The Europe drug discovery market is anticipated to project a CAGR of 6.90% during the forecast period, 2022-2030. The rising collaborations for drug discovery and development, advanced technologies, and increased R&D expenses influence market growth in the region.
Italy, Russia, France, Germany, the United Kingdom, Spain, Scandinavia, and Rest of Europe are analyzed for the Europe drug discovery market growth evaluation. In Germany, the pharmaceutical industry is witnessing increasing investments. Also, in 2019 the research-based pharmaceutical companies financed 499 clinical trials. In the same year, companies in pharma R&D were developing 640 biologics in clinical development, out of which 82% of Phase III assets were new biological entities. Biologicals development majorly prioritizes infectious diseases, immunology, and oncology.
In Italy, AIFA (Italian Medicines Agency) is the national authority that overlooks drugs regulations. It operates transparently and autonomously, adhering to the cost-effectiveness aspect, under the direction and vigilance of the Ministry of Health and the Ministry of Economy. Spain is a conducive country for developing clinical trials for new drugs. Its research and development model for new medicines is collaborative and gaining international prospects. Such aspects bring about research investment by pharmaceutical companies in the country.
Furthermore, high-end technological advancements, a skilled workforce, and the presence of prominent pharmaceutical players render Europe one of the leading markets for drug discovery. The presence of the European Medical Agency (EMA) and the European Commission laws further contribute to the region’s market prospects.
Some of the major companies operating in the market include Novartis AG, Johnson & Johnson, Merck & Co Inc, Pfizer Inc, etc.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments