Farmaindustria, the employers’ association of the innovative pharmaceutical industry in Spain, has highlighted the role of this sector in Europe “as one of the most important assets for biomedical progress and the economy”, since it invested “39,000 million euros in research in 2020 and it directly employed some 830,000 people ”.
This is certified by the latest report with the main indicators of the sector, published by the European Federation of Pharmaceutical Industry Associations (Efpia), which shows that innovative laboratories “make up the most intensive industrial sector in R&D in the European continent” .
In addition, this sector “produces a value of 310,000 million euros, its export figure already reaches 515,000 million and contributes almost 122,000 million euros to the trade balance of the European Union (EU) of the 28, the highest generated with with respect to all research-based sectors, ”according to the study data.
Likewise, “European citizens have seen their life expectancy increased by 30 years in the last century and advances in biomedical research have been critical in these improvements, since they have caused reductions in mortality rates in diseases as serious as HIV / AIDS or some types of cancers ”, highlights Farmaindustria.
The challenge of activity migration
One of the challenges facing this sector is the rapid growth, at the market level and in the field of research, of emerging economies, such as Brazil, China and India, “which is leading to a gradual migration of economic activities and R&D from the EU to these markets ”, indicates this employer.