Germany consolidates position as top pharma market in EU
Germany has consolidated its position as Europe’s largest pharma market, while the UK has slipped because of Brexit uncertainty, according to new report.
The CPhl Pharma Index was drawn from opinions from more than 350 international pharma companies gathered over the last year.
A perception ranking of the top performing countries, the report provides insights into the world’s leading pharma economies based on a series of attributes, and indicates which markets have the greatest business prospects and growth potential.
The results see Germany consolidate its status as an elite pharmaceutical market, finishing ahead of its European rivals in API manufacturing (7.88), competitiveness (6.48), innovation (7.49) finished product manufacturing (8.02), and growth potential (6.92).
One of the most notable trends is the sudden rise in anticipated growth potential for Germany in 2019/2020, increasing by 11% from 2018.
The research’s authors attribute the shifting European outlook over the last couple of years to wider macro changes, as well as the continued strength of European pharma.
Germany is perceived to be reaping a ‘Brexit boost’ in its medium-term growth potential – with an equal drop in the UK scores directly correlating to the increases seen in Germany’s.
Orhan Caglayan, brand director at CPhI Worldwide said: “It is no surprise that Germany has again emerged as a global pharmaceutical leader. However, the country has further increased its score, suggesting it has consolidated its position as Europe’s top pharma industry.”
The full CPhI Pharma Market Index will be made available later in the year within its 2019 Annual Industry Report.
The report was published in yet another tumultuous week in British politics, where Boris Johnson threatened to pull the latest Brexit deal if opposition leader Jeremy Corbyn rejects a general election.
Don't miss your daily pharmaphorum news.
SUBSCRIBE free here.