In a new report entitled “Pharmaceutical Innovation in Europe,” EvaluatePharma analyzed the impact of new medicinal breakthroughs in the pharmaceutical industry in Europe, forecasting the product levels for 300 in-line and over 500 pipeline assets until 2022. The report indicates that the pharmaceutical industry is posited to grow at a CAGR of 3.2% for the eight-year period of 2015 to 2022, while GDP is forecast to grow 1.6% per year. Due to the launch of various initiatives to develop medicines that focus on unmet medical issues, such as the Priority Medicine initiative, a trend has emerged of greater collaboration between EU regulators and pharmaceutical manufacturers.

The oncology market is estimated to grow at a CAGR of 8% from 2015 to 2022, while the diabetes market is forecast to grow at a CAGR of 5%. New biosimilar therapies have affected the immunology market, which is expected to decline at a CAGR of 3% over the eight-year period. The report calls for EU regulators and payers to work with pharmaceutical companies to develop more efficient funding mechanisms to put in place of the current pay-for-performance scheme, as the latter is proving to be unsustainable in the long term.

Source: EvaluatePharma