The global pharmaceuticals market is anticipated to grow at a considerable CAGR of 6.7% during the forecast period (2023–2030). According to EUROSTAT data, the pharmaceutical industry has the highest added value per person employed, which is significantly higher than the average value for high-tech and manufacturing industries. The pharmaceutical industry also has the highest R&D investment to net sales ratio. The key factor driving this growth of the market is that the pharmaceutical and biotechnology sectors account for 18.4% of total business R&D expenditure worldwide, according to the 2020 EU Industrial R&D Investment Scoreboard. Countries across the globe are focused on new drug development activities to meet the rising drug demand. For instance, according to the European Federation of Pharmaceutical Industries and Association, in 2019, the pharmaceutical industry in Europe invested more than €37,700 million ($40,323.9 million) in R&D.
Browse the full report description of “Pharmaceuticals Market Size, Share, and Trends Analysis Report By API Type (Synthetic Chemical API and Natural Chemical API), By Drug (Prescription Drugs and OTC Drugs), By Application (Oncology, Ophthalmology, Cardiovascular Disease, Gastrointestinal Disorders, Diabetes, Endocrinology, Central Nervous System & Neurological Disorders, and Nephrology), Forecast Period (2023–2030)” at https://www.omrglobal.com/industry-reports/pharmaceuticals-market
Another factor contributing to the market’s growth is the increasing number of patients as well as the geriatric population, which is more susceptible to diseases. For instance, according to the World Health Organization (WHO), by 2050, one-fourth of the population in the Asia Pacific region will be 60 or older, owing to declining fertility and increased longevity. Besides, the key market players, such as AstraZeneca, Aurobindo Pharma, Baxter, and others, are contributing to the market with various mergers, acquisitions, expansions, and investment activities.For instance, in February 2023, Gland Pharma announced that it would invest INR 400 crore ($48.4 million) to expand its existing facility in Genome Valley to produce biologicals, biosimilars, antibodies, and recombinant insulin. Additionally, in March 2023, Unicycive Therapeutics, Inc., a clinical-stage biotechnology firm developing therapies for kidney disease patients, announced that it had signed a securities purchase contract with certain healthcare-focused institutional investors, which will raise up to $130 million in gross funds for Unicycive through a private placement that includes a $30 million upfront funding.
Market Coverage
• The Market Number Available for – 2022-2028
o Base year- 2022
o Forecast period- 2023-2030
• Segment Covered-
o By API Type
o By Drug
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape-Lupin Pharmaceuticals Inc., Merck & Co. Inc., Novartis AG, Pfizer Inc., Sanofi, and others.
Key questions addressed in the report
• What is the market growth rate?
• Which segment and region dominated the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected regions and segments
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Pharmaceuticals Market Report Segment
By API Type
By Drug
By Application
Global PharmaceuticalsMarket Report Segment by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East and Africa
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