Healthcare Products: uninterrupted sales growth for European companies
In Q4-2019 a new record value of EU Exports of Pharmaceuticals and Medical Products, especially on the US market
Published by Marcello Antonioni. .Internationalisation Health products Conjuncture Check performance Competitor analysis United States of America Made in Italy Global economic trends
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New high point of European sales of Pharmaceuticals and Medical Products1 was reached in Q4-2019 (according to ExportPlanning's estimates based on Eurostat latest statistics2): thanks to a new double-digit percentage growth trend (+10% compared to the fourth quarter of 2018), 2019 ended with a cumulative annual increase of EU28 Exports of more than 9 percentage points compared to the record value of 2018, exceeding € 478 billion on an annual basis.
The largest increases of EU Exports in the Pharmaceuticals sector...
In 2019 EU28 Exports of Drugs and medicaments showed an increase of almost 32 billion euros, reaching the end of the year (pre-estimates) with a value of about 370 billion euros.
.. especially on the US market.
The United States was by far the leading European pharmaceutical sales market, with a growth rate close to +23% according to EU28 export declarations.
This increase appears to be entirely consistent with that measured in terms of US import declarations from the EU28, which show an average annual growth rate of +22.3% in euro (ExportPlanning's pre-estimates based on the most recent US Census Bureau data3).
By the end of 2019, according to US import declarations, Drugs and medicaments Exports from the EU on the US market are estimated to have largely exceeded the €70 billion threshold, with a dollar value in excess of $81 billion.
1) The industry analyzed in this article groups the following sectors: Drugs, medicaments, Syringes, prostheses and other products for
healthcare, Medical and dental instruments and equipment,
Electro-medical equipment, Microscopes.
See the list in the following
2) See the related EU Trade Datamart in the ExportPlanning's Analytics Tool.
3) See the related US Trade Datamart in the ExportPlanning's Analytics Tool.