Summary of our market study

The global pharmacy market has witnessed significant growth, particularly influenced by COVID-19 and the rise in emerging markets. In 2021, the market experienced a sharp increase exceeding $1,400 billion, largely driven by COVID vaccine sales, especially in Europe and North America. The United States persists as the dominant player, encompassing 40.8% of global sales, while Western Europe and China follow with 14.7% and 11.9%, respectively. Pharmaceutical spending continues to expand, with an increase of 7.79% from 2020 to 2021, reaching about $1,493 billion.

Spanish pharmacies demonstrate growth trends, with medicine sales ascending to 10.7 billion euros in 2021 and the healthcare system reimbursements for pharmacy prescriptions reaching 11.7 billion euros. The Spanish market shows a high concentration of pharmacies, with 22,198 establishments in 2021, and an escalating demand with 1,023 million prescriptions dispensed in 2021. Online pharmacies in Spain are gaining traction, generating 296 million euros in 2021, with personal care products leading sales.

Pharmaceutical Market Dynamics and Consumer Trends in Spain

Spain's pharmaceutical market has been exhibiting a significant uptrend, mirroring the increasing necessity for medications and healthcare products, particularly against the backdrop of an aging population. The demand for pharmaceuticals is evident, with a palpable surge in the number of prescriptions dispensed at pharmacies, illustrating a growing dependency on such products. Between 2013 and 2021, Spanish pharmacies have seen an escalation in dispensed prescriptions, ascending from a ballpark of 850 million to over 1000 million. Equally, the spending patterns reflect the burgeoning market size. Spanish healthcare system reimbursed prescriptions have swelled sharply. The boost in spending on pharmaceuticals aligns with the global uptick, with worldwide spending rising by approximately 7 to 10 percent in just one year. The Spanish market has gravitated towards nervous system medications, digestive system drugs, and cardiovascular medicines as principal sales drivers, together constituting more than half of all pharmaceutical sales. This skew hints at prevalent health concerns amongst Spaniards and potential areas of focus for pharmaceutical endeavors. Geographically, regions like Extremadura and the Principality of Asturias lead in per capita pharmaceutical spending, whilst Madrid and Catalonia exhibit lower public expenditure, ranging from about 190 to over 300 euros per inhabitant.

The parapharmaceutical market, although broad and challenging to encapsulate, is another flourishing segment in Spain. Estimates suggest a valuation of around 5 billion euros. Beauty and skincare products, as a subset, boast a robust consumer base with millions engaging in the regular purchase of varying product types. The consumer profile for pharmacies skews towards a female demographic, predominantly active and middle-income brackets, with an average age of 45. While pharmacies remain the paramount channel for purchases, consumers are gradually indulging in multi-channel buying behaviors. This shift has been significantly catalyzed by the internet, with at least one-fourth of Spaniards seeking online information or purchasing beauty and skincare products. In the grand landscape of the Spanish pharmaceutical market, macro-trends suggest a swiftly evolving ecosystem. Aging demographics, heightened healthcare spending, increased prescription dispensing, and burgeoning multichannel consumer behaviors point towards a market ripe with opportunities for both established players and emergent startups alike. The call for strategic adaptation, digital transformation, and customer-centric service innovations rings louder than ever for stakeholders looking to capture value in this expanding industry.

Key Players Shaping the Pharmaceutical and Pharmacy Landscape in Spain

The Spanish pharmaceutical and pharmacy market is a vibrant and dynamic field with numerous key players that actively shape its landscape. Among the notable companies, several stand out due to their significant influence within the industry.

