The Pharmaceutical Drugs by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pharmaceutical Drugs, The pharmaceutical drugs market size has grown strongly in recent years. It will grow from $1199.86 billion in 2023 to $1267.05 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rise in healthcare awareness, increased prevalence of respiratory diseases, changes in lifestyles, increase in pharmaceutical research and development (r&d) expenditure, increasing aging population, increased number of surgical procedures, strong economic growth in emerging markets and increased number of approvals for hematology/oncology (cancer) drugs..
The pharmaceutical drugs market size is expected to see rapid growth in the next few years. It will grow to $2092.95 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to increasing government support, increase in healthcare access, increase in investments, rapid growth in elderly population, rise in healthcare expenditure and rising awareness on immunization and vaccination. Major trends in the forecast period include use of biomarkers for drug development, increased development of next generation biologics, increased focus on personalized medicine, investment in artificial intelligence (ai) for drugs discovery, combination drug therapy to treat respiratory diseases, partnerships with wearables companies to improve drug research and development, use of 3d printing technology in drug manufacturing, microneedle pills to improve and enhance drug delivery and development of vaccines using mrna.
The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, Noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 74% of all deaths globally. Thereby increasing the need for biologics drugs for diabetic patients. These factors are expected to increase the patient pool globally, thereby driving the pharmaceutical drug market during the forecast period.
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The pharmaceutical drugs market covered in this report is segmented –
1)By Type: Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Musculoskeletal Disorder Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Disease Drugs, Vaccine And Therapeutic Nutrients, Minerals
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Other Distribution Channels
3) By Drug Classification: Branded Drugs, Generic Drugs
4) By Mode Of Purchase: Over-The-Counter (OTC) Drugs, Prescription-Based Drugs
Sub segments: Anti-Hypertensive Drugs, Hypolipidemic, Anti-Thrombotic, Angina Pectoris, Congestive Heart Failure, Other Drugs For Cardiovascular Diseases (Anti-Arrhythmic And Anti-Anginal Drugs), Acne, Dermatitis, Psoriasis, Other Drugs For Dermatology Diseases, Antacids, Antiulcerants, Antiemetics And Antinauseants, Antidiarrheals, Hormonal Contraceptives, Drugs For Benign Prostatic Hyperplasia, Drugs For Infertility, Drugs For Erectile Dysfunction, Drugs For Urinary Incontinence, Overactive Bladder, Drugs For Infections And Others, Drugs For Hormonal Replacement Therapy, Diuretics, Blood Products And Anemia, Other Blood Disorder Drugs, Antibiotics, Antivirals, Antifungals, Others (Anthelminthic, Antiprotozoal), Anti-Diabetic Drugs, Anti-Thyroid Drugs, Anti-Obesity, Others, Drugs For Rheumatoid Arthritis, Muscle Relaxants, Other Musculoskeletal Disorders Drugs, Analgesics, Anti-Parkinson Drugs, Anesthetics, Anti-Epileptics, Alzheimer, Other CNS Drugs, Drugs For Lung Cancer, Pancreatic Cancer, Breast Cancer, Prostate Cancer, Ovarian Cancer, Colorectal Cancer, Gastric Cancer, Kidney Cancer, Brain Tumor, Thyroid Cancer, Skin Cancer, Bladder Cancer, Cervical Cancer, Blood Cancer, Others, Antiglaucoma Drugs, Dry Eye Medication, Other Ophthalmology Drugs, Anti-Asthmatics And COPD Drugs, Cough And Cold Preparations, Therapeutic Vaccines And Preventive Vaccines, Electrolytes And Minerals, Vitamins
Major companies operating in the pharmaceutical drug market are introducing innovative drugs such as Sohonos (palovarotene) capsules to gain a competitive edge in the market. Sohonos is a retinoid indicated for the reduction in volume of new heterotopic ossification in patients with fibrodysplasia ossificans progressiva (FOP). For instance, in August 2023, Ipsen Biopharmaceuticals, Inc., a France-based biopharmaceutical company, developed Sohonos (palovarotene), a retinoid indicated for the reduction in volume of new heterotopic ossification in adults and pediatric patients aged 8 years and older for females and 10 years and older for males with fibrodysplasia ossificans progressiva (FOP). FOP is a rare genetic disorder of the connective tissue characterized by heterotopic ossification, which is the abnormal development of bone in areas of the body where bone is not normally present, such as the ligaments, tendons, and skeletal muscles. The disease progresses to cause limited movement, deformities, and severe disability.
The pharmaceutical drugs market report table of contents includes:
1. Executive Summary
2.Pharmaceutical Drugs Market Characteristics
3.Pharmaceutical Drugs Market Trends And Strategies
4.Pharmaceutical Drugs Market analysis
5.Pharmaceutical Drugs Market Size And Growth
6.Pharmaceutical Drugs Segmentation
7.Pharmaceutical Drugs Regional And Country Analysis
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27. Pharmaceutical Drugs Competitive Landscape And Company Profiles
28.Pharmaceutical Drugs Key Mergers And Acquisitions
29.Pharmaceutical Drugs Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pfizer Inc.
- AbbVie
- Johnson & Johnson
- Merck & Co
- Sanofi S.A.
- F. Hoffmann-La Roche Ltd.
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