Pharmaceuticals: winning European sales in the US Market
The first quarter of 2020 confirms record figures, with distinctive positioning in the "premium" segment
Published by Marcello Antonioni. .Premium price Internationalisation Health products United States of America Export markets International marketing
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In the first months of the year, European sales of pharmaceuticals in the US rose by 30% in euro...
As documented by US Census Bureau trade data, US imports of Pharmaceuticals1 from the EU showed strong year-on-year growth in the first quarter of 2020, reaching a new high point in quarterly values (20.5 billion euros), as shown in the figure below - extracted from the ExportPlanning-Analytics tool.
...confirming the strong growth
already experienced in 2019 ...
This confirms last year's very fast pace of European pharmaceutical sales in the US market: the final figures for year 2019 show an increase in imports of pharmaceuticals from the EU of +21.2% in euro terms, even more dynamic than the average for non-European competitors - Asians first and foremost - which "stopped" at +14.7%.
As a result of this performance, EU sales of Pharmaceuticals to the US market for the first time exceeded €70 billion annually.
..and with a distinctive positioning
in the "premium" segment.
These are typically premium sales: according to the StudiaBo-ExportPlanning price range calculations, the incidence of the High and Medium-High Price Ranges accounts for around 96 per cent of total EU exports to the USA in the Pharmaceuticals sector, with a countervalue in 2019 of more than 67 billion euros.
Despite the recessionary phase of the U.S. economy, in the 2020 expected a new record of European sales...
According to the StudiaBo-ExportPlanning forecasts (available in the Forecast Datamart), formulated starting from the recent World Economic Outlook2 of the International Monetary Fund, in the average of 2020 EU sales of Pharmaceuticals to the US market will confirm a dynamic of growth (+5.6% in euros) - albeit more limited, and a growth rate in the following three years (2021-2023) close to +9% per year on average, reaching 96 billion euros in 2023 - as illustrated in the graph below.
.. with a return in the period 2021-2023
to growth rates close to double digits.
In the 2023 scenario, Ireland, Germany and Switzerland are expected to be in the top three places in the ranking of the main partner of the US Pharmaceutical market, with Belgium, Italy, Denmark and the UK also well positioned.