Top 10 Pharmaceutical Exporters of 2023-24

In the world of pharmaceutical trade, some countries stand out as leading exporters of crucial medications. These top pharmaceutical exporters are critical in meeting the global demand for lifesaving pharmaceuticals. Germany ($119.85 billion), Switzerland ($99.08 billion), the United States ($90.30 billion), Belgium ($82.52 billion), and Ireland ($71.56 billion) were the largest exporters of pharmaceuticals in 2023. The HS code for Pharmaceuticals is 30. In this article, we will explore the top pharmaceutical exporters in the world for the fiscal years 2023 and 2024. 

• Global Pharmaceutical exports were valued at $834.80 billion in 2023 with a decrease of $9.70 billion from the previous year 2022.
• Pharmaceuticals ranked 7th in terms of global trade in 2023. 
• Global commerce in pharmaceuticals makes up about 3.52% of overall trade. 
• Chemical Products include pharmaceutical products. 
• Germany is the biggest pharmaceutical exporter with exports worth $119.85 billion in 2023 and $32.32 billion in 2024 Q1. 
• Pharmaceuticals include unpackaged medications, bandages, glands, and other organs; vaccines; blood; antisera; and packaged medications. 

Which country exports the most pharmaceuticals in FY23-24?

Germany is the world's largest exporter of pharmaceuticals, with $119.85 billion exported in 2023—a substantial 4% decrease from the previous year. According to the latest statistics, Germany is the biggest pharmaceutical exporter in the first quarter of 2024 with exports valued at $32.32 billion in 2024 Q1 followed by Switzerland ($27.14 billion), US ($22.13 billion), Ireland ($21.97 billion), France ($10.16 billion), UK ($6.91 billion), Spain ($4.32 billion), China ($2.94 billion), Canada ($2.55 billion), and Singapore ($2.44 billion). Germany is known for its high-quality pharmaceutical products and manufacturing technologies. Companies like Bayer, Boehringer Ingelheim, and Merck Group are prominent exporters of pharmaceuticals from Germany.

Who are the top 10 pharmaceutical exporters in the world in 2023?

The pinnacle and top pharmaceutical exporters in the globe are Germany, Switzerland, and the US. These nations are key players in the global pharmaceutical industry. They focus on research and development, have strong production capabilities, and follow strict regulations. The top pharmaceutical exporters work hard to meet the healthcare sector's growing needs while staying leaders in the industry. The main pharmaceutical exporters in 2023 include:

1. Germany: $119.85 billion (14.4%)

Germany exports the most pharmaceuticals to the USA worth $27.40 billion in 2023 with a share value of 22.9%. Germany’s pharmaceutical exports in 2023 decreased by 4% from 2022. Medicaments consisting of mixed or unmixed products are Germany's biggest pharmaceutical exports in 2023. 

2. Switzerland: $99.08 billion (11.9%) 

Switzerland exports the most pharmaceuticals to the USA worth $30.72 billion with a share value of 31% in 2023. Switzerland’s pharmaceutical exports increased by 1% in 2023 from the previous year. Human blood and animal blood for therapeutic or diagnostic use are the biggest pharmaceutical exports of Switzerland in 2023.

3. USA: $90.30 billion (10.8%) 

The US exports the most pharmaceuticals to China worth $9.89 billion and a share value of 11% in 2023. The USA’s pharmaceutical exports increased by 8% in 2023 from the previous year. Human blood and animal blood for therapeutic or diagnostic use are the biggest pharmaceutical exports of the USA in 2023.

4. Belgium: $82.52 billion (9.9%) 

Belgium exported the most pharmaceuticals to the US in 2023 worth $16.61 billion and a share value of 20.1%. Belgium’s pharmaceutical exports declined by 20% in 2023 from the previous year. Human blood and animal blood for therapeutic or diagnostic use are Belgium's biggest pharmaceutical exports in 2023.

5. Ireland: $71.56 billion (8.6%) 

Ireland’s biggest pharmaceutical export market is the US worth $20.19 billion and a share value of 28.2% in 2023. Ireland’s pharmaceutical exports declined by 5% in 2023 from the previous year. Human blood and animal blood for therapeutic or diagnostic use are Ireland's biggest pharmaceutical exports in 2023.

6. Italy: $50.32 billion (6%) 

Italy’s pharmaceutical exports are the most to the USA worth $8.43 billion and a share value of 16.8% in 2023. Italy’s pharmaceutical exports increased by 6% in 2023 from the previous year. Medicaments consisting of mixed or unmixed products are Italy's biggest pharmaceutical export  in 2023.

