Pharmaceuticals - Germany

  • Germany
  • Germany's Pharmaceuticals market is expected to achieve a revenue of US$39.71bn by 2024.
  • Among the various markets, Oncology Drugs are anticipated to hold the largest share with a projected market volume of US$7.10bn in the same year.
  • With an annual growth rate (CAGR 2024-2029) of 4.77%, the revenue is predicted to increase, resulting in a market volume of US$50.12bn by 2029.
  • When comparing globally, United States is expected to generate the highest revenue, amounting to US$630.30bn in 2024.
  • Germany's pharmaceutical market is dominated by a strong emphasis on research and development, leading to innovative drug discoveries and advancements in the healthcare industry.

Key regions: United States, China, Germany, Japan, Europe

 
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Analyst Opinion

The Pharmaceuticals market in Germany has been experiencing significant growth in the past few years.

Customer preferences:
Customers in Germany have been showing an increased interest in natural and herbal medicines, resulting in a rise in demand for alternative therapies and supplements. This trend is driven by a growing awareness of the potential side effects of traditional pharmaceuticals and a desire for more natural remedies. Additionally, there is a growing demand for personalized medicine, which tailors treatments to an individual's genetic makeup.

Trends in the market:
One of the major trends in the pharmaceutical market in Germany is the increasing focus on digitalization. This includes the use of electronic prescriptions, telemedicine, and digital health apps. This trend is driven by the need for more efficient and cost-effective healthcare services, as well as the growing availability of digital technologies. Another trend is the shift towards biosimilars, which are lower-cost alternatives to biologic drugs. This trend is driven by the need to reduce healthcare costs and improve access to treatments.

Local special circumstances:
Germany has a strong healthcare system, with universal coverage and a high level of public spending on healthcare. This has created a favorable environment for pharmaceutical companies, as there is a large market for their products. Additionally, Germany has a strong research and development sector, with many universities and research institutes focused on the life sciences.

Underlying macroeconomic factors:
The German economy has been performing well in recent years, with steady GDP growth and low unemployment. This has led to increased consumer spending on healthcare, including pharmaceuticals. Additionally, Germany has a large aging population, which is driving demand for healthcare services and products. However, there are also challenges facing the pharmaceutical market in Germany, including increasing competition from generic drugs and pressure to reduce healthcare costs.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.

Overview

  • Revenue
  • Analyst Opinion
  • Key Players
  • Global Comparison
  • Methodology
  • Key Market Indicators
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