Record-breaking year for German medical biotechnology
The Boston Consulting Group (BCG) reports that Germany’s biopharmaceutical industry posted record market share and employment figures last year. The study also said sector turnovers were EUR 14.6 billion in 2020, an increase of 14 percent on 2019.
German biotech expanded its global market share from 29 percent in 2019 to a higher-than-ever 30.8 percent in 2020. The number of jobs in the industry made a record 5.4 percent jump to 44,600 employee as well. In its report, BCG focused on the role recombinant antibodies played in driving growth. It noted that by the end of 2020, pharmaceutical authorities had already approved 82 therapeutic molecules in this class of active substances in Germany – or twice as many as five years ago.
BCG additionally emphasized Germany’s strength in developing biopharmaceuticals for pharmacies and hospitals, with growth in all fields of medical application. BCG’s analysts reported that Germany’s biotechnology companies are global leaders in mRNA technology, adding that the country made key contributions to combatting the coronavirus pandemic, including the first COVID-19 vaccine to be approved by the European Medicines Agency (EMA) as well as the world’s first coronavirus test.
Vfa-bio, which represents the biotechnology interests of the Association of Research-Based Pharmaceutical Companies (vfa), commissions the report annually. At the time of publication, vfa-bio’s chairman and CEO of Rentschler Biopharma SE, Dr. Frank Matthias said, “Germany can compete successfully on an international level. This was demonstrated during the year of the pandemic … in an impressive way by mRNA technology and medical biotechnology as a whole.” Matthias added that German medical biotech is diverse. He noted that contributes to the vitality of the sector here, which benefits patients and the country as an industrial location as well.
The BCG report is further evidence of the strength of medical biotechnology in Germany. The export initiative for the German healthcare industry, HEALTH MADE IN GERMANY, is a good place to find out more about the sector. The initiative has published the German Medical Biotechnology Industry Profile and produced a video Medical Biotechnology Made in Germany to provide information on German medical biotech for interested individuals and businesses from abroad.