Pharmaceuticals - EU-27

EU-27

In 2024, the revenue in the Pharmaceuticals market in EU-US$24.93bn is projected to reach a staggering amount of US$143.50bn.
Among the various markets, Oncology Drugs emerge as the largest, with a projected market volume of US$24.93bn in the same year.
Looking ahead, the revenue is expected to exhibit a steady annual growth rate of 4.26% (CAGR 2024-2029), which would result in a remarkable market volume of US$176.80bn by 2029.
However, in a global context, United States is anticipated to generate the most revenue, reaching an impressive US$630.30bn in 2024.
Germany's pharmaceutical market is driven by a strong focus on research and development, leading to innovative drug discoveries and a high demand for advanced healthcare solutions.

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.

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Currency

Analyst Opinion

The Pharmaceuticals market in EU-27 has been experiencing significant growth over the past few years.

Customer preferences: Customers in the EU-27 region have been increasingly demanding innovative and personalized medications. They are also seeking more cost-effective solutions that provide better outcomes. Furthermore, the aging population in the region has been driving demand for pharmaceutical products.

Trends in the market: One of the major trends in the EU-27 pharmaceuticals market is the increasing focus on research and development (R&D) of personalized medicine. This trend is driven by the need to provide more targeted treatments that are tailored to individual patients. Another trend is the growth of biologics, which are complex molecules that are produced using living cells. Biologics have become increasingly important in the treatment of various diseases, including cancer and autoimmune disorders. Additionally, there has been a rise in the use of digital health technologies, such as telemedicine and remote monitoring, which are helping to improve patient outcomes and reduce costs.

Local special circumstances: The pharmaceuticals market in the EU-27 is highly regulated, with strict rules governing the approval and marketing of drugs. This has led to a highly competitive market, with companies investing heavily in R&D to bring new products to market. Additionally, the region has a large number of small and medium-sized enterprises (SMEs) that are focused on niche areas of the market. These SMEs often collaborate with larger pharmaceutical companies to bring new products to market.

Underlying macroeconomic factors: The EU-27 region has a large and growing population, with an aging demographic that is driving demand for pharmaceutical products. Additionally, the region has a strong healthcare system that is focused on delivering high-quality care to patients. The pharmaceuticals market in the EU-27 is also supported by a highly skilled workforce, with many companies investing in R&D to develop new products. Finally, the region has a strong intellectual property regime, which provides protection for innovative pharmaceutical products.

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.