The Germany pharmaceuticals market size is expected to reach USD 65.9 billion by 2027, expanding at a CAGR of 6.0%, according to a new report by Grand View Research, Inc. Factors such as the rising prevalence of acute and chronic diseases and increasing R&D expenditure by pharmaceutical companies are expected to drive the market.
Furthermore, rising clinical trials and approval of novel immune-suppressive therapies are anticipated to propel market growth. For instance, in June 2020, Sandoz International GmbH launched Dailiport capsules (generic tacrolimus) in Germany and other European countries. Dailiport capsules are indicated for adult kidney and liver transplant patients.
In addition, the export of pharmaceutical products by pharmaceutical companies in Germany to various countries is expected to fuel market growth. For instance, according to Germany Trade and Invest, in China, 22.0% of imported pharmaceutical products are from German companies.
Key players entering into strategic initiatives such as partnership, licensing, acquisition, and collaboration to expand and strengthen their regional presence is expected to boost the market growth. For instance, in November 2019, Bristol-Myers Squibb Company acquired Celgene Corporation. This acquisition was aimed at helping the company expand its oncology portfolio worldwide and develop innovative medicines.
In addition, rising funds by organizations for the development of pipeline drugs are anticipated to accelerate market growth. For instance, in January 2019, Atriva Therapeutics GmbH closed its series A financing led by Meneldor and High-Tech Gründerfonds GmbH (HTGF) for its lead drug candidate ATR-002. This drug candidate is developed against influenza infection and other respiratory infections.
Various other organizations, such as the European Cancer Organisation (ECCO), European Cancer Patient Coalition (ECPC), and European Organisation for Research and Treatment of Cancer (EORTC) provide funds for cancer research programs and treatment plans.
Furthermore, increasing the availability of generic drugs at a lower price is expected to boost the market growth. For instance, in July 2019, Sandoz of Novartis AG launched a generic version of gefitinib for locally advanced or metastatic NSCLC. The launch of the generic version is estimated to increase the number of patients treated due to the favorable cost of the drug.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/germany-pharmaceuticals-market
Germany Pharmaceuticals Market Report Highlights
• In 2019, anti-cancer was the largest-revenue holding drug class in the market owing to rising approval of new drugs and increasing research studies on new approaches to treating various cancers
• Immunosuppressant product type is estimated to be the fastest-growing drug class during the forecast period owing to rising development and launch of novel immunosuppressant
• Oncology application held the largest revenue share in 2019 due to the increasing prevalence of breast cancer, prostate cancer, and lung cancer
• On the basis of type, the generic drugs segment is expected to be the fastest-growing segment over the forecast period due to its cost-effectiveness and expiration of patents.
For Requesting a Sample Copy of This Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/germany-pharmaceuticals-market/request/rs1
Germany Pharmaceuticals Market Segmentation
Grand View Research 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
Inquire more or share questions if any before the purchase on this report @ https://www.grandviewresearch.com/inquiry/450879/ibb
Browse More Related Report:
Cannabis Pharmaceuticals Market Size, Share & Trends Analysis Report By Brand (Epidiolex, Sativex), By Region (North America, Europe, Asia Pacific, Latin America & MEA), And Segment Forecasts, 2020 – 2027
About Grand View Research
Grand View Research is a market research and consulting company that offers market research reports, syndicated and customized reports. The company is headquartered in San Francisco, California. It offers client engagement for business consulting and market intelligence from various domains. The clientele is based across various countries with queries coming from more than 50 industries worldwide.
Grand View Research helps its clients to make informed decisions by helping them understand current trends and scenarios. Every year Grand View Research accomplishes more than 300 multi-country market studies to optimize consulting for clients.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States