EUROPE PHARMACEUTICAL DRUGS MARKET ANALYSIS

Europe Pharmaceutical Drugs Market,Drug Type (Generic Drugs and Branded Drugs), by Product Type (Prescription Drugs and Over the Counter Drugs), by Application (Cardiovascular, Musculoskeletal, Oncology, Anti-infective, Metabolic Disorder, Central Nervous System, Genito-urinary, Gastrointestinal, Respiratory, Hematology, Dermatology, Ophthalmology, and Others), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy) and by Country (Germany, France, U.K., Italy, Spain, Russia, The Netherlands, Poland, Switzerland, Sweden, and Rest of Europe)-

Published In : Jun 2023
Code : CMI3541
Pages :199
Formats :
Excel and PDF
Industry : Pharmaceutical

Market Challenges And Opportunities

Europe Pharmaceutical Drugs Market – Driver

Collaborations and launch of new products to expand product reach and portfolio

To expand markets internationally, Europe drug companies are focused on launching new products and collaborating with pharmaceutical companies across the globe to expand their product portfolio. For instance, on May 30, 2023, Sun Pharmaceutical Industries Ltd, an Indian multinational pharmaceutical company headquartered in Mumbai, announced that it has entered into a licensing pact with Philogen S.p.A, a Switzerland-based technology company, to commercialize an under-development skin cancer drug in Europe, Australia, and New Zealand. The companies have come together to commercialize Philogen's specialty product Nidlegy, an anti-cancer biopharmaceutical currently in Phase III clinical trials.

Europe Pharmaceutical Drugs Market : Restraint

Unfavorable drug regulations

Unfavorable drug regulations by Europe Union represent a major restraint on the growth of the Europe pharmaceutical drugs market. According to an article published in Pharmaceutical Journal on February 24, 2023, The European Federation of Pharmaceutical Industries and Associations (EFPIA), the trade organization for branded drugs, passed a statement saying proposals would irretrievably sabotage the EU pharma industry and send Europe to the back of the queue for healthcare treatments, clinical research, jobs, and global investment. Considerable resistance from pharmaceutical companies to reverse the changes in the regulatory guidelines can serve as a counterbalance to the restraint.

Restraints & Challenges: