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.
In addition, an increasing number of clinical trials for novel immune-suppressive therapies is projected to bode well for the growth of the market. For example, Sandoz International GmbH introduced Dailiport capsules in June 2020 in European countries including Germany.
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Major market participants are increasingly focusing on strategic initiatives such as merger & acquisition, partnerships and collaboration to consolidate their market presence. For example, Bristol-Myers Squibb made an acquisition of Celgene Corporation in 2019 to expand its product portfolio in oncology.
The rising availability of cost-effective generic drugs is projected to fuel market growth over the next few years. German companies are focusing on introducing the generic drug to consolidate their market presence. For example, Sandoz of Novartis AG, in mid-2019, introduced gefitinib’s generic version.
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Further key findings from the report suggest:
• Anti-cancer segment held the largest share in the market in 2019. Approval of the number of drugs and increasing research in the treatment of cancer are attributing to the growth of the Germany pharmaceutical market.
• By drug class, Immunosuppressant is projected to exhibit the highest growth over the forecast duration.
• In 2019, the oncology segment occupied the highest share in the market owing to the growing prevalence of prostate cancer, lung cancer and breast cancer.
• Based on type, generic drug division is projected to exhibit the highest growth over the forecast duration.
Million Insights has segmented the Germany pharmaceuticals market on the basis of drug class, application, type, and formulation:
Germany Pharmaceuticals Drug Class Outlook (Revenue, USD Million, 2016 – 2027)
Germany Pharmaceuticals Application Outlook (Revenue, USD Million, 2016 – 2027)
• Breast cancer
• Lung cancer
• Colorectal cancer
• Ovarian cancer
• Prostate cancer
• Infectious Diseases
• Cardiovascular Diseases
• Central Nervous System Disorders
• Immunological Disorders
• Metabolic Disorders
• Gastrointestinal Disorders
• Respiratory Diseases
• Dermatology Disorders
Germany Pharmaceuticals Type Outlook (Revenue, USD Million, 2016 – 2027)
Germany Pharmaceuticals Formulation Outlook (Revenue, USD Million, 2016 – 2027)
• Solid formulation
• Liquid & semi-liquid formulation
• Sublingual and buccal
List of Key Players of Germany Pharmaceuticals Market
• Boehringer Ingelheim International GmbH
• Bayer AG
• Merck & Co., Inc.
• Fresenius Kabi AG
• STADA Arzneimittel AG
• Pfizer Inc.
• Abbvie Inc.
• Teva Pharmaceutical Industries Ltd.
• Novartis AG
• Johnson & Johnson Services, Inc.
• GlaxoSmithKline plc
• Celgene Corporation
• Amgen Inc.
• Novo Nordisk A/S
• Eli Lilly and Company
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