Pharmaceutical Drugs Industry Overview

The anti-hypertensive drugs market consists of sales of anti-hypertensive drugs and related services. These drugs are re used to prevent heart failure, kidney failure and acute stroke induced by hypertension. Some of the major anti-hypertensive drugs include diuretics, angiotensin-converting enzyme (ACE) inhibitors, and angiotensin II receptor antagonists. The market covered in the anti-hypertensive drugs market report is segmented by therapeutics into diuretics, angiotensin receptor blockers (ARBs), angiotensin converting enzyme (ACE) inhibitors, beta blockers, alpha blockers, calcium channel blockers, renin inhibitors, vasodilators; by disease source into primary hypertension, secondary hypertension; by end users into hospitals, clinics, homecare. The global anti-hypertensive drugs market is expected to grow from $24.17 billion in 2020 to $24.37 billion in 2021 at a compound annual growth rate (CAGR) of 0.8%. The slow growth is mainly due to the outbreak of COVID-19 as hypertensive drugs have a negative effect on COVID-19 patients. The anti-hypertensive drugs market is expected to reach $27.81 billion in 2025 at a CAGR of 3.4%. Sedentary lifestyle is a major driver for the growth of the anti-hypertensive drugs market. Consumption of junk food, lack of proper healthy and balanced diet, lack of proper sleep due to irregular work shifts have contributed to the increase in hypertension. Hypertension is the underlying factor for at least 45% of deaths due to heart disease and 51% of deaths due to stroke. Once the patient is diagnosed of hypertension, patients are required to use the drugs to control hypertension based on the severity of the condition. This creates a sustainable demand for the product and acts as a prominent driver for the growth of the market. Low awareness of the antihypertensive drugs amongst the population is one of the major restraints in the anti-hypertensive drugs market. Firstly, most of the people in developing nations neglect their health-check-ups and are not aware about the existing hypertension condition in them until they detect extreme symptoms Secondly, persons diagnosed with hypertension are not adherent to their medication schedule and stop taking medication after 1-2 weeks until symptoms return, thereby posing a huge challenge to the anti-hypertensive drugs market. For example, BMC Research notes published a research survey (from a developing country) which states that out of the total 112 hypertensive subjects with stroke, only 17% of them were adherent to antihypertensive medications. Lack of awareness and low drug adherence restraint the growth of antihypertensive market. Of late, there has been rise in use of combination therapies compared to monotherapy treatment. Monotherapy is the treatment of a hypertension with a single drug, while the use of combinations of drugs (Combination Therapy) allows for action on several different hypertensive mechanisms. When we combine the two drugs with different mechanisms of action, the effect is two to five times greater than monotherapy. Increasing the dose of monotherapy reduces coronary events by 29% and cerebrovascular events by 40%, while combining two antihypertensive agents with a different mechanism of action reduces coronary events by 40% and cerebrovascular events by 54%. Thus, the use of combination therapy provides greater protection to a target organ than increasing the dose of monotherapy. The trend of using combination therapy is thus more effective and is being widely accepted as well. The US Food and Drug Administration (FDA) issued a guidance on developing fixed-combination drugs to treat hypertension. This primarily focuses on the clinical development of two-drug combinations of previously approved products. US FDA expects to see a reduction in adverse effects for combinations that include doses below each drugs’ maximum dose compared to single drug regimens at their maximum dose. Earlier physicians typically started a patient on a single drug and titrated up to a maximum dose before adding additional drugs to their programme, current guidelines recommend starting patients on two drugs at less than their full doses. Hence, this guidance would keep a check on the fixed-combination drugs. Major players in the anti-hypertensive drugs market are Merck & Co. Inc., Astra Zeneca Plc, Daiichi Sankyo Company Limited, Johnson & Johnson Ltd., Pfizer Inc., Novartis AG, Sanofi SA, United Therapeutics, Ranbaxy Laboratories, Bayer AG, Lupin Limited, Boehringer Engelheim GmbH, and Bayer AG. The regions covered in the anti-hypertensive drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the anti-hypertensive drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global anti-hypertensive drugs market is segmented - 1) By Therapeutics: Diuretics, Angiotensin Receptor Blockers (ARBs), Angiotensin Converting Enzyme (ACE) Inhibitors, Beta Blockers, Alpha Blockers, Calcium Channel Blockers, Renin Inhibitors, Vasodilators 2) By Disease Source: Primary Hypertension, Secondary Hypertension 3) By End Users: Hospitals, Clinics, Homecare

