Healthcare Sales: Record Growth of the American Market
Q2-2019 confirms the particularly strong European performance of Pharma & Medical Equipment Sales
Published by Marcello Antonioni. .Health products Conjuncture Check performance Competitor analysis United States of America Foreign market analysis
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US Market: Record high
for Healthcare Sales in Q2-2019
The US market continues to offer significant growth opportunities for the Healthcare industry. Data released for H1-2019 (pre-estimates formulated by StudiaBo using foreign trade declarations of American companies collected by the U.S. Census Bureau), highlight a cumulative increase in US imports of Pharmaceuticals and Medical Equipment close to +16% in euro values (+9 % in dollars), and represents a new all-time high point in the quarterly levels at c. €42 billion ($47 billion). On an annual basis, US imports of Healthcare products reached a record value of almost €151 billion ($173 billion).
... with particularly strong growth
in European sales.
US imports of Healthcare products from EU countries showed particularly impressive performances: in Q2-2019, thanks to a year-on-year (Y-o-Y) growth of +23%, they reached a new absolute peak of €23 billion, equivalent to an annual value of approximately €82 billion, and surpassing the previous annual record of €76 billion set in 2018.
In H1-2019, there were four European countries among the top five most dynamic partner countries in the US Healthcare market. Sales from Ireland registered a speclacular cumulative increase of almost €1.8 billion, ahead of Switzerland and Belgium , both at + €1.7 billion, and Italy with +€0.9 billion; corresponding to a growth rate of around 37 percent compared to the first half of 2018.
Among the other European suppliers growing on the US market in the first half of 2019, we note Germany with + €0.7 billion Y-o-Y, in 7th place for total increases - following India and Mexico, and Denmark with + €0.6 billion Y-o-Y.
Ireland, Germany, Switzerland and more recently Italy, are the main European suppliers to the US market.
With their strong growth performance during in the last quarter, Ireland, Germany and Switzerland were confirmed as the leading exporters to the US market for Pharmaceuticals and Medical Equipment. Although much smaller, Italy's market share has increased in recent quarters, lifting it to an overall 5th place (behind Mexico) in the ranking of market partner countries.