Summary Q2 2025
Irish Economy
Ireland’s GDP grew by 0.2% quarter-on-quarter in Q2 2025, a reversal of the preliminary estimate of a 1.0% decline. However, GDP was still up 17% in the year to Q2 2025.
PCRS 2024 Report Released
The HSE have released the Primary Care Reimbursement Service Statistical Analysis of Claims and Payments 2024, which is available here.
Four takeaways from the report are:
1. Over €105 million worth of prescription items were paid for by the PCRS, an increase of 6.5% YOY.
2. Increase in the value of fees reimbursed to pharmacists of 5.4% YOY.
3. Decrease of fees reimbursed under vaccination schemes of 1% YOY.
4. There was a net increase of one additional pharmacy contractor in 2024, with the number of contractors at 1912 (to include hospital pharmacies).
Global Economy
Global economic growth is slowing slightly, with forecasts for 2025 downgraded due to weaker activity in major economies. Projections now range from 2.3% to 3.0%, as trade barriers and policy uncertainty weigh on investment.
Medicine Shortages
Pharmacists are spending over six hours a week managing medicine shortages, according to an Irish Pharmacy Union (IPU) survey. Shortages of key drugs like hormone replacement therapy and ADHD treatments are affecting patient care. The IPU calls for greater pharmacist discretion to find alternatives and ease the impact.
US Tariffs
Tariffs introduced by the United States in early 2025 continue to impact global trade and economic growth. These tariffs have raised costs for importers and manufacturers worldwide, contributing to higher consumer prices and inflationary pressures. Supply chain disruptions persist across multiple sectors.