The acne drugs market consists of sales of prescription acne drugs (Salicylic acid, Retin-A Micro, Onexton, and Solodyn) and related OTC non-prescription products (cleansers, lotions, gels, toners, masks and pads containing acne-fighting ingredients) which are used to treat skin diseases such as acne vulgaris and acne rosacea. Based on the type of acne, this market is segmented into inflammatory acne and non-inflammatory acne. The market in this report does not include the sales of drugs used for dermatitis and psoriasis. The market covered in the acne drugs market report is segmented by type into inflammatory acne, non-inflammatory acne; by end user into hospitals & clinics, pharmacies & drug stores, ambulatory surgical centres; by therapeutic class into retinoids, antibiotics, salicylic acid, benzoyl peroxide. The global acne market is expected to grow from $4.03 billion in 2020 to $4.04 billion in 2021 at a compound annual growth rate (CAGR) of 0.2%. The slow growth is mainly due to defering treatments related to skin due to the outbreak of COVID-19 that has led to reduced demand for drugs comparatively. The acne drugs market is expected to reach $4.61 billion in 2025 at a CAGR of 3.4%. An increase in the disposable income of people is one of the major drivers in the acne market. An increase in the disposable income is usually due to an improved economy leading to increased wages and salaries boosting healthcare expenditure. According to the Indian brand equity foundation (IBEF) 2018, India's rural per capita disposable income is estimated to increase at a CAGR of 4.4 percent to US$631 by 2020. Rise in disposable income increased expenditure on facial care products is expected to continue, thereby driving the market in the forecast period. Acne is a major problem worldwide, close to 90% of people suffer from some sort of acne. In America alone, close to 12 million people suffer from a severe acne problem, that can lead to scarring of the skin if left untreated, as a result many people purchase Acne care drugs and products. The presence of alternatives for acne treatment is one of the restraint on the acne drugs market. Due to availability of multiple alternatives, patients tends to choose one amongst many options on the basis of price, side effects, duration and many more. This increases the competition and hence, the competition cuts down a significant portion of business for the acne drugs market. For example, some of the alternatives for the acne treatment apart from acne drugs are Ayurveda, home remedy, laser and photodynamic therapy and extraction of whiteheads and blackheads using special tools like needles and forceps. Combination therapy is the latest trend in the acne market. Combination therapy is the process of combining two drugs with different mechanisms of action, such combinations of medication have a better efficacy and adherence when compared with monotherapy (the use of only a single drug by itself).The combination of a topical retinoid drug, which unclogs the pores, along with an antimicrobial drug, which is used to treat an infection is being used to treat acne. Example of combination therapy includes: Epiduo, Acanya, Ziana and Benzamycin produced by Galderma, Allergan, Medicis and Atrix respectively. The stringent regulations concerning the usage of drugs to treat Acne has an impact on the acne drugs market. The regulations have become stringent due to the various side-effects and adverse events caused during the course of treatment. Recently in India, the Central Drugs Standard Control Organization (CDSCO) has issued a warning regarding the safety guidelines concerning the use of the oral drug, Isotretinoin. The CDSCO has directed the State and Union Territories’ drugs controllers to check the labeling of Isotretinoin drug and make the end users aware of the serious birth defects the drug may cause. Further, the Subject Expert Committee (SEC) for Dermatology and Allergy has recommended that the drug should be sold only on the prescription of a dermatologist, manufacturers should provide a package insert in local languages and the retail chemists should maintain the details of retail sale of the drug. Hence, these strict guidelines and regulations would impact the growth of acne drugs market. In March 2019, Allergan acquired Envy Medical Inc. o at an undisclosed price. This deal will help Allergan reinforce their goal towards providing customers with enhanced skin care solutions. Envy medicals' technology used in skin resurfacing procedures like Dermalinfusion, which is a non-surgical, non-invasive skin resurfacing system will immensely help Allergan gain a strong presence in the acne market. Allergan plc is a pharmaceutical company established in 1948 and headquartered in Dublin, Ireland. Major players in the acne drugs market are Allergan, Galderma S.A., Valeant Pharmaceutical International Inc., Teva Pharmaceutical Industries Ltd. and Johnson & Johnson Services, Inc. The regions covered in the acne drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the acne drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global acne market is segmented - 1) By Type: Inflammatory Acne, Non-Inflammatory Acne 2) By End User: Hospitals & Clinics, Pharmacies & Drug Stores, Ambulatory Surgical Centres 3) By Therapeutic Class: Retinoids, Antibiotics, Salicylic Acid, Benzoyl Peroxide

