Germany's stable economy will drive pharma market at 4.9% CAGR
The German pharmaceuticals market is set to rise from $67.9 billion (52.9 billion euros) in 2016 to around $86.3 billion in 2021, representing a compound annual growth rate of 4.9%.
According to research and consulting firm GlobalData’s latest report Germany’s mature healthcare market, which is the largest of all European Union member states, will be driven by an increasing elderly population and associated disease burden, while government initiatives to reduce healthcare expenditure will limit growth.
As part of the Eurozone’s austerity measures, the German government is focused on reducing healthcare expenditure by regulating reimbursement and pricing policies through cost-benefit analysis, reference pricing, and analysis of the therapeutic characteristics of medicines, in an attempt to maintain the country’s economic stability.
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