Growth of the global pharmaceuticals and medical equipment industry accelerated in 2018 on the back of strong performance of companies within Asia Pacific and Western Europe. Lucrative Asian markets, surging biologics production, and investment into innovative manufacturing are expected to ensure the category’s positive performance going forward. However, a deteriorating trade environment, and rising pricing pressures cloud the industry’s growth prospects.
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Industry 4.0 is gradually entering the world of pharmaceutical production and is expected to steadily transform the way the industry operates. Companies already embrace Industry 4.0 solutions, including intelligent factories, highly integrated, flexible IT and manufacturing systems.
Ageing societies are expected to ensure continuous consumption of high-value-added drugs, especially in areas such as oncology and diabetes. Thus, biologics is set to be among the fastest growing pharmaceutical categories.
Production of biosimilars is expected to be spurred by the loss of patent protection for bestselling biologics, government support programmes, and strong Asian biosimilar companies entering the competitive landscape.
Rising demand for biologics and increasing need for patient- friendly solutions are anticipated to drive the strong growth of drug-device combination products.
Rising government pressure to curb healthcare costs will continue to manifest in regulatory pricing pressures for the pharmaceuticals industry.