Pharma sector production fell by close to a third in 2022

Production in the Irish pharmaceutical industry fell by almost a third in 2022, although the sector remains the country’s largest industrial producer by value, accounting for 32 per cent of all production last year.

Figures on industrial production released by the Central Statistics Office (CSO) on Thursday show that three key sectors, food, chemicals, and pharmaceuticals, accounted for 67.4 per cent of all production in Ireland last year, down from 73.8 per cent in 2021.

Production across the three key sectors has grown significantly in the past decade. Between 2013 and 2022, production of pharmaceuticals has increased by 45.7 per cent, food production has increased by 25.8 per cent, and production in the chemicals sector has increased by 106.7 per cent.

The three sectors had a combined net selling value (NSV) of €89 billion in 2022, while the total value of products produced in Ireland in 2022 was €132 billion, down 0.8 per cent on 2021 figures.

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The pharmaceutical sector reported the highest NSV in 2022, as production of basic pharmaceutical products and preparations reached €42.3 billion. This accounted for 32 per cent of Ireland’s overall production. However, this was an annual decrease of 27.2 per cent, down from €58.1 billion worth of production in 2021.

Meanwhile, food products accounted for 18 per cent of Ireland’s total NSV in 2022, at €23.8 billion, while production of chemicals and chemical products accounted for 17.4 per cent, or €23.0bn, of overall NSV.

The largest annual increases in production were recorded in the chemicals and chemical products sector, and the computer, electronic, optical and electrical equipment sector, both of which saw the total value of production rise by 52.5 per cent last year.

Of the 5,542 industrial enterprises surveyed by the CSO, the top 10 enterprises accounted for almost half (43.8 per cent) of the value of all products produced in Ireland last year, at €57.8 billion.

The top 50 industrial enterprises in the country accounted for 72.5 per cent, or €95.7 billion, of all industrial production in Ireland in 2022.