The hypolipidemic drugs market consists of sales of hypolipidemic drugs and related services. This industry includes establishments that produce hypolipidemic drugs or agents that lower lipid and lipoproteins levels in the blood. These drugs can be used to prevent cardiovascular diseases and atherosclerosis in Hyperlipidemia patients. Some of the major hypolipidemic drugs include fibric acid derivatives, bile acid binding resins, nicotinamides, and cholesterol absorption inhibitors. The market covered in the hypolipidemic drugs market report is segmented by product type into cholic acid regulator, HMG-CoA reductase inhibitors, adenylate cyclase inhibitors, nicotinic acid drugs, others; by application into hospital, clinics, pharmacy, cardiovasology. The global hypolipidemics market is expected to decline from $16.23 billion in 2020 to $15.94 billion in 2021 at a compound annual growth rate (CAGR) of -1.8%. The decline is mainly due to the companies' production being impacted negatively by COVID-19, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The hypolipidemic drugs market is expected to reach $18.41 billion in 2025 at a CAGR of 3.7%. Shifts in diet and change in lifestyles of people is driving the growth of hypolipidemic drugs market. Increase in the consumption of unhealthy food, rising prevalence of smoking and drinking have led to an increase in the level of cholesterol intake by the people. According to a study by Global Burden of Disease (GBD) in 2019, high blood pressure contributed to almost 1.47 million deaths in India. The rising levels of cholesterol due to change in lifestyles of the people is rising demand for hypolipidemic drugs as they aid in lowering the cholesterol levels. The growth in the usage of biologics acts as a prime restraint that hinders the hypolipidemic drug market growth. Biologics are derived from living organisms like human beings, animals and microorganisms, different from chemical drugs or chemically synthesized drugs. The increasing preference towards hypolipidemic biologic medicines due to side effects concerns of using chemical synthesized drugs leads to decrease in the sales of traditional hypolipidemic chemical drugs and hence, hindering the hypolipidemic drug (chemical) market growth. According to Harvard Medical School, 10%-29% people who consume hypolipidemic drugs such as cholesterol-lowering statin drugs are suffering from muscle pains and aches. For instance, PCSK9 Inhibitors have been in use since 2015, to reduce LDL cholesterol. Amgens’ Repatha, a hypolipidemic biologic medicine, got the FDA approval for the treatment of hypolipidemia. Companies in this market are increasingly investing in using data generated from wearables in clinical trials to improve the speed, and efficiency of trials, and therefore reduce overall costs. By continuously capturing data from patients via wearable technologies, clinical trial sponsors may be able to reduce the burden of frequent site visits, which could improve patient dropout rates and overall clinical trial efficiencies. The use of wearables helps to tackle the challenge of patient recruitment, helps in monitoring patients, gives accurate and real time data and gives earlier decision-making opportunities, while the patient is undergoing a clinical trial. Pharmaceutical companies such as Sanofi and Pfizer have already invested in wearable technology to treat hypolipidemia. The EU agencies take 6 to 12 months to approve the hypolipidemic drugs. Moreover it requires all parts of the registration dossier to be submitted together unlike the US-FDA which accepts phased submissions. The US-FDA assess each technical section in 6 months which may increase to another 6 months if questions/concerns are raised. However, the technical sections’ assessment is done simultaneously and therefore the manufacturers should identify the time taking steps and plan the work accordingly and chalk out an estimated date of approval. Also, the license validity and renewal of the application in EU region takes a toll on the manufacturer and adds to the existing regulatory burden. Therefore, the manufacturers hypolipedimic drugs should plan well, communicate effectively in order to minimize the costs and reduce timelines. Major players in the hypolipidemic drugs market are ABBOTT LABORATORIES LIMITED, Apotex Fermentation Inc., Biocon Limited, Cadila Healthcare Limited and Chunghwa Chem Syn& Biotech Co., Ltd. The regions covered in the hypolipidemic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the hypolipidemic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global hypolipidemics market is segmented - 1) By Product Type: Cholic Acid Regulator, HMG-CoA Reductase Inhibitors, Adenylate Cyclase Inhibitors, Nicotinic Acid Drugs, Others 2) By Application: Hospital, Clinics, Pharmacy, Cardiovasology

