Entrepreneurs Investment Meet

The life sciences sector’s growth correlates highly with countries’ general economic strength and health care spending levels, and both of these vary widely around the globe.

 

The life sciences sector’s growth correlates highly with countries’ general economic strength and health care spending levels, and both of these vary widely around the globe. In 2015 North America accounted for 48.7% of world pharmaceutical sales compared with 22.2% for Europe. According to IMS Health data, 58% of sales of new drug discovery made during the period 2010–2015 were on the US market, compared with 23% on the European market. Europe is ensuring competitive growth along with other countries.  By 2022, products currently in drug development will account for 17% of sales in Europe. Europe is expected to show a 3% CAGR 2016-22, mainly driven by the launch of new products currently in development. The penetration of biotech products is set to increase from a 24% market share in 2015 to 29% in 2022. 

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