The European Basic Pharmaceutical Products and Pharmaceutical Preparations sector experienced varied growth in hours worked across countries in 2023. Germany led with the highest hours, supported by a significant 5.35% increase. Italy and Spain showed stability with moderate growth, while the UK and Belgium followed. Eastern European countries like Poland and the Czech Republic saw slight declines. Notably, smaller economies like Cyprus and Malta achieved remarkable growth rates. Outlook for 2024 suggests Germany and Southern European countries may continue to grow, while Northern European countries focus on efficiencies and innovation.
Future trends to acknowledge:
- Technological advancements and automation may lead to efficiency gains.
- Regulatory changes and sustainability initiatives can impact labor dynamics.
- Cross-country collaborations in R&D could recalibrate regional hours worked.
- Investments in digital health may cause shifts in employment patterns.
Top countries in Basic Pharmaceutical Products and Pharmaceutical Preparations Hours Worked by Country
| # | 10 Countries | Hours | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 306,420,000 | 2023 | +5% | +5.35% | View data |
| 2 | 2 Italy | 114,170,000 | 2023 | +1.06% | +0.99% | View data |
| 3 | 3 United Kingdom | 94,202,000 | 2023 | +0.63% | +0.39% | View data |
| 4 | 4 Spain | 94,069,000 | 2023 | +3.1% | +3.03% | View data |
| 5 | 5 Belgium | 46,265,000 | 2023 | +2.48% | +1.76% | View data |
| 6 | 6 Poland | 40,611,000 | 2023 | +0.4% | -1.01% | View data |
| 7 | 7 Hungary | 36,390,000 | 2023 | +1.58% | +1.5% | View data |
| 8 | 8 Sweden | 32,171,000 | 2023 | +6.43% | +7.46% | View data |
| 9 | 9 Austria | 29,195,000 | 2023 | +2.81% | +2.5% | View data |
| 10 | 10 Netherlands | 21,095,000 | 2023 | -2.48% | -0.28% | View data |
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