The value-added of chemical and pharmaceutical products in Austria showed a notable growth from 2013 to 2023, reaching 5.71 billion euros in 2023. The annual growth rate varied significantly, with notable increases in 2014 and 2016 at 9.3% and 16.94%, respectively. However, the sector encountered declines in 2017 and 2018 by -7.86% and -6.75%. In the past two years, growth rates were moderate at 1.97% in 2022 and 1.89% in 2023. The compound annual growth rate (CAGR) over the last five years averaged 2.84%.
Forecasts indicate a steady increase in value-added to 6.21 billion euros by 2028. Future trends to monitor include:
- Technological advancements in pharmaceuticals and biotechnologies.
- Changing regulatory landscapes and their impact on production costs.
- Global supply chain dynamics post-COVID-19 pandemic and geopolitical tensions.
- Sustainability and environmental regulations shaping industry practices.
