Event Japan Medical Biotechnology
The German Medical Biotechnology Industry
Germany is the world’s leading medical biotech nation behind the US. The industry’s strength comes from the presence of long-established and start-up companies alike. Industry, government, and the research sector are pulling in one direction to build on the thriving sector’s already strong market foundations. With the largest amount of biotech companies in Europe, world-class research infrastructure, and internationally renowned scientists, Germany has firmly established itself as an international medical biotechnology hub.
Current Growth Drivers
One major growth driver is the biopharmaceuticals market. According to a report by Boston Consulting Group and the Association of Research-Based Pharmaceutical Companies (vfa), sales of biopharmaceuticals in Germany increased to EUR 12.7 billion in 2019 (growth of 13 percent compared to 2018). Growth was seen in all therapeutic areas, particularly in oncology. In 2018, a record-breaking 58 percent of all new drug approvals in the EU were biopharmaceuticals.
In-vitro diagnostics (IVDs) are a crucial part of modern medicine: laboratory based tests performed on biological samples provide information that is key for the prevention, treatment and management of diseases. With more than EUR 2 billion in annual revenue, Germany represents the largest IVD market in Europe and second worldwide behind the USA.
Molecular diagnotics (Dx) already enjoys more than 10 percent share of the entire German diagnostics market and boasts a growth rate more than twice that of the entire IVD market as such.
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