European pharma market to grow to 206 billion euros in 2022; Report

Forecasts indicate that the European pharmaceutical market is set to grow from 169 billion euros in 2015 to 206 billion euros ($229.5 billion) in 2022, exhibiting a compound annual growth rate of 3.25 over the period.

According to a new report from life science market intelligence company Evaluate, growth is largely due to innovations in oncology, although step-change advances are also emerging across other therapy areas including multiple sclerosis, chronic heart failure, rheumatoid arthritis and Alzheimer’s. The report is the first to analyze the European drug market to 2022, based on consensus drug forecasts, utilizing data from Evaluate’s newly-launched “European Drug Forecasts” module.

“New innovations, leading to significantly improved patient outcomes, come with higher drug prices, physician’s willingness to prescribe, and, therefore, higher consensus drug forecasts,” said Antonio Iervolino, Evaluate’s head of forecasting.