Healthcare, Regulatory and Reimbursement Landscape- Germany

The Rising Elderly Population and it’s Associated Disease Burden Add to the Economic Challenges Faced by the German Government
 
 
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Healthcare
Regulatory and Reimbursement
Pharmaceuticals_and_healthcare

Industry:
Health

Location:
London, Greater - UK

Aug. 9, 2012 - PRLog -- Germany is the most populous country in the European Union (EU), with a population of approximately
81.6 million Measured in 2010. The available data for the age distribution of the German population affirms that the shares of the 0 - 19 and 20 - 39 age groups had declined between 2005 and 2010. The proportion of the population falling into the 20 - 39 age group declined from ~26% to ~24% between 2005 and 2010, while that falling into the 40 - 64 age group increased from ~35% to ~37% in the same period. These figures can be interpreted as showing a decline in the working population and an increase in the elderly population of Germany.

The population aged 65 years and above is increasing and is projected to reach approximately 18.7 million by 2020. The elderly population of Germany has increased at a significantly faster rate than that of the US and other European countries due to Germany’s higher life expectancy, better healthcare facilities and strong financial support for the elderly population by the German government.

The pharmaceutical market in Germany was valued at approximately $51.6 billion in 2010 and is projected to reach approximately $72.9 billion in 2020, with a Compound Annual Growth Rate (CAGR) of
3.5%. Germany is one of the largest healthcare markets among the European Union member states. Moreover, the German government has launched a strategy to promote the advancement of new, superior and innovative technologies in all sectors and industries. The German Research Foundation (Deutsch Forschung Gründung (DFG)) is a self-governing organization with the purpose of encouraging science and research in Germany.

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In 2010, the German medical device market was worth approximately $20.5 billion, making it the thirdlargest in the world, and it expected to grow to approximately $32 billion by 2020 at a projected CAGR of 4.8%. in terms of market share, the cardiovascular devices (12.4%), in-vitro diagnostics (11.9%) and orthopedic devices (9.6%) were the major segments of this market in 2010. The key challenges faced by the German medical equipment industry are slow growth in the domestic market and pricing pressures from the German government

Increased public awareness of health issues, implementation of supportive policies by the Ministry of
Health (Bundesministerium für Gesundheit (BMG)) and a common regulatory procedure among EU member states for the market authorization of drugs provide scope for growth of the pharmaceutical market. However, the German government is strictly regulating reimbursement and pricing policies through cost-benefit analysis, reference pricing and analysis of the therapeutic characteristics of medicines in order to reduce its healthcare expenditure.

Global Markets Direct, the industry analysis specialist, has released its new report, “Healthcare, Regulatory and Reimbursement Landscape - Germany”. The report is an essential source of information and an analysis on the healthcare, regulatory and reimbursement landscape of Germany. The report identifies the key trends in the healthcare market of Germany. The report also provides insights on the demographic, regulatory, reimbursement landscape and healthcare infrastructure of Germany. Most importantly, the report provides valuable insights on the trends and segmentation of pharmaceutical and medical devices market.

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Source:Rajesh Gunnam
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Tags:Healthcare, Regulatory and Reimbursement, Pharmaceuticals_and_healthcare
Industry:Health
Location:London, Greater - United Kingdom
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