The pharmaceutical active pharmaceutical ingredients (API) manufacturing market consists of sales of pharmaceutical active pharmaceutical ingredients and related services. Active pharmaceutical ingredients are used to produce drugs which treat various diseases such as cardiovascular diseases, rare genetic disorders, infections, metabolic disorders, cancers, respiratory diseases and others. Active pharmaceutical ingredient is a chemical which is responsible for the pharmacological activity in the living body and are used as a major base for preparation of drugs. The pharmaceutical API manufacturing market covered in this report is segmented by therapy area into cardiovascular disorders, metabolic disorders, neurological disorders, oncology, musculoskeletal disorders, NSAIDs, other therapeutics uses. The pharmaceutical active pharmaceutical ingredients (API) manufacturing market is also segmented by API type into chemical API, biological API and by drug type into innovative drugs, generic prescription, over-the-counter (OTC) drugs. The global pharmaceutical API manufacturing market is expected to grow from $170.06 billion in 2020 to $177.32 billion in 2021 at a compound annual growth rate (CAGR) of 4.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The pharmaceutical active pharmaceutical ingredients (API) manufacturing market is expected to reach $215.9 billion in 2025 at a CAGR of 5%. The rise in aging population is one of the major drivers of the pharmaceutical API manufacturing market. As the aging population increases, the demand for pharmaceutical drugs also increases. API acts as a specialty drug in these medicines to cure a particular disease. For instance, in 2019, number of people over the age of 65 were 703 million, in 2050, the number of elderly people is expected to double to 1.5 billion. This led to increase demand for pharmaceutical drugs, significantly impacting the pharmaceutical API manufacturing market growth. Stringent regulations for approval of pharmaceutical drugs acts as a restraint on the pharmaceutical API manufacturing market. Various regions have their own set of rules, guidelines, and regulations set by their respective drugs regulatory bodies. For example, in Japan, the manufacturers have to register an API with Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) through the country’s Drug Master File (DMF) system. Products like APIs and new excipients i.e. inactive substances used in a drug should be registered compulsorily. The API manufacturer is also responsible for DMF registration, even if they don't have their office in Japan. They should appoint an in-country caretaker (ICC) to apply on their behalf. Also, if there are any changes to be made to DMF products, either an application for change in registration or a minor change notification should be submitted by the ICC to the PMDA. This whole process delays the drugs approvals, thereby negatively affecting the pharmaceuticals API manufacturing market. Many companies use modern technologies such as process control, and powder handling to optimize API manufacturing. These technologies include advances in Lyophilization i.e. freeze-drying process. It is a low-temperature dehydration process which involves freezing the product, lowering pressure and then removing the ice formed. For instance, Telstar, a company that manufactures efficient integrated systems for pharmaceutical and manufacturing processes, developed LyoGistics Zero, an automatic loading and unloading system for freeze dryers to manufacture hazardous products. The system uses a linear magnetic driving mechanism which functions without racks and belts to reduce particle generation and this improves the hygiene in API manufacturing. Also, ILC Dover, a pharmaceutical company, developed JetBreaker system, a semi-automatic powder handling system that separates powdered media and buffers powders so that they can be mixed better in a solution. In January 2019, Bristol-Myers Squibb, a US-based company that discovers and manufactures biopharmaceutical products and drugs for cancer and other diseases acquired Celgene Corporation for $74 billion. With this acquisition, Bristol-Myers Squibb led to develop more innovative medicines and also result in a wider portfolio. Celgene Corporation, a US-based company that discovers, develops and commercializes medicines for cancer and inflammatory disorders. Major players in the pharmaceutical active pharmaceutical ingredients (API) manufacturing market are Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Boehringer Ingelheim), Pfizer, Inc. and Aurobindo Pharma. The regions covered in the pharmaceutical active pharmaceutical ingredients manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the pharmaceutical API manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global pharmaceutical API manufacturing market is segmented - 1) By Therapy Area: Cardiovascular Disorders, Metabolic Disorders, Neurological Disorders, Oncology, Musculoskeletal Disorders, NSAIDs, Other Therapeutics Uses 2) By API Type: Chemical API, Biological API 3) By Drug Type: Innovative Drugs, Generic Prescription, Over-The-Counter (OTC) Drugs

