Swiss chemical and pharmaceutical industry remains competitive

13 November 2023 09:51

Zurich CCGreater Zurich

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Zurich/Basel - The Swiss chemical and pharmaceutical industry has ranked third for competitiveness in 2023 after dropping one place compared to last year, according to the latest study by BAK Economics. The study was commissioned by scienceindustries.

The Swiss chemical and pharmaceutical industry ranks third behind Ireland and the USA in terms of competitiveness in 2023. These are the findings of the Global Industry Competitiveness Index 2023 conducted by the independent Basel-based economic research and consulting institute BAK Economics. The study was commissioned by scienceindustries, the Zurich-based trade association for the chemical, pharmaceutical and life sciences industries.

Compared to the previous year, Switzerland has dropped one place in the overall ranking. It continues to lead the field in the performance criterion and is in second place for location quality. In terms of innovation and technology leadership, it climbed one place to third, while it remains in fourth place for market position and performance.

The study results were reported in a statement from scienceindustries entitled “The competitiveness of chemicals and pharma depends on regulation". With the title, the association is referring to the fact that Switzerland performed poorly in the business regulation category, achieving only 18th place. According to the report, administrative hurdles for companies, such as the number of procedures and their length, proved to be a particular challenge in the international comparison. The study also sees potential for improvement in digitalization, where Switzerland ranks 19th.

“The Swiss chemical and pharmaceutical industry continues to be a global leader,” said Dr. Matthias Leuenberger, President of scienceindustries, at this year's annual event. “To maintain this position, we need a regulatory environment that enables innovation - the new Swiss parliament is on top of this.” ce/mm

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