Atradius sector experts share their insights on the key issues affecting pharma industry growth throughout the world
Demand for Covid-19 vaccines and personal protective equipment led to output growth of 14% for the global pharmaceuticals industry during 2021, followed by a 3% increase in 2022. However, now that the pandemic has moved to epidemic status and the demand spikes have calmed, what is the outlook for the industry? We asked three Atradius Trade Sector Experts to share their pharmaceutical industry analysis.
How important is Asia for the global pharmaceutical industry?
Judy Ji is Atradius Senior Underwriter in Shanghai, China, and gives valuable insight into the role of Asia-Pacific for the entire global industry. She acknowledges the region’s importance as a global driver for pharmaceutical industry growth. In particular, she highlights the opportunities provided by the increasing spending power of the growing middle class in the region’s emerging markets and the industry importance of government initiatives in developing countries to increase access to healthcare systems.
Medicines targeting life-threatening conditions drive growth in the Americas
Patrick Scardina is Atradius Manager Regional Underwriting in Irvine, USA. He notes the strong performance of medicines targeting cancer, diabetes, and other life-limiting conditions in the region. Although he acknowledges the pressures that areas such as high inflation, regional legislation and the next patent cliff present to pharmaceuticals businesses, he points to the ongoing demand presented by the region’s ageing population.
Will high energy prices cause European pharma to burn out?
Rubén del Río Hernández is Team Leader Large Buyer Unit at Atradius CyC, Madrid, Spain. He recognises the pressure that energy price headwinds are putting on pharma industry growth in Europe. However, he argues that despite this, the longer-term outlook for the sector is good and emphasises the opportunities presented by new technologies. He explains how AI, big data and new approaches towards clinical trials have the potential to drive growth across the region.
In addition to exploring areas such as the impact of environmental issues, reshoring and government regulations, our Trade Sector Experts list the top three opportunities and top three challenges to growth in the pharmaceuticals industry in their regions. Access these and read more in-depth insights into the main issues affecting the industry in our white paper on pharmaceutical trends.