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Germany’s pharma market set for stable growth

Annual growth of 4.9% expected over next four years

German flag The German pharmaceutical market is set for a period of stable growth in the face of cost-cutting measures that will target healthcare costs.

Analysts expect the market will rise from $67.9bn (€52.9bn) in 2016 to around $86.3bn (€67.2bn) in 2021, putting it on course for a compound annual growth rate of 4.9%.

The report from research and consulting firm GlobalData also suggests Germany’s mature healthcare market - the largest in the EU - will be driven by an ageing population and associated disease burden, but government initiatives to reduce healthcare expenditure will limit its growth.

As part of the Eurozone’s austerity measures, the government is set to focus on reducing healthcare expenditure by regulating reimbursement and pricing policies through cost-benefit analysis and reference pricing.

The authorities will also be looking to analyse the ‘therapeutic characteristics of medicines’ in an attempt to maintain the country’s economic stability.

However, Germany’s environment has remained stable despite Eurozone pressures and the country has allowed for sustained economic growth and an attractive base for pharma companies..

For non-domestic firms the country’s relatively transparent regulatory system, where the foreign investment landscape is one of the least restrictive in the world, adds to its attractiveness.

Biopharmaceuticals is a strong sector for Germany, something the government is keen to continue and it provides infrastructure support for domestic as well as foreign multinationals to open new manufacturing centres, and to expand existing R&D sites.

Article by
Gemma Jones

24th May 2017

From: Sales

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