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Europe Pharmaceutical Drugs Market - Allergan plc. , Novo Nordisk, Boehringer Ingelheim, Merck KGaA, GlaxoSmithKline Plc. , AstraZeneca Plc, Baxter AG, Novartis AG, F. Hoffmann-La Roche Ltd, Shire, and Sanofi

08-06-2021 06:44 AM CET | Health & Medicine

Press release from: Coherent Market Insights

Europe Pharmaceutical Drugs

Europe Pharmaceutical Drugs

Expanding pharmaceutical industry in the Europe region is significantly contributing to the growth of the Europe pharmaceutical drugs market. According to the annual report of the Association of the Italian pharmaceutical industry (Farmindustria), Italy has overtaken Germany and is currently n.1 in the European Union for the value of pharmaceutical production (€ 31.2 billion, vs € 30.5 billion for Germany). Also, Pharmaceutical expenditure in Italy amounted to € 290 pro-capita in 2017, 12% less than the mean of the other European big-5 countries (€ 400) and 27% less than Germany (€ 527). All these factors together propelling the growth of the Europe pharmaceutical drugs market.

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As per the stat by The European Federation of Pharmaceutical Industries and Associations, in 2017 the pharmaceutical industry has invested more than € 35,300 million in R&D in Europe.

Pharmaceutical Drugs are chemical substances used in the manufacture of medicines to cure, alleviate, prevent or alleviate disease. The medicine is usually a compound prepared from chemicals in a pharmaceutical lab for therapeutic or remedial purposes. The chemical name of any drug can be referred to as its chemical substance or generic name. Pharmaceutical Drugs are present naturally in food, plants, and cells in various living organisms. They are also produced in factories and by the metabolic processes in living organisms.

Pharmaceutical drugs is classified into two major groups, namely drug families and drug classes. A drug family is a group of chemically related molecules, i.e., a group of compounds having similar structural features and effects. A drug family may have no similarities with other molecules or may display similarities with other but not the same structural feature. On the other hand, a drug class is a set of drugs, i.e., may have diverse compositions and effects that may be similar or identical to other classes of drugs

Key Developments:

In December 2020, SeQuent Scientific Ltd announced the launch of veterinary medicine Halofusol in 19 European countries

In February 2020, Sanofi announced its plans to create a major leading European company dedicated to the production and marketing to third parties of active pharmaceutical ingredients (API), which are the essential molecules responsible for the beneficial effects used in the composition of any drug.

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COVID-19 Impact:

The outbreak of COVID-19 has placed an economic burden on the healthcare sector. Private healthcare is one of the major sectors affected by the global pandemic. Moreover, the pandemic has affected the supply, production, and development of drugs and other healthcare products. Thus, the emergence of COVID-19 is expected to hamper the global Europe Pharmaceutical Drugs Market growth over the forecast period.

Market-research techniques encompass qualitative techniques. The report helps the user to strengthen decisive power to plan their strategic moves to launch or expand their businesses by offering them a clear picture of this market. Europe Pharmaceutical Drugs Market Research Report gives current competitive analysis and also valuable insights to clients/industries, which will assist them to prepare a new strategy to expand or penetrate in a global Europe Pharmaceutical Drugs Market.

Major Key Players Are: Allergan plc. , Novo Nordisk, Boehringer Ingelheim, Merck KGaA, GlaxoSmithKline Plc. , AstraZeneca Plc, Baxter AG, Novartis AG, F. Hoffmann-La Roche Ltd, Shire, and Sanofi

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Coherent Market Insights
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Seattle, WA 98154
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com

About Coherent Market Insights

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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