The pharmaceutical industry is a strategic priority for the socio-economic development of every country in the world. The application of advanced technology in this field is very knowledge intensive and has a significant multiplier effect in chemical production, agriculture, engineering, healthcare, insurance, finance and science. In addition, the high level of development of the country's pharmaceutical industry affects the availability of medicines, the quality of health care and, consequently, the quality of life and life span.
Germany offers an ideal location for research, production and distribution of top-class pharmaceuticals and is already a major global player in the world market. The German pharmaceutical industry produces a wide range of medicine products and amounted to approx. 49.5 billion EUR in 2020 (Statista Research Department).
One trend that will influence the development of the pharmaceutical industry in the medium term is the increased use of biotechnological developments in the production of new medicines. Important changes are emerging in the industry: a shift in focus from treatment to prevention and outcomes.
However, the sustainability of the pharmaceutical industry is under the influence of restrictive growth policies aimed at reducing healthcare spending. Pharmaceutical companies are responding to many external and internal factors in different ways.