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FIND OUT TOP PHARMACEUTICAL MANUFACTURING COUNTRIES IN THE WORLD, TOP IMPORT AND EXPORTING COUNTRIES
The US has the largest pharmaceutical market in the world with a value of 339,694 million dollars. Switzerland is by far Europe's biggest pharma producer, with production values of 54.3 billion Euros in 2019. This data is taken from the EFPIA's comprehensive annual data review of the European pharma industry. France is Europe's second largest pharma production hub at 35.8 billion Euros for 2019. Italy is the leading country in Europe In terms of value of manufacturing produced by contract development and manufacturing organizations.
The United Kingdom is the fourth largest producer of pharmaceuticals with 23 billion Euros worth in 2019. The pharmaceutical industry accounts for tens of billions of dollars in international trade each year, much of which comes from Europe and the U.S. Big Pharma is a massive industry and has plans to grow even more by targeting growing opioid markets in countries like India. Global sales from worldwide exports of drugs and medicines in 2020 totaled 407.7 billion dollars. European countries sold the highest dollar value worth of exported drugs and medicines during 2020.
In second place were pharmaceutical exporters in Asia at 9.9 percent while 8.1 percent of worldwide drugs and medicine shipments originated from North America. Those countries that posted the slowest gains year over year were: Switzerland, Canada and the United States. The global pharmaceutical industry provides about one trillion US dollars in revenues annually. Pfizer leads in sales revenues of about 45 billion dollars in 2013 while Johnson and Johnson realized revenue of 70,074 million dollars in 2015. China is fast catching up as having the fastest growth in the industry.
Pharmacovigilance has become important in monitoring unrecognized drug risks, recognition of pre disposing factors, and refuting spurious safety claims. In the US, patient reporting stands as the most source of ADRs while in the UK and Sweden, reports come from physicians.
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