| Study Period | 2020 - 2030 |
| Market Size (2025) | USD 8.40 Billion |
| Market Size (2030) | USD 11.17 Billion |
| CAGR (2025 - 2030) | 5.87 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Belgium Pharmaceutical Market Analysis
The Belgium Pharmaceutical Market size is estimated at USD 8.40 billion in 2025, and is expected to reach USD 11.17 billion by 2030, at a CAGR of 5.87% during the forecast period (2025-2030).
Belgium is expected to hold a significant share of the European pharmaceutical market. The market is anticipated to grow due to factors such as increasing expenditures on healthcare and medicines and the rising burden of diseases in the country.
Belgium's pharmaceutical market has established itself as a global leader, driven by significant investments in research and development. For instance, according to the data published by the International Trade Administration (ITA), United States Department of Commerce in January 2024, Belgium's pharmaceutical sector invests USD 1.64 billion annually in research and development, representing 40% of all private investment in the country. Consequently, Belgium hosts 29 of the world's top 30 pharmaceutical companies, including significant subsidiaries of major United States corporations such as Johnson & Johnson and Pfizer. Therefore, it is anticipated that the creation of novel pharmaceuticals due to Belgium's increasing R&D spending will fuel the market's expansion.
Further, the growing prevalence of chronic diseases such as cancer and diabetes in Belgium is anticipated to fuel the expansion of the country's pharmaceutical industry. For instance, according to data published by the Global Cancer Observatory (GCO) in February 2024, reported that there were 84.3 thousand new cases of cancer are expected to be diagnosed by 2025 in Belgium, further reaching 90.6 thousand new cancer cases by 2030. Additionally, a study published in the Population Health Metrics in April 2024, estimated that 9.93 thousand people in Belgium will have diabetes by 2030. This increasing burden of chronic diseases is expected to significantly boost the demand for innovative pharmaceutical solutions, thereby driving the growth of Belgium's pharmaceutical market.
Therefore, the rising research and development expenditure and rising prevalence of chronic diseases such as cancers and diabetes, among others are expected to drive the growth of Belgium pharmaceutical market over the forecast period. However, socioeconomic inequality is expected to restraint the market growth in Belgium.
Belgium Pharmaceutical Market Trends
The Cardiovascular System Segment is Expected to Register Significant Growth Over the Forecast Period
The cardiovascular system segment is anticipated to experience significant growth over the projection period. owing to factors including the high prevalence of cardiovascular illnesses as a result of alterations in lifestyle, drug approval by regulators, scientific advancements, and rising public awareness of heart health are projected to fuel segment growth. A common class of medications used to treat cardiovascular disease includes ACE inhibitors, aldosterone inhibitors, beta-blockers, calcium channel blockers, medicines that decrease cholesterol, vasodilators, and angiotensin II receptor blockers (ARBs).
The high prevalence of cardiovascular illnesses in Belgium creates a demand for medications for treatment and propels market expansion. For instance, an article published by Bristol Myers Squibb in February 2024 mentioned that approximately 19 thousand individuals in Belgium experience a stroke every year, and an additional 15 thousand experience a heart attack annually. Thus, the high burden of cardiovascular disease is anticipated to fuel the segment expansion.
The segment growth is also driven by the growing number of research projects developing new medications. For instance, according to the retrieved from the ClinicalTrials.gov in November 2024, around 1.93 thousand research trials on the development of a treatment for cardiovascular disorders were currently taking place in Belgium. Thus, owing to the abovementioned factors, the market segment is expected to witness growth over the forecast period.
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Branded Drugs are Expected to Witness Largest Market share in the Belgium Pharmaceutical Market Over the Projected Period
Branded drugs refer to pharmaceutical products developed, manufactured, and sold under a unique name or trademark owned by a particular pharmaceutical company. Usually, these drugs are safeguarded by patents, which provide the manufacturer with exclusive rights to manufacture and sell the medicines for a designated timeframe. These medications are expected to hold the largest market share, bolstered by substantial investments in research and development, collaborative partnerships, and the launch of innovative therapies.
The rising research and development in the country to develop innovative branded medications is anticipated to fuel the segment's growth. For instance, in March 2023, Leuven researchers in Belgium conducted a randomized phase-3 study demonstrating that treatment with the brand-novel medication nirogacestat, a gamma-secretase inhibitor, led to significant improvements in aggressive desmoid tumors compared to the placebo group. Around 91% of patients experienced partial or complete relief from their symptoms, and the risk of tumor growth was reduced by 70%. Thus, such research studies conducted by the market players to develop new branded medications with enhanced clinical efficacy and safety are expected to fuel the segment's growth.
