Portugal Pharmaceutical Market Growth

Strategic Opportunities for U.S. Companies in Portugal’s Growing Pharmaceutical Market

Portugal’s pharmaceutical market is on a steady growth trajectory, projected to reach between $2.1 and $2.5 billion by the end of 2025. Driven by an aging population and rising demand for advanced therapies, particularly in oncology and biotechnology, Portugal offers fertile ground for U.S. pharmaceutical and biotech firms, as well as U.S. exporters, seeking European expansion. 

Portugal’s regulatory framework, overseen by INFARMED, is fully aligned with EU standards. The market features a strong presence of U.S. multinationals such as Pfizer, Johnson & Johnson, Amgen, AbbVie, Merck, and Organon, many of which conduct clinical trials and maintain shared service operations in the country. Portugal’s clinical research ecosystem is supported by organizations like AIBILI and Blueclinical, which collaborate with international sponsors and participate in pan-European networks, strengthening cross-border R&D capacity.

U.S. companies and exporters can leverage Portugal’s strengths can leverage Portugal’s strengths in biotech innovation, digital health, clinical trials, and academic partnerships. The country’s start-up ecosystem, government-backed R&D incentives, and strategic role in European medicine supply chains further reinforce its attractiveness as a strategic partner in the life sciences. 

Portuguese pharmaceutical firms are increasingly active in the U.S. market. Hovione, a leading Contract Development and Manufacturing Organization (CDMO), operates a facility in New Jersey and is investing over $170 million in global expansion. Bluepharma, a shareholder of Aggrega Pharma, has pioneered FDA approvals for solid oral dosage forms from Portugal and focuses on oncology and advanced drug delivery technologies. Bial, the country’s largest pharmaceutical company, is expanding its U.S. footprint through Bial USA, with FDA-approved neurology and rare disease treatments marketed via licensing partnerships, underscoring its commitment to global innovation.

Portugal can serve as a strategic entry point into Europe’s life sciences sector, where U.S. exporters that build local partnerships, align with EU regulatory standards, and respond to Portugal’s rising demand stand to benefit from the country’s expanding pharmaceutical market and central role in healthcare modernization.

While Portugal offers attractive opportunities, companies should anticipate certain challenges. Lengthy reimbursement timelines, workforce constraints in specialized biotech and pharmaceutical fields, and strict budgetary controls can limit growth. In addition, the legal framework for intellectual property remains complex, requiring careful navigation.

For more information, please contact Ana Paula Vila at ana.vila@trade.gov