Mar 27, 2024
Germany - Europe's Largest Pharmaceutical Market
Germany stands out as a highly developed healthcare market and a key entry point to the EU single market for global firms. With a compound annual growth rate of 6.4% from 2017 to 2022, Germany's pharmaceutical sector thrives. Boasting a production value of $37.53 Bn in 2021, it ranks among Europe's top pharmaceutical production hubs. In 2021, pharmaceutical companies invested $9.44 Bn in R&D, surpassing all other European nations. Germany leads globally in pharmaceutical exports, reaching $110.20 Bn in 2021. Notably, 12.81% of Germany's GDP is dedicated to health expenditure, showcasing a robust commitment to healthcare.