The Pharmaceutical Market in EU has a value of over 183 Million €, positioning Europe as the second biggest pharmaceutical market in the world, with Germany, France, Italy, United Kingdom and Spain as top 5 countries. The largest market is Germany with around 48 Million € which accounts for 24% of the market.
Europe accounts for 22% of world pharmaceutical sales and during the period 2012-2017 and 18% of sales of new drugs were on the European market. The total volume of medicinal products consumed globally is set to grow about 3% annually through 2021 and estimations point to a compound annual growth rate of 4 percent by 2022.
Medicinal products are advancing at an astonishing rate, however there are challenges. The regulation of drugs involves rigorous standards and complex regulatory environment. Prices and distribution margins are generally fixed by governments, and Vat rates differ significantly from country to country in Europe.
Despite these circumstances, European pharma market maintains and forecasts an extensive growth pattern and Europe is becoming increasingly attractive to investors. Probably, for companies of pharmerging markets is the best time to explore opportunities and business in the European market. Europe has adopted globally acknowledged standards and requirements, and the authorities’ efforts to seek out new interest to create a more competitive and therefore more accessible market.
At Azierta, science and health consultancy firm, we provide global support to access the European Pharma Market to Non-European companies. We are experts in Regulatory Affairs, Compliance and Requirement Related Services.
For further information, please visit our website European Market Access Support Services, do not hesitate to contact us in case of any doubt.
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- Efpia-The Pharmaceutical Industry in figures Key Data 2017; Retrieved from Efpia.eu
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- Statista-Top 10 biotech and pharmaceutical companies worldwide based on market capitalization as of 2018 (in billion U.S. dollars); Retrieved from Statista.com
- Efpia- Efpia Report Wifor; Retrieved from Efpia.eu
- Evaluategroup-WorldPharmaReport2018; Retrieved from
- Deloitte-2018 Global life sciences outlook; Retrieved from Www2.deloitte.com