  • Sanofi is a global giant in the pharmaceutical industry, known for its broad range of medicines and vaccines. Sanofi's presence in Spain underscores its commitment to delivering healthcare solutions that cater to a spectrum of medical needs.
  • Novartis is another titan in the global pharmaceutical sector, with an expansive portfolio that includes cutting-edge treatments and therapies. Its operations in Spain reflect its global strategy of innovation and healthcare improvement.
  • Pfizer has established itself as one of the most recognized names in pharmaceuticals worldwide. With a strong foothold in Spain, Pfizer has been instrumental in driving pharmaceutical advancements and improving patient outcomes.
  • Johnson & Johnson, renowned for its diverse healthcare products, continues to make a substantial impact in Spain through its pharmaceutical division, offering innovative and trusted treatments.
  • Roche is synonymous with pioneering healthcare solutions. In Spain, Roche's contribution to the pharmaceutical sector is marked by its commitment to research and development, striving to improve the lives of patients.
  • On the pharmacy group front, Sanifarma, Redfarma, Farmactiva, Farmacias Trébol, Farmàcies Ecoceutic, and XarxaFarma are among the main Spanish pharmacy groups that play a pivotal role in the distribution of pharmaceuticals in Spain. They represent a significant part of the pharmacy network, providing the public with access to essential medicines and healthcare services.
  • In terms of drug manufacturing, Instituto Grifols is a major player specializing in pharmaceuticals derived from plasma, while Bioibérica focuses on the production of biomolecules for pharmaceutical and nutraceutical purposes.
  • When it comes to pharmaceutical wholesalers and laboratories, companies like Cofares, Bidafarm, and Alliance Healthcare are key distributors ensuring the supply of medications across the nation. They act as crucial intermediaries between manufacturers and pharmacies, maintaining the efficiency of Spain's pharmaceutical distribution chain.
  • Evolving within the digital space, LUDA Partners represents a new generation of startups aiming to bridge the gap between pharmacies and the digital realm. By creating networks that facilitate medicine location and online sales, this innovative company reflects the burgeoning digital transformation within the pharmaceutical sector.

 

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  • Last update : 23/05/2023
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Summary and extracts

1 Market overview

1.1 Definition and presentation

Pharmacies are physical outlets that sell medicines, but also hygiene and care products. Pharmacies are often sales intermediaries, but they can also play an important role in providing advice, and even in preparing products.

Worldwide, the pharmacy market is largely dominated by North America, which accounts for almost half of global sales. Europe ranks second with around a quarter of the total, ahead of the Asia-Pacific region. In Europe, Spain has the largest number of pharmacies (over 22,000), ahead of France (21,200), Germany (19,400) and Italy (18,900).

In Spain, pharmacy sales remain relatively small due to the relatively high fragmentation of the market, with an average of just over 900,000 euros per establishment. By 2022, more than two-thirds of sales will come from the sale of medicines, with the remainder generated by the consumer health segment. Eight autonomous communities account for 80% of national sales. Andalusia remains the leading national market, ahead of Catalonia and Madrid. Among the most dynamic products, anti-diabetic products and antithrombotic agents have seen their volumes rise sharply. [IQVIA]

1.2 The global market

Size of the global pharmaceuticals market :

In ****, the global drug market grew at a steady pace, driven by dynamic sales in many emerging markets (***) and, to a lesser extent, in Europe.According to IQVIA, it will grow by over **% in ****, to exceed $*,*** billion. This sharp acceleration is due to the marketing ...

1.3 The Spanish market

Market size trends :

Growth in pharmacy drug sales Spain, ****-****, in millions of euros Source: ****

Sales of medicines in Spanish pharmacies have been rising in recent years, reaching **.* billion euros in **** nationwide.

Spending trends in the Spanish healthcare system Spain, ****, in millions of euros Source: ****

Spanish health system reimbursements for pharmacy ...

1.4 Foreign trade

International trade:

Concerning international trade, we consider data provided by UN Comtrade for commodity code **** "Pharmaceutical products". As shown in the graph below, imports and exports of pharmaceutical products have increased in recent years.Imports reached a value of **.* billion USD in **** and exports amounted to **.* billion USD in ****. The coverage ...

2 Demand analysis

2.1 Drug consumption in Spain

Demand trends :

Total number of prescriptions dispensed in pharmacies Spain, ****-****, in millions Source: Ministerio de Sanidad, Consumo y Bienestar Social Between **** and ****, the number of prescriptions dispensed in pharmacies rose sharply, illustrating a growing need for medicines and pharmaceutical products, particularly in view of Spain's ageing population. In ****, **** million prescriptions ...

2.2 Spaniards and pharmacy

This section presents the pharmacy consumption habits of Spaniards.

Average pharmacy consumption per capita Spain, ****-****, in euros Source: ****

In ****, the average Spaniard will spend *** euros on drugs and *** euros on healthcare products per year, up from **** .

Average ticket value Spain, ****-****, in euros Source: ****

The average pharmacy bill in **** will ...

2.3 Demand for parapharmaceutical products sold in pharmacies

Beauty and skincare products, which account for a large proportion of parapharmacy products, are widely used among the Spanish population. In ****, for example, there were an estimated **.* million regular buyers of oral care products, **.* million regular buyers of hair care products, and **.* million regular buyers of bath and shower products.

