Spanish Pharma: 5 Key Industry Trends 2021

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According to recent IQVIA and industry association reports, the Spanish pharma market, valued at EUR 21.6 billion per year, continues to grow at a relatively slow pace. Other key trends include the fact that generics penetration in Spain has remained at a constant level for almost seven years and private capital raised by biotech companies skyrocketed in 2020. Here is a snapshot of the industry in five graphs:

 

The Spanish pharma market grows slightly in value, decreases in units

The total market is valued at EUR 21.6 billion, growing at a 1.5 percent rate in September 2021 (year-to-year).

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The private capital raised in the biotech sector rose 46% in the pandemic year

Although 2020 was a year when most of the economy was put on hold due to the healthcare crisis, the Spanish biotechnology sector held investors’ interest and saw the total volume of funding and number of operations increase again. The total surpassed EUR 150 million in 42 operations over the course of the year, with an average value of EUR 3.6 million.

Ona Therapeutics, a company that specializes in the discovery and development of therapeutic biological products targeting cells that initiate tumor metastasis and lipid metabolism, had the largest round, with EUR 30 million.

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Penetration of generics has stagnated at around 21% since 2015 in values, and 41% in units

Generics market share has remained stable for almost seven years in terms of value and units, below the European average. The country has more than 13 generics manufacturing plants that produce over 75 percent of the medicines consumed locally.

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Catalonia, Madrid, Andalusia and Valencia account for almost 60 percent of the market

Of the EUR 21.6 billion total turnover in the market, Andalusia, Madrid and Valencia accounted for almost two thirds of the total market. Andalusia remains the largest pharma market with a turnover of EUR 4.1 billion, growing 3.1 percent year-to-year.

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A total of 1,010 clinical trials were conducted during the pandemic year

Cancer was by far the therapeutic area with the most clinical trials conducted in 2020 with 351, followed by COVID-19-related clinical studies (146), nervous system (77) and immune system (51).

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