September 13, 2011 10:08 ET

Pharmaceuticals Market in Western Europe to Reach $220 Billion

ROCKVILLE, MD--(Marketwire - Sep 13, 2011) - has announced the addition of the new report "The Outlook for Pharmaceuticals in Western Europe" to their collection of Generics Drugs market reports. For more information, visit

Market growth in the mature markets of Western Europe is assured over the coming years by the health needs of ageing populations, and will be driven by investment in innovative medicines, particularly in the hospital market. Growth, however, will be tempered somewhat by the effects of the global economic recession in the short term. The leading markets are projected to average a CAGR of 2.5% in US dollar terms up to 2016, to represent a combined pharmaceutical market value of over US$220 billion.

Demand for pharmaceutical products is set to increase over the coming years, in order to fulfill the health needs of the ageing population. Meanwhile, the trend towards generics is set to continue, with several major patent expiries coming up, and with more governments introducing or expanding generic substitution as a cost-containment measure.

Recent austerity measures, introduced to deal with the impact of the economic recession, have included drug price cuts or discounts in markets such as France, Germany, Greece, Italy and Spain. These price cuts will have an impact across Western Europe, as many other countries use a reference pricing system. These price cuts could limit market growth and there are also fears that lower prices could lead to higher levels of parallel exports.

The hospital market is expected to be the main driver of growth in Western European markets, with increasing investment in expensive, innovative products to treat chronic diseases, such as cancer. The investment from hospitals into new drugs will offset the falling prices of mature drugs which are soon to go off patent. There are opportunities to further explore biotechnology advances and reformulations, which will drive the market forward in the long term.

For more information, visit

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