In this article, we will be covering the top 5 medicine producing countries in the world. If you want to read our detailed analysis of the pharmaceutical industry and emerging trends, go directly to the Top 16 Medicine Producing Countries in the World.
5. Ireland
2021 Medicine Production: $62,683,162,479
Population: 4,937,790
Medicine Production per Capita: $12,695
Ireland is the fifth biggest exporter of pharmaceutical products in the world. The country has established itself as a leading global centre for pharmaceutical manufacturing. Due to the low corporate tax in the country, numerous leading pharmaceutical companies like Pfizer Inc. (NYSE:PFE), Merck & Co., Inc. (NYSE:MRK), AbbVie Inc. (NYSE:ABBV), Bristol-Myers Squibb Company (NYSE:BMY), and Johnson & Johnson have established their manufacturing facilities in Ireland. The country provides convenient shipping facilities across the Atlantic as well.
4. Japan
2021 Medicine Production: $80,905,415,722
Population: 126,476,460
Medicine Production per Capita: $640
Japan is the third biggest pharmaceutical market in the world, with an annual estimated consumption of over $100 billion. The country is a key export market for pharmaceutical goods manufactured in the US. Japan has an ageing population that is playing an integral role in the strong demand for pharmaceutical products.
3. Germany
2021 Medicine Production: $103,428,978,885
Population: 83,783,940
Medicine Production per Capita: $1,234
Germany is the biggest exporter of pharmaceutical products in the world and employs 143,000 people in the pharmaceutical industry. The country has the biggest pharmaceutical market in Europe and the fourth biggest in the world, with an annual consumption worth $64.6 billion. The significant level of pharmaceutical consumption in Germany is due to high healthcare spending and a large population.
2. China
2021 Medicine Production: $171,300,816,183
Population: 1,471,286,870
Medicine Production per Capita: $116
China has the distinction of being the biggest producer of pharmaceutical ingredients in the world. The most populous country in the world has a rising middle class, an increasing footprint of healthcare coverage, and an ageing population. Generic drugs and APIs make it the number one drug maker in the world in terms of volume. The country has a very tough drug approval process that takes significantly longer than other developed countries of the world.
1. United States of America
2021 Medicine Production: $516,664,631,098
Population: 331,002,650
Medicine Production per Capita: $1,561
The United States of America is the biggest pharmaceutical market in terms of consumption and import and the third largest in terms of export. The high level of healthcare spending alongside advanced healthcare infrastructure and a significant population plays an integral part in the strong demand for pharmaceutical products in the country.
Disclosure: None. You can also take a look at the 20 Largest Exporters of Blueberries in the World and the 20 Biggest Infrastructure Companies in the US.
