Europe Pharmaceutical Drugs Market Is Estimated To Witness High Growth Owing To Rising Prevalence Of Chronic Diseases

 

Europe Pharmaceutical Drugs Market 

Market Overview:

The Europe pharmaceutical drugs market deals with manufacturing and distribution of prescription and OTC drugs used for treating chronic and acute diseases prevalent across Europe. Key products in this market include drugs for treating cardiovascular diseases, cancer, diabetes, respiratory diseases, immunological diseases and CNS disorders. Pharmaceutical drugs enable improved quality of life by controlling symptoms, slowing disease progression and managing health conditions.

Market Dynamics:
The Europe pharmaceutical drugs market is being driven by rising prevalence of various chronic diseases such as cancer, cardiovascular diseases and diabetes. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of mortality in Europe, responsible for over 4 million deaths annually. Moreover, increasing geriatric population in European countries is also contributing to high incidence of chronic ailments, thereby propelling market growth.

Another factor promoting the Europe pharmaceutical drugs market growth is heavy investments in R&D by major players for development of novel drugs and therapies. For instance, Pfizer Inc. invested US$ 8 billion in R&D during 2019, while Roche invested US$ 11.7 billion. Ongoing clinical trials and new drug approvals are also boosting market revenues. However, risks of drug failures and stringent regulations for drug approval are some of the challenges faced by market players.

SWOT Analysis
Strength: Europe Pharmaceutical Drugs Market Share has strong presence of leading pharmaceutical companies and manufactures. The region has highly skilled workforce and advanced infrastructure for drug development. Stringent regulations ensure safety and efficacy of drugs.
Weakness: High development and manufacturing costs of drugs make the drugs expensive. Supply chain disruption due to COVID-19 pandemic affected the production and distribution of drugs in the region.
Opportunity: Growing geriatric population increases the demand for chronic ailments treatment drugs. Emergence of biosimilars provides cost-effective treatment options for patients.
Threats: Patent expiration of blockbuster drugs and introduction of generics erode the sales and market share of incumbent companies. Stringent regulations for approval delay market entry of new drugs.

Key Takeaways
The global Europe pharmaceutical drugs market is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing prevalence of chronic diseases. Chronic diseases such as cancer, diabetes, cardiovascular diseases are major health burden requiring long term medicinal treatment.

Regional analysis
Germany dominates the Europe pharmaceutical drugs market owing to presence of leading drug manufacturers. Germany accounted for over 20% of market share in 2023. UK pharmaceutical drugs market is expected to grow at fastest pace during forecast period supported by increasing healthcare spending and demand for specialty medicines.

Key players
Key players operating in the Europe pharmaceutical drugs market are Allergan plc. (A subsidiary of AbbVie Inc.), Novo Nordisk A/S, Boehringer Ingelheim International GmbH, Merck KGaA, GSK plc., AstraZeneca., Baxter, Novartis AG, F. Hoffmann-La Roche Limited, Shire (A subsidiary of Takeda Pharmaceutical Company Limited) and Sanofi. The key players focus on new drug development and product launches to strengthen their product portfolio and market share.

For more insights, Read- https://www.pressreleasebulletin.com/europe-pharmaceutical-drugs-market-size-and-share/

Comments

Post a Comment

Popular posts from this blog

Precast Concrete Market Is Estimated To Witness High Growth Owing To Increasing Demand for Sustainable Construction Practices

Image
Precast Concrete Market Market Overview: The Precast Concrete Market is witnessing significant growth due to the increasing demand for sustainable construction practices. Precast concrete products are prefabricated in controlled factory conditions, offering several advantages such as improved quality control, reduced construction time, and increased durability. These products are widely used in residential, commercial, and infrastructure projects due to their ability to enhance construction efficiency and productivity. With the growing need for energy-efficient and environmentally friendly buildings, the demand for precast concrete products is expected to rise. Market Key Trends: One key trend in the Precast Concrete Market is the adoption of advanced technology in manufacturing processes. The use of computer-aided design (CAD) and building information modeling (BIM) is enabling manufacturers to produce complex and customized precast concrete products with high precision. Additional
Read more

Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Growth driven by increased adoption of targeted therapies

Image
Relapsed Or Refractory Diffuse Large B Cell Lymphoma Market Market Overview: Relapsed Or Refractory Diffuse Large B Cell Lymphoma (R/R DLBCL) is an aggressive fast-growing type of non-Hodgkin's lymphoma (NHL) cancer that generally affects immune system cells called B cells. DLBCL can occur at any age but is most common in older adults. Novel targeted therapies like chimeric antigen receptor (CAR) T-cell therapies, bispecific antibodies and antibody-drug conjugates are revolutionizing the treatment of R/R DLBCL. These advanced therapies are offering new hope to patients by increasing survival rates. Market key trends: One of the key trends in the R/R DLBCL market is the increasing adoption of CAR T-cell therapies. CAR T-cell therapy is an innovative new approach to treating R/R DLBCL through the use of genetically engineered T-cells. Drugs like Kymriah and Yescarta have proven highly effective in treating certain patients with relapsed or refractory forms of large B-cell lymphoma.
Read more

The global Biopharmaceuticals Market connected with therapeutic biologics

Image
Biopharmaceuticals Market Market Overview: The biopharmaceuticals market comprises medicines produced using biotechnology methods like genetic engineering and includes vaccines, blood components, recombinant therapeutic proteins/antibodies, and monoclonal antibodies. Biopharmaceuticals are often used for treating serious medical conditions like cancer, autoimmune diseases, and other chronic disorders. These drugs provide targeted treatment options and have lesser side effects than traditional small-molecule drugs. The market is witnessing high demand due to increasing prevalence of chronic diseases and growing geriatric population globally. Market key trends: One of the key trends gaining traction in The Biopharmaceuticals Market Demand is the increasing adoption of biosimilars. Biosimilars are quasi-generic versions of original biologics and provide more affordable treatment options when the patents of biologics expire. Regulatory agencies in various regions are also approving bios
Read more