3. Economic Environments of the Subgroups

The economic environments in which the subgroups operated are outlined below.

Economic Environments of the Subgroups

 

 

Growth1 2014

 

Growth1 2015

2014 figures restated

1

Bayer’s estimate, except pharmaceuticals. Source for pharmaceuticals market: IMS Health., IMS Market Prognosis. Copyright 2015. All rights reserved, currency-adjusted

2

Excluding the diabetes care market

As of February 2015

HealthCare

 

 

 

 

Pharmaceuticals market

 

+9%

 

+9%

Consumer care market

 

+4%

 

+5%

Medical care market2

 

−1%

 

+1%

Animal health market

 

+5%

 

+5%

CropScience

 

 

 

 

Seed and crop protection market

 

+7%

 

≤ 0%

Covestro
(main customer industries)

 

 

 

 

Automotive

 

+3%

 

+2%

Construction

 

+3%

 

+2%

Electrical / electronics

 

+4%

 

+3%

Furniture

 

+4%

 

+4%

HealthCare

Growth in the pharmaceuticals market in 2015 was flat with the prior year. In the United States in particular, new products especially continued to drive ongoing growth. In Japan and Europe, growth rates increased slightly, whereas demand in the emerging markets was unchanged against the previous year.

The global consumer care market saw somewhat stronger growth than a year earlier. In the medical care category, slight growth was seen in the market for contrast agents and medical equipment. The animal health market expanded at the same rate as in the prior year.

CropScience

Overall, the global seed and crop protection market receded in 2015. While the demand for high-value seeds remained at the previous year’s level, worldwide crop protection sales declined.

Market volumes decreased in Latin America, particularly in Argentina and Brazil, primarily as a result of political uncertainties, macroeconomic developments and lower pest pressure. The market also declined in North America, mainly due to a reduction in corn and cotton acreages and because of lower overall price levels for agricultural commodities than in the previous year. Positive growth impetus for the seed and crop protection market in 2015 came from the Asia / Pacific and Europe regions. Growth rates in the Mediterranean area were above average.

Covestro

Growth in the principal customer industries for Covestro (automotive, construction, electrical / electronics and furniture) in 2015 was slightly weaker than in the previous year. One of the main reasons for this was slower demand in China and other emerging economies, which could not be compensated by positive stimuli such as the expansionary monetary policy of the industrialized countries and the lower oil price.