The Germany Pharmaceuticals Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The Germany pharmaceuticals market size is projected to touch USD 65.9 billion by 2027, according to a new report by Million Insights. The market is anticipated to register 6.0% CAGR over the forecast duration. Growing prevalence of chronic diseases and rise on the expenditure on research and development are attributing to the growth of the market.
Key Players:
- Boehringer Ingelheim International
- Bayer AG
- Merck Kgaa
- STADA Arzneimittel AG
- Pfizer
- Abbott
- Abbvie inc
- Fresenius Kabi
- Teva Pharmaceutical Industries ltd.
- Novartis AG
- Sanofi
- Johnson & Johnson Services, inc.
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Growth Drivers:
The export of pharmaceutical has increased over 10.0% in 2018 as compared to last year. Countries such as the United States, Switzerland and the Netherlands are the top three importers of a pharmaceutical from Germany. Factors such as supportive reimbursement policies and pricing are anticipated to propel the demand for German pharmaceutical. Nearly 90.0% of the German population is covered by Statutory Health Insurance (SHI), while other 10.0% are covered by private insurance and special insurance.
The increasing number of drugs in Phase III clinical trials is projected to become ready for commercial purpose in the near future, as a result, the market is estimated to witness significant growth over the next few years. For example, research and development of Boehringer Ingelheim International GmbH’s consists of Nintedanib and Empagliflozin. These drugs meant to treat cardiovascular diseases are in the third phase of clinical trials.
Drug Class Outlook:
- Anti-cancer
- Anti-diabetics
- Anti-rheumatics
- Vaccines
- Anti-viral
- Immunosuppressant
- Bronchodilators
- Dermatological
- Anti-hypertensive
Formulation Outlook:
- Solid formulation
- Tablets
- Capsules
- Liquid & semi-liquid formulation
- Oral
- Topical
- Sublingual and buccal
- Rectal
- Parenteral
COVID-19 Impact Insights:
Germany pharmaceutical market has been positively affected owing to the outbreak of COVID-19. The pandemic has led to rise in the number of patient counts in Germany, which, in turn, resulted in the rise in the demand for development of new drugs. Various Germany players are developing the vaccines for coronavirus, which is further projected to drive market growth. For example, German company BioNTech, in collaboration with US-based Pfizer has started the human trial for COVID-19 vaccine. In addition, the government of Germany has granted permission to other two German biotech firms namely - Biologika and CureVac to develop the COVID-19 vaccine.
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