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CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Germany

Germany pharmaceutical market: $65 billion industry by 2020

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2014-02-12 09:23:01 - CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Germany - a new market research report on

In 2012, the Germany pharmaceutical market was valued at $51.5 billion (€40.5 billion). The market is expected to reach $65.6 billion (€51 billion) in 2020 at a Compound Annual Growth Rate (CAGR) of 3.3% during 2013–2020. Germany is the largest healthcare market among the European Union (EU) member states. The presence of well-established regulatory norms, government´s healthcare initiatives, and the availability of infrastructure to support pharmaceutical companies contribute towards market growth. The German government promotes the advancement of new, superior and innovative technologies in all sectors and industries including the pharmaceutical industry. Strong Research and Development (R&D) capabilities and availability of technically qualified professionals contribute towards the growth of the German healthcare set-up.

The German Research Foundation (Deutsch Forschung Gründung,



DFG) is a self-governing organization with the aim to encourage science and technology and consequently promote research. Growing prevalence of chronic ailments, along with the country´s increasing elderly population also account for growth of the German pharmaceutical market. Increased public awareness of health issues, a common regulatory procedure for the market authorization of drugs among the EU member states offers growth opportunities for the pharmaceutical market of Germany. Launch of novel products post 2014-2015 will also act as a market driver. With the growing demands of the eurozone, the government is focused on reducing the healthcare expenditure by regulating reimbursement and pricing policies through cost-benefit analysis, reference pricing, and analysis of the therapeutic characteristics of medicines in an attempt to maintain economic stability of Germany. This limits the growth opportunities. The devaluation of the Euro against the US dollar due to the eurozone crisis, over the past two to three years has limited the growth of the market in US dollar terms.

The German medical device market was worth approximately $22.1 billion in 2012 and is expected to grow to approximately $32.6 billion by 2020 at a projected CAGR of 5% over the 2013–2020. In terms of market share, cardiovascular devices (14%), in vitro diagnostics (11.3%) and orthopedic devices (10.8%) were the major segments in 2012. The key challenges faced by the German medical equipment industry are slow growth in the domestic market and pricing pressures from the German government.

With the country´s increasing elderly population and a growing awareness of chronic diseases, the medical care and diagnostic markets are expected to grow in the future. Analysis of the R&D projects being undertaken by German biotech companies suggests that approximately 110 products are in various phases of clinical development.

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