Germany has consolidated itself as a world leader in pharma, according to research conducted by industry event, CPhI Worlwide.
The ‘CPhI Pharma Index’ ranks the world’s top performing countries. It provides insights into the world’s leading pharma economies across all attributes, and indicates which markets have the greatest business prospects and growth potential.
The results see Germany consolidate its status as an elite pharmaceutical market, finishing ahead of its European rivals in API Manufacturing (7.88), competitiveness (6.48), innovation (7.49) finished product manufacturing (8.02), and growth potential (6.92).
One of the most notable trends is the sudden rise in anticipated growth potential for Germany in 2019/2020, increasing by 11% from 2018.
The research’s authors attribute the shifting European outlook over the last couple of years to wider macro changes, as well as the continued strength of European pharma.
Germany is perceived to be reaping a ‘Brexit boost’ in its medium-term growth potential – with an equal drop in the UK scores directly correlating to the increases seen in Germany’s.
“It is no surprise that Germany has again emerged as a global pharmaceutical leader. However, the country has further increased its score, suggesting it has consolidated its position as Europe’s top pharma industry,” said Orhan Caglayan, Brand Director at CPhI Worldwide.
“There are a number of leading German manufacturers and service providers in the pharmaceutical industry in attendance at CPhI Worldwide this year,” he added.
“In total, 223 German companies will be showcasing their strength to a global audience, with executives attending from over 150 countries.”