EUROPE PHARMACEUTICAL DRUGS MARKET ANALYSIS

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Europe Pharmaceutical Drugs Market : Key Developments

• On March 31, 2023, Sartorius AG, an international pharmaceutical and laboratory equipment supplier, through its French listed subgroup Sartorius Stedim Biotech, signed an agreement to acquire Polyplus-a provider of upstream technologies for cell and gene therapies, based in France for approximately US$ 2.5 billion (2.4 million euros). The acquisition would allow the company to optimize the total process workflow to deliver elevated value for cell/gene and DNA/RNA therapy customers.
• On March 10, 2023, Sumitovant Biopharma, Inc., a technology-driven biopharmaceutical company that specializes in the development and commercialization of new potential therapies for patients with rare conditions and other diseases, announced that it has completed its acquisition of Myovant Sciences GmbH- a lifesciences and biotech company, with global headquarters in Basel, Switzerland, that develops new treatments for infertility in women and prostate cancer in men. The acquisition will allow Sumitovant Biopharma,Inc. to accelerate the development of its product line.
• On June 7, 2023, the U.K government launched two-year pilot program that will allow Wegovy, a weight loss drug manufactured by Novo Nordisk’s A/S- a Denmark based multinational pharmaceutical company, to be begin its clinical trial in the U.K.
• On May 6, 2023, Merck and Co.- a Germany based pharmaceutical company started the Phase 3 trial of their pulmonary arterial hypertension drug Sotatercept.

Europe Pharmaceuticals Drugs Market  Segmentation:

The Europe pharmaceutical drugs market is segmented into Drug Type, Product Type, Application, Distribution Channel, and Country.

Based on Drug Type, The Europe pharmaceutical drugs market is divided between generic and branded medications. The branded category is likely to dominate the market throughout the forecast period, owing to the safety, quality, and efficacy of branded pharmaceuticals.

Based on Product Type, The Europe pharmaceuticals drug market is divided into two categories: prescription drugs and over-the-counter (OTC). The prescription drug sector is likely to dominate the market throughout the forecast period, owing to its more hospitalizations , convenience of availability in hospitals, and increased approval for.

Based on Application, The Europe pharmaceuticals drug market is divided into Cardiovascular, Musculoskeletal, Oncology, Anti-infective, Metabolic Disorder, Central Nervous System, Genito-urinary, Gastrointestinal, Respiratory, Haematology, Dermatology, Ophthalmology Diagnostic Services, and Surgical Services. The cardiovascular category is likely to lead the market throughout the forecast period, owing to the greatest prevalence of circulatory illnesses in Europe.

Based on Distribution channel, Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy are the three segments that make up the Europe pharmaceutical drugs market. Due to the growing number of hospitalizations and the rising aging population in European countries, the hospital pharmacy segment is anticipated to dominate the market during the forecast period.