Pharma Industry in Bulgaria | 2022 edition
The first edition of 2022 Pharma Industry Report Bulgaria gives insights to all decision-makers who wish to get familiar with the current state of play in the pharmaceuticals sector in Bulgaria and provides an update on the current state of the market.
Bulgaria’s pharmaceuticals industry was one of the few to increase its size in the pandemic-hit 2020, reaching an aggregate operating revenue of EUR 6.85 bln. The COVID-19 pandemic proved to be an opportunity for the industry as it accelerated its annual growth rate to 12.2% from 10.3% in the previous year.
Forecasts based on the compound annual growth rate (CAGR) in the period 2018-2020 show that the aggregate operating revenue of Bulgarian pharmaceutical companies could exceed EUR 9 bln by 2023. In addition, almost 2,000 new employees are projected to join the industry by 2023.
Pharmaceuticals are one of the stable and growing sectors of Bulgaria’s economy and should be monitored closely!