Pharmaceuticals Market In Germany size is set to grow by USD 21.44 bn from 2023-2027, Abbott Laboratories, AbbVie Inc. & Amgen Inc., and more to emerge as Some of the Key Vendors- Technavio
NEW YORK, March 22, 2024 /PRNewswire/ -- The global pharmaceuticals market in Germany size is estimated to grow by USD 21.44 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.25% during the forecast period. Europe held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 100%.
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Pharmaceuticals Market in Germany is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Pharmaceuticals Market in Germany report includes information on the product launches, sustainability, and prospects of leading vendors including Abbott Laboratories, AbbVie Inc., Amgen Inc., AstraZeneca, Bayer AG, Boehringer Ingelheim International GmbH, Bristol Myers Squibb, Eli Lilly and Co., F. Hoffmann La Roche Ltd., Fresenius SE and Co. KGaA, GlaxoSmithKline Plc, Johnson and Johnson Services Inc., MCM Klosterfrau Vertriebsgesellschaft mbH, Merck KGaA, Novartis AG, Novo Nordisk AS, Pfizer Inc., Sanofi, STADA Arzneimittel AG, Teva Pharmaceutical Industries Ltd.
Research Analysis
In the German pharmaceuticals market, several key players are making significant strides. Bausch + Lomb, for instance, is focusing on ophthalmology with products like Globican 2018, which provides global cancer incidence and mortality data. In oncology, Empagliflozin from Boehringer Ingelheim and Nintedanib from Roche are gaining attention. Darolutamide, marketed as Nubeqa, and Camostat Mesylate are other oncology treatments making an impact. The SARS-CoV-2 coronavirus pandemic has accelerated the demand for treatments and vaccines, with Rubraca and ERVEBO vaccine being notable examples. Lastly, KRAS inhibitors, a promising class of cancer drugs, are also under development and expected to contribute to the market's growth.
Market Drivers
The Pharmaceuticals Market in Germany is a significant global player, renowned for its robust industry and advanced healthcare system. Major pharmaceutical companies invest heavily in Germany, benefiting from its strong research and development capabilities, skilled workforce, and innovative technologies. In recent years, notable investments include BioNTech's USD43 million expansion for mRNA-based drug production and Bayer's USD1.6 billion injection for new facilities, digitization, and innovative technologies. These investments underscore Germany's position as a hub for pharmaceutical innovation and growth.
Market Challenges
The German pharmaceuticals market faces intricate pricing and reimbursement challenges, which significantly impact profitability for pharmaceutical companies. To secure favorable prices with statutory health insurance funds, firms must prove their products' added therapeutic value. This hurdle may deter companies from introducing innovative treatments to the German market, potentially limiting patient access to essential therapies for chronic conditions like cancer and heart disease. Conversely, lower prices may discourage investment in German research and development activities.
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Market Segmentation
This Pharmaceuticals Market in Germany report extensively covers market segmentation by Distribution Channel (Pharmacy, Clinic) Type (Prescription, Non-prescription) Geography (Europe)
Market Segmentation by Type
The Pharmaceuticals Market in Germany is dominated by the pharmacy segment, which holds the largest share due to the country's Pharmacy Monopoly system. Only licensed pharmacies, typically owned and operated by pharmacists, are authorized to sell both prescription and over-the-counter medications. This system ensures medication quality, safety, and availability to the public. Pharmacies offer additional services, such as prescription counseling, patient consultations, medication management, and health advice. These services contribute to the sector's significance in Germany's healthcare system. Download Free Now
Research Analyst Overview
In the German pharmaceuticals market, brands such as T, M, P, R, S, and Biosimilars play a significant role. Drugs like Brand A and Generic drugs are in high demand, with a focus on drugs for mitigating health issues like Oncology and Novaliq. The German market is known for its stringent regulations, including those set by the German Medicines Act and the European Medicines Agency. The Stada Group and Formycon AG are notable players in the German pharmaceuticals industry. The drug development process is complex, involving various stages from research and development to formulation and manufacturing. The formulation of drugs like Formatio and Solid Drugs is crucial in this industry. Brands and generics contribute to the overall growth of the German pharmaceuticals market, which is expected to continue its upward trend.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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