Mid-sized pharmaceuticals are companies with annual revenue ranging from $1 billion to $10 billion. Mid-sized pharmaceutical companies include drug development, niche market targeting, regional presence, partnerships, generic drug manufacturing, and contract manufacturing.
Sizing and Forecast
The mid-size pharmaceuticals market size has grown strongly in recent years. It will grow from $678.75 billion in 2023 to $727.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to generic drug market growth, patent expirations of blockbuster drugs, healthcare cost containment measures, biotechnology expansion, regulatory changes encouraging innovation..
The mid-size pharmaceuticals market size is expected to see strong growth in the next few years. It will grow to $935.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing shift towards value-based care models, regulatory pathway streamlining, increased health awareness and patient empowerment, demand for generic and biosimilar drugs, emergence of digital therapeutics.. Major trends in the forecast period include increased focus on patient-centric approaches, adoption of artificial intelligence (ai), global market expansion strategies, environmental sustainability initiatives, telemedicine and remote patient monitoring..
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Segmentation & Regional Insights
The mid-size pharmaceuticals market covered in this report is segmented –
1) By Drug Development Type: In-House, Outsource
2) By Type: Prescription, Over the Counter
3) By Formulation: Tablets, Capsules, Injectables, Sprays, Other Formulations
4) By Application: Cardiovascular Diseases, Pain Management, Diabetes, Cancer, Other Conditions
North America was the largest region in the mid-size pharmaceutical market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mid-size pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increased prevalence of chronic diseases is expected to propel the growth of mid-size pharmaceuticals market going forward. Chronic diseases, also known as non-communicable diseases, are long-term medical conditions that require ongoing management and treatment which leads to high demand for medications. Mass spectrometry techniques are used for the identification, quantification, and analysis of biomarkers and metabolites associated with chronic diseases. A rise in the prevalence of chronic diseases will contribute to the growth of the mid-size pharmaceuticals market. For instance, in January 2023, according to the National Library of Medicine, a US-based biomedical library, there will be 142.66 million people aged 50 and older in 2050 who have at least one chronic disease, up from 71.522 million in 2020, a 99.5% rise. Therefore, the increasing prevalence of chronic diseases is driving the growth of the mid-size pharmaceuticals market.
Key Industry Players
Major companies operating in the mid-size pharmaceuticals market report are Baxter International Inc., Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co Ltd., Arkema Inc., Astellas Pharma Inc., Daiichi Sankyo Co. Ltd., Alexion Pharmaceuticals Inc., UCB S.A., Sun Pharmaceutical Industries Ltd., Eisai Co. Ltd., Wuxi AppTec co. Ltd., Les Laboratoires Servier S.A., Hospira Inc., Perrigo Co Plc, Aurobindo Pharma Lmited., Cipla Limited, Hikma Pharmaceuticals, Endo International plc, Taisho Pharmaceutical Holdings Co. Ltd., BioMarin Pharmaceutical Inc., Mallinckrodt Plc, Exelixis Inc., Mylan Pharmaceuticals Inc., Neurocrine Biosciences Inc., Kyowa Kirin Co. Ltd., Emergent BioSolutions Inc.
The mid-size pharmaceuticals market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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