Oct 16, 2017   SOURCE: PR NewsWire

GervanoRA Data Services (GDS) Projects Germany's Pharmaceutical Market is the Largest in Europe and is Expected to Reach $63.3 Billion by 2022

GOA, India, October 16, 2017 /PRNewswire/ --

According to a new country specific report "GER0004CI Germany Insights: Healthcare

Industry, Policies, Regulations and PESTLE Analysis" published by GervanoRA Data

Services

(GDS), Germany' pharmaceutical market is expected to reach $63.3 billion by 2022.

Germany's healthcare market is the largest in Europe and fourth largest in the

world.

The market is expected to be driven by the robust healthcare system, strong patent

policies, high healthcare expenditure and well established regulatory procedures.

However,

government's initiatives like AMNOG and growing generics market will hinder this

growth.

Ramu Jadhav, Managing Director of life sciences at GDS commented, "Germany is the

third largest medical device market in the world after the U.S. and Japan and is

estimated

to reach $43.9 bn by 2022. The medical device market accounts for 40% of the EU

market."

Jadhav continued: "The Statutory Health Insurance (SHI) covering around 90% of the

population and the government expenditure of approximately 11.3% of GDP on healthcare

system, one of the highest in European countries drives the healthcare market. Germany

ranks fourth globally with 1,183 patent applications submitted to the European Patent

Office in the field of biotechnology and pharmaceuticals in 2015." Growing patent

applications will introduce more new drugs in Germany during the forecast period and is

expected to increase the patent drug market.

German government's Act of reform of medicinal products

(Arzneimittelmarkt-Neuordnungsgesetz - AMNOG), a law initiated in 2011 to restructure

the

pharmaceutical market act as a barrier for the pharmaceutical market. The Act aims to

limit the cost of pharmaceuticals and to reduce the growing drug expenditures in the

public health sector. The Act hence obliges pharmaceutical companies to subject their

new

products to an early evaluation of their additional benefit by the Federal Joint

Committee

(Gemeinsamer Bundesausschuss - G-BA) after being launched on the market. The measures

have

not been welcomed by most drug manufacturers.

Jadhav added: "The government's drug price freezes, growing generic market and

limited

drug availability in the mandatory health insurance will also hinder the growth."

To read GervanoRA's Germany Insights full report, please visit:

https://www.gervanora.com/index.php/ger0004ci

About GervanoRA

GervanoRA Data Services LLP is a premier provider of syndicated research reports,

custom research reports and consulting services, based in Goa, India. GDS aims to

deliver

a complete packaged solution, which combines current market intelligence, statistical

anecdotes, technology inputs, valuable growth insights, aerial views of the competitive

framework, and future market trends.

At GervanoRA Data Services, we're playing our part to help clients stay ahead of

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are more enlightening them on domine specific live updates through our GervanoRA 360[o]

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SOURCE GervanoRA Data Services LLP