Pharmaceuticals - Central & Western Europe

Central & Western Europe

In 2024, the projected revenue in the Pharmaceuticals market is expected to reach a staggering US$130.70bn.
Within this market, the largest market is Oncology Drugs, which is projected to have a market volume of US$23.00bn in 2024.
Looking ahead, the revenue is expected to exhibit a compound annual growth rate (CAGR) of 4.76% from 2024 to 2029.
This growth will result in a market volume of approximately US$164.90bn by 2029.
When comparing across the globe, it is worth noting that United States is anticipated to generate the highest revenue in the Pharmaceuticals market, with a projected amount of US$630.30bn in 2024.
In Germany, the pharmaceutical market is characterized by a strong focus on research and development, with several leading pharmaceutical companies headquartered in the country.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Central & Western Europe has been steadily growing over the past few years, driven by various factors such as an aging population and increased healthcare spending.

Customer preferences: Consumers in Central & Western Europe are increasingly demanding personalized and innovative healthcare solutions. They are looking for products that are tailored to their specific needs and provide a high level of efficacy. Additionally, there is a growing trend towards natural and organic products, as consumers become more health-conscious and environmentally aware.

Trends in the market: Germany is the largest pharmaceutical market in Central & Western Europe, accounting for a significant share of the region's total pharmaceutical sales. The market is characterized by a high level of innovation, with a focus on research and development of new drugs and therapies. In recent years, there has been a shift towards specialty drugs, which are used to treat rare diseases and conditions. This trend is expected to continue, driven by advancements in biotechnology and increased investment in precision medicine.In France, the pharmaceutical market is heavily regulated, with strict price controls and reimbursement policies. Despite this, the market has been growing steadily, driven by an aging population and increased healthcare spending. There is a growing trend towards self-medication and over-the-counter (OTC) products, as consumers become more proactive in managing their own health.

Local special circumstances: In Italy, the pharmaceutical market is characterized by a high level of fragmentation, with a large number of small and medium-sized companies operating in the sector. The market is heavily regulated, with strict price controls and reimbursement policies. However, there is a growing trend towards the use of generic drugs, which are seen as a cost-effective alternative to branded products.In Spain, the pharmaceutical market is driven by a large and growing elderly population, as well as increased healthcare spending. The market is characterized by a high level of innovation, with a focus on research and development of new drugs and therapies. There is also a growing trend towards the use of biosimilars, which are cheaper alternatives to biologic drugs.

Underlying macroeconomic factors: The pharmaceutical market in Central & Western Europe is expected to continue growing in the coming years, driven by various macroeconomic factors such as an aging population, increased healthcare spending, and advancements in technology. However, the market is also facing challenges such as increased competition, regulatory pressures, and the rising cost of drug development. Companies operating in the sector will need to focus on innovation, cost-effectiveness, and strategic partnerships in order to succeed in this dynamic and rapidly evolving market.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.