Italy is leading country for the Europe Pharmaceutical Drugs market in terms of drugs production

 

Europe Pharmaceutical Drugs Market

Key players operating in the Europe Pharmaceutical Drugs market include Novo Nordisk, Allergan plc, Boehringer Ingelheim, GlaxoSmithKline Plc., AstraZeneca Plc, Merck KGaA, Baxter AG, Novartis AG, F. Hoffmann-La Roche Ltd, Shire, and Sanofi.

Expanding pharmaceutical industry in the Europe region is significantly contributing to the growth of the Europe pharmaceutical drugs market.  According to the annual report of the Association of the Italian pharmaceutical industry (Farmindustria), Italy has overtaken Germany and is currently n.1 in the European Union for the value of pharmaceutical production (€ 31.2 billion, vs € 30.5 billion for Germany). Also, Pharmaceutical expenditure in Italy amounted to € 290 pro-capita in 2017, 12% less than the mean of the other European big-5 countries (€ 400) and 27% less than Germany (€ 527). All these factors together propelling the growth of the Europe pharmaceutical drugs market.

As per the stat by The European Federation of Pharmaceutical Industries and Associations, in 2017 the pharmaceutical industry has invested more than € 35,300 million in R&D in Europe.

Pharmaceutical Drugs are chemical substances used in the manufacture of medicines to cure, alleviate, prevent or alleviate disease. The medicine is usually a compound prepared from chemicals in a pharmaceutical lab for therapeutic or remedial purposes. The chemical name of any drug can be referred to as its chemical substance or generic name. Pharmaceutical Drugs are present naturally in food, plants, and cells in various living organisms. They are also produced in factories and by the metabolic processes in living organisms.

Pharmaceutical drugs is classified into two major groups, namely drug families and drug classes. A drug family is a group of chemically related molecules, i.e., a group of compounds having similar structural features and effects. A drug family may have no similarities with other molecules or may display similarities with other but not the same structural feature. On the other hand, a drug class is a set of drugs, i.e., may have diverse compositions and effects that may be similar or identical to other classes of drugs

Key Developments:

1.      In December 2020, SeQuent Scientific Ltd announced the launch of veterinary medicine Halofusol in 19 European countries

2.      In February 2020, Sanofi announced its plans to create a major leading European company dedicated to the production and marketing to third parties of active pharmaceutical ingredients (API), which are the essential molecules responsible for the beneficial effects used in the composition of any drug.


Location: India

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