Industry revenue of »dispensing chemist in specialised stores« in Hungary 2011-2023

Over the past few years, Hungary has been hard hit from drug shortages. According to data from pharmaboardroom.com, over 14,000 types of pharmaceuticals are unavailable in Hungarian pharmacies. In fact, in 2018, only 38 percent of the medicines approved by the European Medicines Agency (EMA) were available to patients. This is one of the main reasons why the country’s pharmacies are expected to witness only tepid growth between 2016-2023.

In fact, not only Hungary, but majority of the European nations are facing medicine shortages, the key reason being the increasing reliance on a limited number of countries for the production of medicines, such as China and India, which has led to a decrease in domestic production. The situation is expected to further deteriorate in short to medium, as the outbreak of the coronavirus pandemic has brought supply chain operations to a virtual stand-still. Chinese exports have drastically dropped as majority of the industries are still not operational. Further, India, which accounted for over 26 percent of the generic drug exports to European markets in 2019, has also limited the exports, due to fear of domestic shortages.

Industry revenue of »dispensing chemist in specialised stores« in Hungary from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Hungary. The industry “dispensing chemist in specialised stores“ has the code “G4773“.

Details on the methodology can be found here.

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Statistics on "Economic Outlook Hungary"

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