7. France: $38.01 billion (4.6%) 

France exports the most pharmaceuticals to Belgium worth $4.41 billion and a share value of 11.6% in 2023. Pharmaceutical exports from France increased by 1% in 2023 from the previous year. Medicaments consisting of mixed or unmixed products are the biggest pharmaceutical exports of France in 2023.

8. Netherlands: $34.19 billion (4.1%) 

The Netherlands exports the most pharmaceuticals to Germany worth $6.24 billion and a share value of 18.3% in 2023. The Netherlands' exports of pharmaceuticals increased by 20% in 2023 from the previous year. Medicaments consisting of mixed or unmixed products are the biggest pharmaceutical exports of the Netherlands in 2023.

9. United Kingdom: $27.49 billion (3.3%) 

The United Kingdom exported the most pharmaceuticals to the USA in 2023 with a share value of 29.2% valued at $8.02 billion. Pharmaceutical exports from the United Kingdom declined by 2% in 2023 from the previous year. Medicaments consisting of mixed or unmixed products are the biggest pharmaceutical exports of the United Kingdom in 2023.

10. Spain: $21.86 billion (2.6%) 

Spain’s pharmaceutical exports were the most to Belgium worth $4.81 billion and a share value of 22% in 2023. Spain’s pharmaceutical exports declined by 22% in 2023 from the previous year. Medicaments consisting of mixed or unmixed products are Spain's biggest pharmaceutical exports in 2023.

The Powerhouses of Pharmaceuticals: A Look at the Top Exporters

Germany, Switzerland, the US, Belgium, and Ireland are the pinnacle of the top five pharmaceutical exporters. The top pharmaceutical exporters and suppliers produced over 1/2 (49.9%) of all pharmaceuticals and remedies exported worldwide in 2023. Europe accounted for 79.9% of pharmaceutical exports in 2023, with shipments totaling $358.2 billion, making it the continent with the biggest dollar price of sales. Asia ranked 2nd in terms of pharmaceutical exporters with 9.9%, at the same time as North American suppliers accounted for 8.9% of world pharmaceutical exports. Smaller percentages got here from vendors of pharmaceutical products in Oceania (0.31%), particularly from Australia and New Zealand, following Africa (0.26%), and Latin America (0.7%), excluding Mexico however including the Caribbean.

Who are the top pharmaceutical exporters and supplier companies?

The market capitalization of the pinnacle 50 pharmaceutical companies is a whopping $4.7 trillion. However, because of the acute opposition from generics, huge pharma businesses may additionally lose $200 billion in income by 2030 due to several patents expiring. The ten largest pharmaceutical businesses inside the international run the chance of losing 46% of their sales as a result. The top valuable pharmaceutical company in the world, Eli Lilly, is an American organization that makes diabetic remedies. Its market valuation is above $578 billion. The largest Pharmaceutical-exporting and supplying companies with their market value in 2023 are:

• Eli Lilly (USA): $578.3 billion
• Novo Nordisk (Denmark): $452.8 billion
• Johnson & Johnson (USA): $377.7 billion
• Merck Group (Germany): $263.9 billion
• AbbVie (USA): $261.2 billion
• Roche (Switzerland): $222.4 billion
• AstraZeneca (United Kingdom): $212.2 billion
• Novartis (Switzerland): $201.1 billion
• Pfizer (USA): $181.3 billion
• Amgen (USA): $152.0 billion

Statistical data of the top pharmaceutical exporters in the last 5 years

What are the main pharmaceutical products exported in 2023?

The top pharmaceutical products exported in 2023 majorly include:

• Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses (HS Code 3004): $452.29 billion
• Human blood, animal blood prepared for therapeutic or diagnostic uses (HS Code 3002): $329.36 billion
• Pharmaceutical preparations (HS Code 3006): $19.68 billion
• Medicaments consisting of two or more constituents mixed for therapeutic uses (HS Code 3003): $14.57 billion
• Wadding, gauze, and bandages (HS Code 3005): $10.24 billion
• Dried glands and other organs for organo-therapeutic uses (HS Code 3001): $5.39 billion

How to find pharmaceutical exporters and suppliers at the best prices online?

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Conclusion

The top pharmaceutical exporters in the world play an essential function in assembling the worldwide demand for important healthcare merchandise. Countries just like the United States, Germany, Switzerland, and Belgium are leading the manner in generating and exporting exquisite pharmaceuticals to markets around the world. As the healthcare enterprise continues to conform, these pinnacle pharmaceutical exporters will continue to be critical gamers in ensuring access to life-saving medicines and remedies for humans worldwide.

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