Number ...

3 Market structure

3.1 The French pharmaceutical industry value chain and drug production

Drug industry value chain :

Source: ****

Source: ****

Source: ****

3.2 Pharmacies in Spain

Number of pharmacies in Spain :

Growth in the number of pharmacies Spain, ****-****, in number Source: ****

In ****, there will be ***** pharmacies in Spain, ** more than in ****. Spain currently has the most pharmacies in Europe.

Geographical distribution of pharmacies in Spain :

Source: ****

The regions with the highest number of pharmacies are Andalusia, ...

3.3 Drug manufacturing in Spain

Key figures for the drug manufacturing sector in Spain:

The number of companies manufacturing drugs in Spain is fairly constant (***).

Trend in the number of drug manufacturing companies in Spain Spain, ****-****, in numbers Source: ****

Number of employees in drug manufacturing companies Spain, ****-****, in numbers Source: ****

Main companies :

Instituto Grifols ...

3.4 Drug distribution

A fairly concentrated market:

Sales by pharmacy group Spain, ****, in Source: ****

The top **% of pharmacies in Spain account for **% of sales, while the **% smallest account for just **%.

Main companies :

Leading pharmaceutical wholesalers Spain, ****, in millions of euros Source: ****

This chart represents a ranking of the leading Spanish companies engaged in pharmaceutical ...

3.5 Investment and R&D

High spending :

Trends in pharmaceutical R&D expenditure Spain, ****-****, in millions of euros Source: ****

This statistic shows the annual evolution of R&D investment by the pharmaceutical industry in Spain from **** to ****. According to the results of Farma Industria's R&D survey, the Spanish-based pharmaceutical industry will have invested around ...

4 Offer analysis

4.1 Prices

Price trends :

Average drug prices have been rising in recent years, by *.*% in February **** compared with February ****, and by *.*% from February **** to February ****.

Evolution of average drug prices over one year Spain, ****-****, in Source: ****

Prices by drug type:

The most expensive drugs are antineoplastics and immunomodulators. The least expensive are, ...

4.2 Supply trends: towards digitalization of the business

Experts and pharmacists experienced in the digital development of pharmacy shared online business strategies at a webinar organized by Ágora Sanitaria in ****. According to consulting firm IQVIA, the online pharmacy market in Spain generated *** million euros in ****, with personal care products leading the way.

The pandemic has stimulated the use of ...

5 Regulations

5.1 Drug regulations

Medicines and active ingredients:

Medicines are regulated throughout their life cycle. All medicines used in Spain require a marketing authorization issued by the Spanish Agency for Medicines and Health Products (***). Once their quality, safety and efficacy have been favorably assessed, any modifications must also be authorized or notified to AEMPS. These ...

5.2 Cosmetics regulations

Cosmetic products are regulated at European level by :

Regulation (***) No. ****/**** of the European Parliament and of the Council of November **, **** on cosmetic products. Commission Regulation (***) n° ***/**** of July **, **** establishing common criteria with which claims made on cosmetic products must comply. Commission implementing decision of November **, **** on guidelines concerning Annex I of ...

5.3 Regulations for personal care products

Personal care products require an exclusive marketing authorization for Spain, issued by AEMPS. These products are regulated by Royal Decree ****/****, of October **, which regulates cosmetic products.

Facilities :

The activity of manufacturing these products must be carried out in facilities that have set up a quality system and are subject to a ...

6 Positioning the players

6.1 Segmentation

  • Sanofi Aventis
  • Novartis
  • Hygie 31- Laf Santé
  • Johnson & Johnson
  • Pfizer
  • Roche Groupe
  • Cofares S.c. Farmaceutica Española
  • Grupo Bidafarma S.c. Andaluza De Segundo Grado
  • Alliance Healthcare España Sociedad Anonima
  • Hermandad Farmaceutica Del Mediterraneo S.c.l.
  • Grupo Unnefar S.c.
  • Janssen Cilag Sa
  • Merck Sharp & Dohme De España Sau
  • Almirall

List of charts presented in this market study

  • Number of pharmacies in Europe by country
  • Trends in global pharmaceutical market spending (against a backdrop of health crisis)
  • Number of inhabitants per pharmacy
  • Geographical breakdown of worldwide drug sales
  • Size of the global pharmaceuticals market
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Latest news

