Report Overview

The size of the market in the EU set to grow between 2019-2028 with a CAGR of 4.5% over this period. The Pharmaceutical Market in the EU has a current value of over XX billion in 2019 and expected to reach XX billion in 2028

EU is positioned as the second biggest pharmaceutical market in the world, with Germany, France, Italy, United Kingdom, and Spain as the top 5 countries. According to EUROSTAT data, the pharmaceutical industry is the high technology sector with the highest added-value per person employed, significantly higher than the average value for high-tech and manufacturing industries. The pharmaceutical industry is also the sector with the highest ratio of R&D investment to net sales. According to the 2018 EU Industrial R&D Investment Scoreboard, the pharmaceutical sector amounts to 18.9% of total business R&D expenditure worldwide. The pharmaceutical industry invested more than 35,300 million in R&D in the EU. Additionally, the EU is now facing increasing competition from emerging economies & rapid growth in the market. However, the adoption of cost control policies along with the tightening of rules by governments in key markets is expected to impact the growth prospect of the EU pharmaceuticals industry



Market Growth Drivers

The growth is fuelled by the growing and aging population in key markets. Apart from aging and rising population the improvements in purchasing power and access to quality healthcare and pharmaceuticals to poor and middle-class families worldwide also are driving the growth of the EU pharmaceutical industry. Another aspect that is leading this growth is the rising focus of pharmaceuticals companies to tap the rare and specialty diseases market. Innovations in advanced biologics, nucleic acid therapeutics, cell therapies, and bioelectronics & implantables have attracted investments in the industry by even non-pharma companies like Facebook, Qualcomm, etc. which is also driving the EU pharmaceuticals industry growth