The pharmaceuticals drugs market in France is prepared to decline from $35.5 billion in 2017 to $34.16 billion in 2021, representing a negative compound annual rate of growth of 1%, according during the forecast period.
Latest reports states that in spite of France’s strong public health insurance system and rising senior population, increasing pressure on pharmaceutical commercialism costs, patent expiration of branded medication and exchange fluctuations area are effected the growth.
The government is presently that specialize in the employment of generics as a cost-containment tool to reduce expenditure. Certainly, the generics market was essentially run by a good regulative system and a constant wave of patent expiries, acting as a barrier to pharmaceutical market growth.
France follows external reference valuation, that is coupled with alternative European countries appreciate Federal Republic of Germany, Spain, Italy, and the UK. Pricing cut by any of those countries governments can quickly translate into cost reductions in France, and continual price cuts have reduced the increase in tending payment.
France’s compensation policy is grounded in clinical effectiveness instead of the cost-versus-benefit approach that other countries such as the US and the UK employ. This implies that pharmaceutical firms take a better risk so as to visualize returns on innovative products, and new medication need to demonstrate a level of improvement over existing products, which might be seen as a deterrent to investment.
Healthcare firms are searching for chances among the French market should focus on the growing demand for innovative medication and biotechnology, which is able to alter new therapies to command a premium value and influence the worth of the market. French government to support pharmaceutical R&D by giving tax credits and financial commissions can promote new prospects for small biotechnology firms, a growing variety of that are operative in France over the past decade.