The fastest-growing pharmaceutical companies invest in innovation
Greece's rapidly growing pharmaceutical sector is investing heavily in innovation, driven by strategic mergers, acquisitions, and access to the U.S. market.
The Greek pharmaceutical industry, recognized as one of the most dynamic sectors of the economy, has shown substantial growth as medium-sized companies focus on upgrading their portfolios and pursuing targeted mergers and acquisitions. According to a report by Bain & Company, factors such as access to the U.S. market have led to an increase in exports, with pharmaceutical exports reaching 2.8 billion euros in 2024, comprising 5.7% of Greece's total exports. This surge has positioned the pharmaceutical industry as the second most significant export pillar of Greece, following mineral fuels.
Investment in research and development (R&D) within the sector remains strong, with expenditures totaling 161 million euros in 2022. Since 1995, Greece has hosted over 2,000 clinical studies, underscoring the ongoing enhancement of the scientific and productive footprint of the pharmaceutical sector. These statistics not only highlight the industry's contributions to the national economy but also underline the commitment to innovation and global competitiveness.
However, challenges remain as companies strive to keep pace with rapid advancements and growing market demands. The recent report emphasizes the need for sustaining the growth trajectory by continuing to invest in innovative solutions and expanding into new markets. This is crucial for navigating the increasingly competitive landscape of the global pharmaceutical industry and ensuring robust future performance.