with almost 500 million consumers. The total healthcare industry comprising pharmaceuticals and drugs, medical devices and equipment, and health services is expected to grow at a compound annual growth rate of 6.4 per cent from 2003 to 2008. With enlargement comes the concern of ensuring that products of uniform high quality are available throughout the EU. Acceding member states are expected to provide effective and innovative medicines to make this possible.