The expansion of the pharmaceutical industry in the Europe region contributes significantly to the growth of the European pharmaceutical drugs market. According to the annual report of the Association of the Italian Pharmaceutical Industry (Farmindustria), Italy has overtaken Germany and is currently No. 1 in the European Union for the value of pharmaceutical production (31.2 billion d euros, against 30.5 billion euros for Germany). In addition, pharmaceutical spending in Italy amounted to 290 â¬ pro-capita in 2017, 12% less than the average for other large European countries (400 â¬) and 27% less than in Germany (527 â¬). All of these factors together are propelling the growth of the European pharmaceutical drugs market.
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According to statistics from the European Federation of Pharmaceutical Industries and Associations, in 2017, the pharmaceutical industry invested more than 35,300 million euros in R&D in Europe.
Pharmaceutical drugs are chemicals used in the manufacture of drugs to cure, relieve, prevent or relieve disease. The drug is usually a compound prepared from chemicals in a pharmaceutical laboratory for therapeutic or curative purposes. The chemical name of any drug can be called its chemical substance or its generic name. Pharmaceutical drugs are found naturally in foods, plants and cells of various living organisms. They are also produced in factories and by the metabolic processes of living organisms.
Pharmaceutical drugs are classified into two broad groups, namely drug families and drug classes. A family of drugs is a group of chemically related molecules, that is, a group of compounds with similar structural characteristics and effects. A family of drugs may have no similarity to other molecules or may have similarities to others but not the same structural feature. On the other hand, a class of drugs is a collection of drugs, that is, it can have various compositions and effects which may be similar or identical to other classes of drugs.
In December 2020, SeQuent Scientific Ltd announced the launch of the veterinary drug Halofusol in 19 European countries
In February 2020, Sanofi announced its intention to create a large, leading European company dedicated to the production and marketing to third parties of active pharmaceutical ingredients (APIs), which are the essential molecules responsible for the beneficial effects entering into the composition of any drug.
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Impact of COVID-19:
The COVID-19 epidemic has imposed an economic burden on the health sector. Private health care is one of the main sectors affected by the global pandemic. In addition, the pandemic has affected the supply, production and development of drugs and other health products. Thus, the emergence of COVID-19 is expected to hamper the growth of the global pharmaceutical drugs market in Europe during the forecast period.
Market research techniques encompass qualitative techniques. The report helps the user to strengthen his decisive power to plan his strategic moves to launch or grow his business by giving him a clear picture of this market. The research report on Europe Pharmaceutical Drugs Market gives current competitive analysis as well as valuable insights to clients / industries, which will help them to prepare new strategy to grow or enter a global European Pharmaceutical Drugs Market.
The main key players are: Allergan plc. , Novo Nordisk, Boehringer Ingelheim, Merck KGaA, GlaxoSmithKline Plc. , AstraZeneca Plc, Baxter AG, Novartis AG, F. Hoffmann-La Roche Ltd, Shire and Sanofi
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