The turnover for basic pharmaceutical products in Austria has shown a variable trend since 2013. The most notable increase occurred in 2018 with a growth of 25.11% year-on-year. However, there was a slight decline of -5.78% in 2020. By 2023, the turnover stood at 2.72 billion euros, reflecting an increase of 2.67% from the previous year. Over the last five years, the compound annual growth rate (CAGR) was 3.67%. Forecasts indicate a continuous, albeit moderate, increase, expecting the turnover to reach 3.05 billion euros by 2028, marking a forecasted five-year CAGR of 1.84%.
Future trends to watch for:
- Technological advancements in drug development
- Regulatory changes within the European pharmaceutical market
- Potential economic impacts of geopolitical changes
- Integration of biotechnology and personalized medicine
- Expansion of global pharmaceutical companies into emerging markets
