Other Pharmaceuticals - EU-27

EU-27

The Other Pharmaceuticals market in EU-27 is anticipated to achieve a revenue of US$59.74bn in 2024.
This projection suggests that the market will witness a steady annual growth rate (CAGR 2024-2029) of 3.57%, ultimately leading to a market volume of US$71.18bn by 2029.
In terms of global comparison, United States is expected to generate the highest revenue, amounting to US$260.50bn in 2024.
In the EU-27, Germany stands out as a leader in the other pharmaceuticals market, known for its strong research and development capabilities.

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

Market

Region

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Currency

Analyst Opinion

The Other Pharmaceuticals market in EU-27 is a constantly evolving industry that is driven by a number of factors such as customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Consumers in the EU-27 region have shown a growing demand for generic drugs due to their lower prices compared to branded drugs. This has led to an increase in the production and sales of generic drugs in the region. Additionally, there is a growing trend towards natural and herbal remedies, which has led to an increase in the production and sales of natural and herbal pharmaceuticals.

Trends in the market: The Other Pharmaceuticals market in EU-27 is expected to experience significant growth in the coming years due to the aging population in the region. With an increase in the number of elderly people, there is a higher demand for pharmaceutical products to treat chronic diseases and age-related illnesses. Furthermore, the COVID-19 pandemic has led to a surge in demand for pharmaceutical products such as vaccines, antivirals, and other treatments.

Local special circumstances: The pharmaceutical industry in the EU-27 region is heavily regulated, with strict rules and regulations governing the production, distribution, and sale of pharmaceutical products. This has led to a highly competitive market, with a few large companies dominating the industry. Additionally, there are significant differences in healthcare systems and reimbursement policies between EU member states, which can impact the availability and pricing of pharmaceutical products.

Underlying macroeconomic factors: The Other Pharmaceuticals market in EU-27 is heavily influenced by macroeconomic factors such as GDP growth, inflation, and government spending on healthcare. A strong economy and increased government spending on healthcare can lead to higher demand for pharmaceutical products. On the other hand, economic downturns and budget cuts can lead to a decrease in demand for pharmaceutical products.In conclusion, the Other Pharmaceuticals market in EU-27 is a dynamic industry that is driven by a variety of factors. While customer preferences, trends in the market, and local special circumstances play a significant role in shaping the industry, underlying macroeconomic factors such as GDP growth and government spending on healthcare are also important drivers of growth.

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.