New Report Emphasises Potential of New Member States’ Pharmaceutical Sector
A new report, produced by Frost & Sullivan, has identified that the new member state countries’ pharmaceutical sectors are expanding vibrantly. Annual growth rates of 16.5%, compared to 8% of the EU15, indicate the great potential these countries have. The pharmaceutical market in the new member states, which includes Poland, Estonia, Lithuania and Latvia, represents 8% of the EU market.
Dr Raju Adhikari, Frost & Sullivan’s pharmaceutical-biotechnology analyst said: “Mirroring the changing disease burden of the west, the anti-infectives market share has declined, whereas cardiovascular, central nervous system (CNS) and metabolic disease categories have taken over.”
“Huge growth opportunities in asthma and oncology also exist and companies with products in these diverse areas are likely to be more successful in the ‘new’ EU markets.”
News Source: Frost & Sullivan, Press Release, 21st Febuary
29 August 2023
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