Overview:

The global pharmaceutical market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. The pharmaceutical industry covers tablets, capsules, sprays, injectables, powders, and other form of medicines. Also, the industry that develop, manufactures, and distributes various type of medicines for the prevention and treatment of various type of disease is referred as pharmaceutical industry.

Market Dynamics:

The growing incidence and prevalence of various chronic disease and increasing population are primary factors driving growth of the global pharmaceutical market. For instance, according to data published by The World Bank Group, in the year 2019 global population has reached to 7.674 Bn from 6.194 Bn in 2001. Additionally, according to Foresight Market Research, the prescription drug sales is expected to reach around US$ 1.11 Trn in the year 2023 and oncology is expected to hold largest market share in the overall sales. Also, as per the statistics published by National Cancer Institute, around 1,806,590 individuals will be diagnosed for cancer in the U.S. in 2020. These all factors expected to result in growth of the target market in the forecast period.

In addition, rising investment in drug development by key companies is expected to fuel growth of the global market. Many companies are investing huge amount to develop new drugs and therapies for the treatment of various chronic diseases including diabetes and cancer. Also, many key players on focusing on adoption of various advanced technology for development and manufacturing of various drugs which in turn expected to fuel growth of the global pharmaceutical market in the near future.

Key Trends:

Growing investment by key players for market expansion and capacity expansion is a key trend witnessed in the global pharmaceutical market. For example, in February 2020, AstraZeneca plc has announced an investment of US$ 134.9 Mn for the expansion of its Australia based manufacturing plant. This initiative is expected to result in the drug trade of US$ 2.97 Bn in next four years.

Regional Analysis:

For detailed understanding of market dynamics, the global pharmaceutical market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, the North America region dominates the global market with highest market share. This is highly attributed to presence of leading companies and high per capita spending on drugs in countries in the region. The U.S. is a leading country in terms of sales of pharmaceuticals in the global market. The well-established healthcare sector, high awareness about various disease and available treatment options, high availability of skilled healthcare professionals, and availability of reimbursement policy are some leading factors supporting growth of the target market in the region.

Additionally, the market in Asia Pacific region is expected to register highest CAGR during the forecast period. This is owing to growing patient population in countries such as India, Indonesia, and China. Additionally, rising health expenditure is another factor fueling market growth in the region.

Scope of the Report:

Detailed Segmentation:

Global Pharmaceutical Market, By Manufacturing Type:

• Inhouse
• Outsourcing

Global Pharmaceutical Market, By Type:

• Prescription Drugs
• Over-the-counter (OTC) Drugs

Global Pharmaceutical Market, By Formulation:

• Tablets
• Capsules
• Injectables
• Sprays
• Suspensions
• Powders
• Other Formulations

Global Pharmaceutical Market, By Route of Administration:

• Oral
• Topical
• Parenteral
• Inhalation
• Other Routes of Administration

Global Pharmaceutical Market, By Therapy Area:

• Cardiovascular Disease
• Pain Management
• Diabetes
• Cancer
• Respiratory Disease
• Other Diseases

Global Pharmaceutical Market, By Distribution Channel:

• Retail
• Online

Key Players Covered:

Key players operating in the global pharmaceutical market includes Novartis AG, F. Hoffmann-La Roche Ltd., Pfizer Inc., AstraZeneca plc, Merck & Co., Inc., Sanofi SA, Eli Lilly and Company, Lonza Group AG, Bristol Myers Squibb Co., and Gilead Sciences, Inc.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Pharmaceutical Market by manufacturing type, type, formulation, route of administration, therapy area, distribution channel, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2019 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global pharmaceutical market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.