The generic pharmaceuticals market consists of sales of generic pharmaceuticals. A generic medicine is a medication designed to be identical as branded drugs marketed by private companies in dosage form, strength, safety, route of administration, performance characteristics, quality, and intended use. Generic drugs work in the same way as branded drugs in terms of clinical benefits. Generic drugs are manufactured after the expiration of the exclusive rights or patent of the branded drugs. For example, some of the generic drugs in the generic pharmaceuticals market include metformin, metoprolol, acarbose, acebutolol, aztreonam and many more. The generic pharmaceuticals market covered in this report is segmented by therapy into CNS, cardiovascular, dermatology, genitourinary/harmonal, respiratory, rheumatology, diabetes, oncology. It is also segmented by distribution channel into hospital pharmacies, retail pharmacies, online pharmacies; by type into biosimilar, simple generic, super generic; by drug delivery into oral, inectables, dermal/topical, inhaler. The global generic pharmaceuticals market is expected to grow from $233.66 billion in 2020 to $245.6 billion in 2021 at a compound annual growth rate (CAGR) of 5.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The generic pharmaceuticals market is expected to reach $331.54 billion in 2025 at a CAGR of 7.8%. The rising incidence of chronic diseases is one of the major drivers of the generic pharmaceuticals market. As more individuals are diagnosed with chronic diseases, they look for more medicines for the treatment. Branded drugs come at a premium price, while generic drugs are available at a lower cost having the same chemical composition of branded drugs. The low cost and same chemical composition and strength of generic drugs make a patient buy generic drugs instead of branded drugs. If it is a chronic disease, the treatment goes for a longer period of time and hence, the sales of generic drugs also increase. For instance, according to the WHO (World Health Organization), over the next 10 years, the deaths due to chronic disease is projected to increase by 17%. Also, in 2020, almost 3-quarters of all deaths in the world is due to chronic diseases. The lack of awareness about generic drugs is one of the restraints on the generic pharmaceuticals market. The high marketing and advertisement of branded drugs overshadow the availability of generic drugs which are substitute for expensive branded drugs. Thus, consumers opt for branded drugs despite the fact that the generic drugs carry the same chemical formulation as their counter branded drugs. According to an article published on CVS HEALTH, many doctors and pharmacists preferred to offer branded drugs to their patients over generic drugs. This prevents the patients to go for generic drugs as they develop a preconceived notion of generic drugs not being at par with branded drugs. For example, according to a research conducted by Sahana K Hebbar, on International Journal of Basic & Clinical Pharmacology, out of 100 patients and 50 non-medical staff, 95% of the patients and 60% of the non-medical staff didn't know about generic drugs. Thus, lack of awareness about the availability of generic drugs hamper the generic pharmaceuticals market. 3D printing technology has the ability to transform the manufacturing of drugs in the generic pharmaceuticals market. 3D printed pharmaceuticals help in improve R&D productivity and deliver new benefits to patients. 3D printing allows the manufacturer to produce drugs with customized size, shape, and texture which is not possible in traditional manufacturing of generic drugs. 3D printing can help the manufacturer to make generic drugs that have different release dates, appearances and taste. For example, GlaxoSmithKline (GSK) completed a study where ultraviolet (UV) and 3D printing were used to manufacture tablets to treat Parkinson's disease. Martin Wallace, director of GSK Technology, said that GSK is investing in 3D printing advantages to manufacture pills and tablets. Also, Aprecia pharmaceutical company launched 'ZipDose' technology which manufactures 3D printed drugs. The drug manufacturers must comply with the CGMP (Current Good Manufacturing Practice) regulations that come under the US Food and Drug Administration (FDA) which includes generic pharmaceuticals. The CGMP regulations require manufacturers to maintain a minimum quality standard for the methods, controls, and facilities used in manufacturing, packaging, and processing of drug product. The part- 99 of chapter 1 under title 21-Food And Drugs of CFR (Code of Federal Regulations) contains subparts from A to H. The whole part-99 describes the guidelines that need to be followed by drug manufacturers regarding the dissemination of information on human drugs, including biologics, and devices. The guidelines concern with the safety, effectiveness, or benefit of use that is not included in the approved labelling for a drug or device approved by the Food and Drug Administration for marketing. The guidelines regulate the information regarding the drugs that should be delivered to the health care practitioner, pharmacy benefit manager, health insurance issuer, group health plan, or federal or state government agency. In January 2020, ANI Pharmaceuticals, Inc., a USA based integrated specialty pharmaceutical company focused on developing, manufacturing, and marketing high quality branded and generic prescription pharmaceuticals