Europe Pharmaceutical Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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Europe Pharmaceutical Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : February, 2023 | Pharmaceutical

Report Digest

Europe Pharmaceutical Market: Overview

The Europe pharmaceutical market has been anticipated to grow at a significant speed in the forthcoming years. This market has been driven by the rising rate of healthcare expenditure, the emergence of biosimilars and biologics, and increasing investment for different R & D activities. In addition to this, supportive regulatory framework, as well as reimbursement policies, are also stimulating the adoption of pharmaceuticals in the Europe pharmaceutical market.

The impact of the outbreak of the COVID-19 has been different depending on the nature of the industries. The pandemic has adversely affected the drug prescription and rate of uptake because of the subsequent decrease in the diagnosis rate of the diseases, for example, cancer. For example, the uptake of novel medicines and biologics has experienced a decline in the year 2020. This decline is because of the decline in primary care drug prescriptions. The situation has worsened due to the shortage of drugs because of the imposition of lockdown by the government bodies to control the cases of the COVID-19 pandemic. These factors have been an adverse impact on the growth prospect in the Europe pharmaceutical market.

Europe Pharmaceutical Market: Key Trends

The European region has world-class hospitals, research institutes, and key pharmaceutical companies to provide a better environment in order to develop therapeutic and clinical innovations for life-threatening and rare diseases. Immunotherapies and cell and gene therapies have been considered as the fastest growing areas with respect to R & D activities. Further, these market segments have also received the highest possible investments in order to continue research activities. According to the therapeutic areas, central nervous system disorders and oncology have received the maximum funding to develop new therapies. 

The increasing rate of technological advancements is influencing the discovery and development of drugs along with different aspects of the chain of product supply. This also includes various features, for example, increasing safety and reducing manpower. In addition to this, it also helps to reduce the time, which is generally spent by a product in the supply chain. Further, there has been a significant rise in the use of different technologies, such as robotics and AI. This factor has been estimated to reduce the resources that are spent on the production and supply chain. Furthermore, rising concentration on different supply chains during the COVID-19 pandemic has improved the overall strength of the services. Thus, based on these factors, the Europe pharmaceutical market is likely to experience noticeable growth prospects in the years to come.

Europe has a highly complicated and variable reimbursement scenario, especially for generic medications. Different countries have published their own sets of rules related to reimbursement policies. This makes the uneven penetration of generic medications across the region. The countries with advanced healthcare systems provide essential medication at no or low cost to the people. Thus, based on these advanced healthcare facilities, the Europe pharmaceutical market has been estimated to experience significant growth opportunities.

Europe Pharmaceutical Market: Competitive Dynamics and Key Developments

The key players operating in the Europe pharmaceutical market have been incorporating different strategies to boost the growth opportunities in the forthcoming years. Strategic collaborations, geographical expansion, product approvals, mergers, acquisitions, partnerships, and novel product launches are used by the major companies to create expansion avenues in the market. Further, strong competition among the established market players for product launching is anticipated to fuel growth prospects in the market. The key companies in the proactive optimization of portfolios and business mix are also creating growth opportunities in the market.

Some key players in the Europe pharmaceutical market are:

  • Boehringer Ingelheim GmbH
  • Sanofi
  • Pfizer Inc.
  • Merck & Co., Inc.
  • GlaxoSmithKline plc.
  • Gilead Sciences, Inc.
  • Novartis AG
  • AstraZeneca plc
  • Bristol-Myers Squibb Company

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?