Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
Key regions: United States, China, Germany, Japan, Europe
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.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)