UK pharmaceutical market set to grow to $43 billion by 2020; Report
The pharmaceutical market in the UK is set to grow from $28.8 billion in 2015 to around $43 billion by 2020, representing a compound annual growth rate (CAGR) of 8.4%, driven primarily by a robust life sciences industry.
According to research and consulting firm GlobalData’s latest report, the UK’s life sciences sector consists of just under 5,000 companies that develop, produce and market products and services in the pharmaceutical, medical device and biotechnology markets.
Adam Dion, GlobalData’s senior industry analyst, says the pharmaceutical sector is one of the most dynamic industries in the UK and is a major contributor to the country’s economy.
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