Report : Europe Mid-Size Pharmaceutical Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Prescription and Over-the-Counter), Drug Development Type (In-House and Outsource), Formulation (Tablets and Capsules, Injectables, Sprays, and Other Formulations), and Therapy Class (Cardiovascular Diseases, Pain Management, Diabetes, Cancer, and Other Conditions)
At 6.1% CAGR, the Europe Mid-Size Pharmaceutical Market market is speculated to be worth US$ 2,88,168.27 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe mid-size pharmaceutical market market was valued at US$ 2,01,707.89 million in 2022 and is expected to reach US$ 4,61,269.34 million by 2028, registering an annual growth rate of 6.7% from 2022 to 2028. Rising prevalence of chronic disorders and benefits of the mid-size pharmaceutical market are the critical factors attributed to the market expansion.
The aging population and changes in social behavior contribute to the steady increase in these common and costly long-term health problems. With the accelerating urbanization, people are adopting a more sedentary lifestyle. This boosts obesity rates and cases of illnesses such as diabetes. Emerging markets will be hit hardest, as population growth is expected to be the strongest in developing countries. Increasing demand for health care systems due to chronic illnesses has become a major concern.
Diabetes is one of the biggest health problems of the 21st century. Every year, more and more people develop this condition, causing life-changing complications. The increase in disease prevalence is about 35% over the predicted period. The Pandemics have tested the rate at which infections unfold throughout the globe. Pandemics exert periodic and enormous disruptive strains on fitness systems. Healthcare establishments throughout the globe want to be geared up to collectively comprise outbreaks once they occur. Thus, the increasing prevalence of chronic disorders boosts the mid-size pharmaceutical market.
On the contrary, high competition among market players hurdles the growth of Europe mid-size pharmaceutical market market.
Based on type, the Europe mid-size pharmaceutical market is bifurcated into prescription and over-the-counter. The over-the-counter segment holds 63.2% market share in 2022, amassing US$ 1,27,473.81 million. It is projected to garner US$ 1,85,191.34 million by 2028 to expand at 6.4% CAGR during 2022–2028.
Based on drug development type, the Europe mid-size pharmaceutical market is bifurcated into in-house and outsource. The outsource segment holds 88.9% market share in 2022, amassing US$ 1,79,236.23 million. It is projected to garner US$ 2,61,233.78 million by 2028 to expand at 6.5% CAGR during 2022–2028.
Based on formulation, the Europe mid-size pharmaceutical market is segmented into tablets and capsules, injectables, sprays, and other formulations. With 35.8% share of the domain, the tablets and capsules segment dominates the market in 2022. It accrued US$ 72,145.95 million in 2022 and is estimated to generate US$ 1,07,189.07 million by 2028 to grow at a CAGR of 6.8% over the forecast period.
By therapy class, the Europe mid-size pharmaceutical market is segmented into cardiovascular diseases, pain management, diabetes, cancer, and other conditions. With 34.0% share of the domain, the diabetes segment dominates the market in 2022. It accrued US$ 68,634.66 million in 2022 and is estimated to generate US$ 99,259.92 million by 2028 to grow at a CAGR of 6.3% over the forecast period.
Our regional analysis states that Germany captured 27.4% market share in 2022. It is assessed at US$ 55,288.13 million in 2022 and is likely to hit US$ 82,300.86 million by 2028, exhibiting a CAGR of 6.9% during the forecast period.
Key players dominating the Europe mid-size pharmaceutical market market are Alexion Pharmaceuticals, Inc.; Bausch Health Companies Inc.; Daiichi Sankyo Company Limited; Eisai Co., Ltd.; Endo Pharmaceuticals Inc.; Les Laboratories Servier; Mallinckrodt; Regeneron Pharmaceuticals, Inc; Sun Pharmaceutical Industries Ltd; and UCB S.A. among others.
A few major key developments among the top market players are described below:
- In April 2022, Regeneron Pharmaceuticals, Inc. and Checkmate Pharmaceuticals, Inc. announced a definitive agreement for Regeneron to acquire Checkmate for $10.50 per share of Checkmate common stock in an all-cash transaction. Checkmate's entire stock value is estimated to be around $250 million in the proposed acquisition.
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