Sanofi plans to spin off its Consumer Healthcare business in 2024 - 28/10/2023
  • Year of separate listing of Sanofi's Consumer Healthcare Division: 2024
  • Sanofi envisages savings of: up to 2 billion euros between 2024 and the end of 2025
  • Presence of Sanofi Consumer Healthcare Division: 150 countries, more than 11,000 employees
Sanofi to spin off its consumer healthcare division and float it on the stock market - 27/10/2023
  • Sanofi is a French pharmaceutical company
  • The Consumer Healthcare division has over 11,000 employees in 150 countries.
  • The demerger of Consumer Healthcare will take place in the fourth quarter of 2024 at the earliest.
  • This division accounts for just over 10% of Group sales.
  • In 2022, the Consumer Healthcare division generated 5.1 billion euros of Sanofi's 43 billion euros in sales.
  • The Consumer Healthcare division posted growth of 13.7% in 2022.
  • By 2021, the global consumer healthcare market will be worth over €180 billion.
  • The market share of Haleon, the world leader in consumer healthcare, is estimated at 6% in 2021.
  • The over-the-counter segment accounts for 90 billion euros, vitamins, minerals and supplements for 50 billion euros, and oral care for almost 30 billion euros.
  • Its Dupixent sales approach 11 billion euros in annual sales.
  • Beyfortus vaccine is currently marketed in 4 countries, including France.
Sanofi inaugurates Europe's largest vaccine plant at Val-de-Reuil - 07/09/2023
  • Sanofi's vaccine plant in Val-de-Reuil celebrated its 50th anniversary.
  • Sanofi has invested 250 million euros in two modernization/expansion projects at the plant, which employs 2,200 people.
  • It ships 600 million doses of vaccines worldwide every year.
  • Sanofi has set up a new influenza vaccine production unit, at a cost of 200 million euros.
  • Over the past ten years, Sanofi has invested 600 million euros in Val-de-Reuil.
  • Sanofi plans to double sales of its vaccines division between 2018 and 2030, to more than 10 billion euros a year.
Sanofi invests $250 million in flu vaccines in France | Sanofi invests $250 million in flu vaccines in France - 07/09/2023
  • Sanofi is the world's fourth-largest vaccines company
  • Sanofi invests 250 million euros in its Val-de-Reuil site, Europe's largest vaccine production facility
  • Sanofi has 11 vaccine plants
  • 50% of Sanofi's production is concentrated in influenza.
  • Sanofi increases influenza vaccine production capacity by 40%
  • Sanofi's Efluelda vaccine is recommended for the elderly and launched in 18 countries, including 11 where it has been recommended by health authorities.
  • Sanofi has invested over 600 million euros in its Val-de-Reuil site over the past ten years.
Novartis raises its outlook and prepares to spin off Sandoz - 18/07/2023

Spin-off and IPO of Sandoz generics division planned for early fourth quarter

Sanofi gains a foothold in the obesity market with biotech Adocia - 10/07/2023
  • Appetite suppressants derived from antidiabetics are an emerging market
  • . Industry giants such as American Lilly and Danish Novo Nordisk are already involved in this market.
  • Sanofi paid 10 million for the exclusive right to negotiate a worldwide partnership for Adocia's M1Pram rapid insulin.
  • Adocia's M1Pram rapid insulin is special in that it makes you lose weight instead of gaining it.
  • The potential market for appetite suppressants derived from antidiabetics is estimated at several tens of billions of dollars a year.
  • Sanofi is a specialist in type 1 diabetes, and M1Pram could benefit obese patients suffering from this type of diabetes - around 5% of type 2 diabetics.
  • Phase 2 clinical results for M1Pram showed exceptional weight loss with good glycemic control in overweight and obese type 1 diabetics.
  • The population that could benefit from M1Pram is estimated at nearly 40 million people worldwide, representing a potential market worth several billion dollars.

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Sanofi Aventis
Novartis
Hygie 31- Laf Santé
Johnson & Johnson
Pfizer
Roche Groupe
Cofares S.c. Farmaceutica Española
Grupo Bidafarma S.c. Andaluza De Segundo Grado
Alliance Healthcare España Sociedad Anonima
Hermandad Farmaceutica Del Mediterraneo S.c.l.
Grupo Unnefar S.c.
Janssen Cilag Sa

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