Industry revenue of »manufacture of pharmaceutical preparations« in Hungary 2011-2023

The pharmaceutical industry in Hungary is one of the largest in Eastern Europe, and forms a vital part of the Hungarian economy, accounting for 7.5 percent of the GDP in 2018. Key reasons for the industry’s growth include favourable investments in new production systems, increasing research activity and the growing use of automation technology. The industry is highly concentrated and manufacturers such as Novartis, Richter, Sanofi, GSK and Roche account for nearly 90 percent of the market share. Additionally, there are over ten licensed pharmaceutical distributors in the country, with Phoenix being the largest, accounting for nearly 30 percent of the market share, as per data from export.gov. As of 2017, the industry employed over 29,000 individuals.

The value of pharmaceutical products exported from Hungary amounted to over 5.3 billion euros in 2018, with medicament mixtures valued the most, at over 3.2 billion euros, followed by human and animal blood and pharmaceutical goods. In comparison, imports were valued at 4.3 billion euros during the same period.

Industry revenue of »manufacture of pharmaceutical preparations« in Hungary from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Hungary. The industry “manufacture of pharmaceutical preparations“ has the code “C212“.

Details on the methodology can be found here.

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