While we have made every attempt to ensure that the information contained in any Publication has been obtained from reliable sources, Atradius is not responsible for any errors or omissions, or for the results obtained from the use of this information. Readers must make their own independent decisions, commercial or otherwise, regarding the information provided. However, the pandemic prompted many producers to substantially increase R&D spending, and many are working to reduce their reliance on Chinese products.Įach publication available on or from our websites, such as, but not limited to webpages, reports, articles, publications, tips and helpful content, trading briefs, infographics, videos (each a “Publication”) is provided for information purposes only and is not intended as a recommen¬dation or advice as to particular transactions, investments or strategies in any way to any reader. Generic drugs account for about 70% of output in India.Global producers will need to compete with a growing domestic industry. Producers that are able to sell their products in bulk may enjoy opportunities for high sales volumes. China represents a vast market with annual growth of 9.4% predicted for the period spanning 2019-2025.It is one of Europe’s largest vaccine producers and a major export hub of pharmaceuticals. Belgium also benefitted from Covid-19 vaccine production, resulting in an extraordinary 83% value added output increase in 2021 and 15% of total Belgian exports.It surged to 25% growth in 2021 and will benefit from ongoing vaccine production demands. It’s a relatively small country but accounts for more than 5% of global pharmaceuticals production.

Ireland really stands out as the strongest performing market in the industry.

Notable pharmaceuticals trends in individual markets include:

In Ireland the credit risk forecast is excellent. The credit risk situation in the majority of markets is fair to good.

Pharmaceutical industry overview