(Health-NewsWire.Net, January 18, 2022 ) Germany Pharmaceuticals Market size is estimated to reach $61.6 billion by 2026, growing at a CAGR of 6.3% during the forecast period 2021-2026. Pharmaceuticals are drugs used in the diagnosis, treatment, and prevention of the diseases. Pharmaceutical products are increasingly being adopted among consumers in the country owing to the growing prevalence of various diseases and the rise in awareness about the availability of different drugs for various cancers. The rise in focus on developing advanced Bronchodilators to meet the growing demand from asthma patients in the country, increase in awareness about the benefits of immunosuppressant, rise in the demand for Camostat mesylate inhibitors, and the growing investment by the key players to develop advanced pharmaceutical products are the factors that are set to drive the growth of the Germany Pharmaceuticals Market for the period 2021-2026.
Germany Pharmaceuticals Market Segment Analysis-By Drug Class
Germany Pharmaceuticals Market based on the Drug Class can be further segmented into Anti-Cancer, Anti-Rheumatics, Anti-Diabetes, Anti-Viral, Vaccines, Immunosuppressant, and Others. The Anti-Cancer segment held the largest share owing to the factors such as the rise in the prevalence of cancer cases in the country and the presence of key players in the county. The growing commercialization of novel drugs for treating various cancers in the country is driving the growth of the Germany Pharmaceuticals Market. The Immunosuppressant segment is estimated to be the fastest-growing segment with a CAGR of 6.7% over the period 2021-2026. This growth is owing to the factors such as the growing investment by the key players to develop advanced immunosuppressants and the increase in awareness about the benefits of immunosuppressants.
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Germany Pharmaceuticals Market Segment Analysis-By Application
Germany Pharmaceuticals Market based on the Application can be further segmented into Oncology, Infectious Diseases, Central Nervous System Disorders, Cardiovascular Diseases, and Others. The Oncology segment held the largest share in 2020 owing to the factors such as the growing focus on developing new drugs to enhance the availability of prescription drugs and the rise in product launches by the key players. The growing demand for Bronchodilator drug types is driving the growth of the Germany Pharmaceuticals Market. The Infectious Diseases segment is estimated to be the fastest-growing segment with a CAGR of 6.9% over the period 2021-2026. This growth is owing to the factors such as the growing demand for advanced pharmaceuticals for the treatment of infectious diseases and the rise in awareness about the availability of pharmaceuticals for various infectious diseases.
Germany Pharmaceuticals Market Drivers
Increase in the Adoption of Bronchodilators
Bronchodilators are extensively being adopted in the country to make breathing easier by widening the airways and relaxing the muscles in the lungs. The key players across the world are focusing on developing advanced Bronchodilators to meet the growing demand from asthma patients in the country, which is one of the major factors driving the growth of the Germany Pharmaceuticals Market.
Rise in the Demand for Camostat Mesylate Inhibitors
Camostat mesylate inhibitors are transmembrane protease serine 2 inhibitors that are being developed to protect the body against the coronavirus by preventing the attachment of S protein. Camostat mesylate inhibitors are orally synthetic and bioavailable protease inhibitors with potential antiviral, anti-inflammatory, and antifibrotic activities. Moreover, manufacturers are extensively focusing on developing Camostat mesylate inhibitors to meet the growing demand, which is further propelling the growth of the Germany Pharmaceuticals Market.
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Germany Pharmaceuticals Market Challenges
High Cost of Raw Materials used in the Production of Pharmaceuticals
The key players in the market are increasing their investment to carry out various research and development activities for developing Camostat mesylate inhibitors and Bronchodilators. However, the high cost of raw materials used in the production of pharmaceuticals is one of the major factors that is estimated to reduce the growth of the Germany Pharmaceuticals Market.
Germany Pharmaceuticals Market Competitive Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Germany Pharmaceuticals Market. Key companies of this market are Bayer AG, Merck KGaA, Pfizer, Novartis AG, Bausch Health Companies Inc, Teva Pharmaceutical Industries Ltd, Abbott Laboratories, AbbVie, Boehringer Ingelheim, and Fresenius Kabi among others.
In February 2021, Bayer AG has entered into a partnership with biotech company CureVac for producing an experimental COVID-19 vaccine to boost vaccine supplies. The company is planning to produce 160 million doses of the vaccine by 2022.
In February 2021, Pfizer has entered into a partnership with Vaccine developer BioNTech for producing vaccines at a new facility in the town of Marburg. The company is also planning to boost the EU's vaccine supply.
In January 2021, Merck KGaA has entered into a partnership with precision medicine company Nucleai to develop anti-cancer drugs and to leverage the biomarker discovery platform and Nucleai's image analysis.
The increase in the commercialization of novel drugs for treating various cancers in the country is driving the Anti-Cancer segment. However, the high cost of raw materials used in the production of pharmaceuticals is one of the major factors that is said to reduce the growth of the Germany Pharmaceuticals Market.
The rise in investments by the key players in the country to develop advanced immunosuppressants and the increasing focus on developing advanced Bronchodilators to meet the growing demand from asthma patients in the country are the major factors driving the growth of the Germany Pharmaceuticals Market.
Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Germany Pharmaceuticals Market report.
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