Industry Analysis & Industry Trends
Companies in the industry make various medicines, vaccines, biotech pharmaceuticals and botanical products for pharmaceutical use. The United Kingdom is one of the largest pharmaceutical markets in the world, so the industry commands an important position in both the global pharmaceutical market and the UK economy. In fact, the pharmaceutical sector as a whole is the third-largest contributor to UK economic growth. The industry is particularly important in terms of its research and development contribution. The bulk of industry revenue is derived from export sales. However, imports satisfy the lion's share of domestic demand. Nevertheless, both imports and exports are highly inflated due to re-exports.
Over the past five years, the industry has weathered weak conditions... purchase to read more
Industry Report - Industry Key Buyers Chapter
Industry concentration measures the extent to which the largest players dominate an industry. Industry concentration has increased over the past five years as the escalating costs of research and development, shorter patents, and the need for global marketing power have driven major players to merge. Despite this, the industry has a low level of concentration, since the top four players are estimated to contribute just 18.2% of total industry revenue in 2016-17.
The industry is highly fragmented and characterised by global major players operating alongside small biotech players and small-scale manufacturers of botanical and homeopathic products. The degree of concentration is lowest in the generic and OTC segments because there are more small players operating in these segments.
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