Market player strategies such as product approvals and collaborations are also expected to enhance the availability of branded medications in the country, driving the segment's growth. For instance, in January 2024, the Belgium Federal Agency for Medicinal and Health Products (FAMHP) approved the branded medication Libmeldy for treating the rare genetic disorder metachromatic leukodystrophy in Belgium. Thus, market player initiatives such as product approvals are anticipated to enhance the segment expansion.
Hence, owing to factors such as rising investments and product approvals by the market players, the branded drugs segment is expected to grow significantly in the country over the forecast period.
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Belgium Pharmaceutical Industry Overview
The Belgium pharmaceutical market is highly competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some prominent players are vigorously making acquisitions and joint ventures with other companies to consolidate their market positions in the country. Some of the key companies currently dominating the market are AbbVie Inc., AstraZeneca PLC, Bayer AG, Boehringer Ingelheim International GmbH, and GlaxoSmithKline PLC, among others.
Belgium Pharmaceutical Market Leaders
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AstraZeneca plc
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AbbVie Inc.
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Bayer AG
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GlaxoSmithKline plc
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Boehringer Ingelheim International GmbH
- *Disclaimer: Major Players sorted in no particular order
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Belgium Pharmaceutical Market News
- June 2024: Gedeon Richter Plc. completed the acquisition of BCI Pharma, a privately owned biotech company based in Belgium that conducts innovative research on various women's health issues. This acquisition aligned strategically to create a new standard for precision treatments in women's health.
- May 2024: The pharmaceutical project Med4Cure initiative received approval from the European Commission, public funding of nearly USD 1.1 billion was distributed among 13 participating companies, including OncoRNA from Belgium. This investment aims to catalyze an extra USD 6.5 billion (EUR 5.9 billion) in private investment.
Belgium Pharmaceutical Industry Segmentation
As per the scope of this report, pharmaceuticals are referred to as prescribed and non-prescribed drugs. These medicines can be bought by an individual with or without the doctor's prescription and are safe for consumption for various illnesses. The Belgium Pharmaceutical Market is segmented by ATC/therapeutic class and drug type. By ATC/therapeutic class, the market is segmented into alimentary tract and metabolism, blood and blood-forming organs, cardiovascular system, dermatologicals, genito urinary system, systemic hormonal preparations,nervous system, musculoskeletal system, respiratory system, and other therapeutic classes. By drug type, the market is segmented into prescription drugs and OTC. By prescription drugs, the market is sub-segmented into branded and generics. For each segment, the market size is provided in terms of USD value.
| By ATC/Therapeutic Class | Alimentary Tract and Metabolism | ||
| Blood and Blood Forming Organs | |||
| Cardiovascular System | |||
| Dermatologicals | |||
| Genito Urinary System | |||
| Systemic Hormonal Preparations | |||
| Nervous System | |||
| Musculoskeletal System | |||
| Respiratory System | |||
| Other ATC/ Therapeutic Class | |||
| By Drug Type | Prescription Drugs | Branded | |
| Generics | |||
| OTC | |||
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Belgium Pharmaceutical Market Research FAQs
How big is the Belgium Pharmaceutical Market?
The Belgium Pharmaceutical Market size is expected to reach USD 8.40 billion in 2025 and grow at a CAGR of 5.87% to reach USD 11.17 billion by 2030.
What is the current Belgium Pharmaceutical Market size?
In 2025, the Belgium Pharmaceutical Market size is expected to reach USD 8.40 billion.
Who are the key players in Belgium Pharmaceutical Market?
AstraZeneca plc, AbbVie Inc., Bayer AG, GlaxoSmithKline plc and Boehringer Ingelheim International GmbH are the major companies operating in the Belgium Pharmaceutical Market.
Which is the fastest growing region in Belgium Pharmaceutical Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Belgium Pharmaceutical Market?
In 2025, the North America accounts for the largest market share in Belgium Pharmaceutical Market.
What years does this Belgium Pharmaceutical Market cover, and what was the market size in 2024?
In 2024, the Belgium Pharmaceutical Market size was estimated at USD 7.91 billion. The report covers the Belgium Pharmaceutical Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Belgium Pharmaceutical Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
