Need a report that reflects how COVID-19 has impacted this market and its growth?
The Belgium Pharmaceutical market studied was anticipated to show a slow growth with a CAGR of 3.2%. Belgium has a leading role in the European pharmaceutical market. It also has the highest amount of pharmaceutical spending per inhabitant in research and development among all the members of the European Union. Along with the third position in pharmaceutical research and development jobs per inhabitant, Belgium is a center for pharmaceutical development within the European Union.
However, For a record of EUR 3.6 billion in 2018, pharmaceutical manufacturers in Belgium spend nearly EUR 10 million a day in research and innovation. The pharmaceutical industry recruited 5,295 workers in Belgium in 2018. Belgium has the third-largest number of experts working in the pharmaceutical industry per inhabitant in Europe. In Belgium, jobs in pharmaceutical research and development increased with 23.8 percent in the span of 2014-2017, this rise was 0.3 percent in Europe. Furthermore, Belgium ranked 3rd in the sector of pharmaceutical and biotech patent applications in Europe (per inhabitant). In 2018, 315 patent applications are filed under these sectors in Belgium, a rise of 51.4% since 2014 and 2018.
Scope of the Report
As per the scope of this report, pharmaceuticals are referred to as prescribed and non-prescription drugs. These medicines can be bought by an individual with or without the doctor's prescription and are safe for consumption for various illnesses. The report also covers an in-depth analysis of qualitative and quantitative data.
|By ATC/Therapeutic Class|
|Alimentary Tract and Metabolism|
|Blood and Blood Forming Organs|
|Genito Urinary System and Sex Hormones|
|Systemic Hormonal Preparations,|
|Antiinfectives For Systemic Use|
|Antineoplastic and Immunomodulating Agents|
|Antiparasitic Products, Insecticides and Repellents|
|By Drug Type|
Key Market Trends
Cardiovascular Segment is Expected to Project Significant Growth Over the Forecast Period
The disorders that are related to heart and blood vessels are reffered to as cardiaovascular diseases. It commonly includes coronary heart disease, coronary heart disease, cerebrovascular disease, peripheral arterial disease, rheumatic heart disease, arrythmia, hypertension stroke etc. The factors such as increasing burden of cardiovascular diseases owing to the changes in the life-styles coupled with the regulatory approval for the drugs, advancement in the field and increasing awareness among the people towards heart health is propelling the growth of market over the forecast period. The common category of cardiovascular drugs includes ACE inhibitors, Aldosterone inhibitors, Angiotensin II receptor blockers (ARBs), Beta-blockers, Calcium channel blockers, Cholesterol lowering drugs, Vasodilators etc. The large burden cardiovascular diseases in the Belgium generates need for the drugs for the treatment and hence drives the growth of market. For instance, Secondary Prevention of heart Attack and Stroke, Country Profile of Belgium, report published in 2021 reported that heart attack accounts nearly 12% of all deaths in Belgium. It also reported that heart attack is the most serious consequence of coronary heart disease (CHD) and around 407,500 people are estimated to be living with CHD, with around 43,000 new cases each year in the country. Such growing burden of diseases is expected to propel the growth of market over the time. The increasing research studies in the segment for the development of new drugs is also driving the growth of market. For Instance, according to the Clinicaltrials.gov. in accessed on 11th January 2022, there are 1548 research studies are going on the development of the treatment for cardiovascular diseases in Belgium. Thus, owing to the abovementioned factors, the market segment is expected to project growth over the forecast period.
To understand key trends, Download Sample Report
Prescription Drugs segment Holds the Major Share and Expected to do Same in the Forecast Period
Belgium Prescription Drugs segment is projected to account for the highest share in the forecast timeframe. The growth factors for this sector are advancement in technology, a favorable regulatory environment, the inclination of pharmaceutical producers for Prescription drugs, and new product releases have also contributed to this growing trend. Other factors such as rise in population growth and a rise in chronic diseases like cardiovascular disease, which is the leading cause of death in the country, as well as an increase in per capita healthcare spending in the nation and an improvement in people's disposable income all these factors will also boost the demand during the forecast period.
The Belgium pharmaceutical market is highly competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the Key companies which are currently dominating the market are AbbVie Inc., AstraZeneca plc, Bayer AG, C.H. Boehringer Sohn AG & Ko. KG, and GlaxoSmithKline plc
- In October 2021, Sanofi Belgium is working on research and development on Sarclisa which is a combination with pomalidomide and dexamethasone to treat adults with relapsed and refractory multiple myeloma.
Table of Contents
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.1.1 Healthcare Expenditure (Govt. Vs Private)
4.1.2 Pharmaceutical Imports and Exports
4.1.3 Epidemiology Data For key Diseases
4.1.4 Regulatory Landscape/Regulatory Bodies
4.1.5 Licensing and Market Authorization (For both Local Production and Imported Goods)
4.1.6 Pipeline Analysis
22.214.171.124 By Phase
126.96.36.199 By Sponsor
188.8.131.52 By Disease
4.1.7 Statistical Overview
184.108.40.206 Number of Hospitals
220.127.116.11 Employment in the Pharmaceutical Sector
18.104.22.168 R&D Expenditure
4.1.8 Ease of Doing Business
4.2 Market Drivers
4.2.1 Increasing Expenditure on Healthcare and Medicines
4.2.2 Rising Burden of Chronic Diseases
4.3 Market Restraints
4.3.1 Socioeconomic Inequality
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By ATC/Therapeutic Class
5.1.1 Alimentary Tract and Metabolism
5.1.2 Blood and Blood Forming Organs
5.1.3 Cardiovascular System
5.1.5 Genito Urinary System and Sex Hormones
5.1.6 Systemic Hormonal Preparations,
5.1.7 Antiinfectives For Systemic Use
5.1.8 Antineoplastic and Immunomodulating Agents
5.1.9 Musculo-Skeletal System
5.1.10 Nervous System
5.1.11 Antiparasitic Products, Insecticides and Repellents
5.1.12 Respiratory System
5.1.13 Sensory Organs
5.2 By Drug Type
5.2.1 Prescription Drugs
6. COMPETITIVE LANDSCAPE & COMPANY PROFILES
6.1 Company Profile
6.1.1 AbbVie Inc.
6.1.2 AstraZeneca plc
6.1.3 Bayer AG
6.1.4 C.H. Boehringer Sohn AG & Ko. KG
6.1.5 GlaxoSmithKline plc
6.1.6 F. Hoffmann-La Roche AG
6.1.7 Bristol Myers Squibb Company
6.1.8 Eli Lilly and Company
6.1.9 Merck & Co., Inc.
6.1.10 Sanofi S.A.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Belgium Pharmaceutical Market market is studied from 2019 - 2027.
What is the growth rate of Belgium Pharmaceutical Market?
The Belgium Pharmaceutical Market is growing at a CAGR of 3.2% over the next 5 years.
Who are the key players in Belgium Pharmaceutical Market?
AbbVie Inc., AstraZeneca plc, Bayer AG, C.H. Boehringer Sohn AG & Ko. KG, GlaxoSmithKline plc are the major companies operating in Belgium Pharmaceutical Market.