acquired Commercial and Pipeline Generic Products from Amerigen Pharmaceuticals, Ltd. for $52.5M in cash. This acquisition substantially increases ANI Pharmaceuticals, Inc. commercial portfolio and late stage generic pipeline. Amerigen Pharmaceuticals, a USA based company focused on development, manufacture and sale of high quality generic pharmaceutical products. Major players in the generic pharmaceuticals market are Teva Pharmaceuticals, Mylan NV, Sandoz International GmbH, Hospira (Pfizer Inc.) and Sun Pharmaceutical. The regions covered in the generic pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the generic pharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global generic pharmaceuticals market is segmented - 1) By Therapy: CNS, Cardiovascular, Dermatology, Genitourinary/Harmonal, Respiratory, Rheumatology, Diabetes, Oncology 2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies 3) By Type: Biosimilar, Simple Generic, Super Generic 4) By Drug Delivery: Oral, Inectables, Dermal/Topical, Inhaler

The cannabis products market consists of sales of cannabis products and related services. Cannabis is a psychoactive drug which is obtained from the cannabis plant of the cannabaceae family. Cannabis can be used for the treatment of various diseases such as chronic pain, cancer pain, depression, anxiety disorders, sleep disturbances and neurological disorders. The cannabis products market covered in this report is segmented by product type into flower, concentrates, others. The cannabis products market is also segmented by usage into medical, recreational; by compound into THC-dominant, CBD-dominant, balanced THC & CBD; by route of administration into oral solutions and capsules, smoking, vaporizers, topicals, others. The global cannabis products market is expected to grow from $16.51 billion in 2020 to $18.37 billion in 2021 at a compound annual growth rate (CAGR) of 11.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cannabis products market is expected to reach $46.19 billion in 2025 at a CAGR of 25.9%. The growing applications of cannabis in the medical field is an important driver for the cannabis products market. Cannabis is a drug that comes from Indian hemp plants such as Cannabis sativa and Cannabis indica, with THC (delta-9 tetrahydrocannabinol) being the main active chemical in it. Cannabis has several medical applications in conditions such as nausea and vomiting, glaucoma, epilepsy, asthma. Hence, many countries have legalized the use of cannabis for medical applications despite it being a psychoactive drug. Medical applications of cannabis include treating cancer, chronic pain, depression, arthritis, diabetes, glaucoma, migraines, epilepsy, AIDS, Alzheimer's disease and Parkinson's disease. According to Harvard Health, around 85% of Americans supported legalizing medical marijuana, and at least several million Americans were using it. The presence of several legal norms related to the use and possession of cannabis is an important restraint on the cannabis products market. These norms include regulations of the Food and Drug Administration (FDA) as well as rules set up by the government of each state in the USA. The FDA reviews all applications of cannabis products for their safety and effectiveness. Despite having laws allowing cannabis businesses, many states in the USA still do not allow such businesses. For instance, Los Angeles, San Francisco, San Jose and San Diego have laws allowing cannabis businesses, but 80% of California’s nearly 500 municipalities do not allow retail marijuana businesses. Solar cannabis cultivation is an emerging trend in the cannabis products market. As cannabis cultivation requires a large amount of energy for lighting, heating, air-conditioning, and dehumidification systems, cannabis products manufacturing companies are investing in solar cannabis cultivation. This is mainly a result of legalizing cannabis products in various states of the USA, which is continuously increasing the consumption of energy and leading cannabis manufacturers to opt for solar cannabis cultivation. For instance, Aurora acquired 71 acres of land in Medicine Hat, Alberta, and installed a high-technology hybrid greenhouse cannabis production facility. The government of California regulates the safety in manufacturing cannabis under the California Code of Regulations, Title 17 Division 1. It states that every manufacturer of cannabis product should obtain a valid license issued by state cannabis licensing agency. To obtain an annual license for cannabis manufacturing, the manufacturer should submit the physical address of the manufacturing premises and a written security plan. The security plan should include the security measures to prevent access of unauthorized people into the manufacturing premises and prevention of loss or theft of cannabis and cannabis products. Hence, this is expected to maintain vigil on manufacturing of cannabis in the coming the years. In May 2018, Aurora acquired MedReleaf for $2.5 billion. This acquisition will benefit Aurora in increasing its annual production capacity of marijuana from 32,300 kgs to 570,000. MedReleaf Corp is a pharmaceutical company involved in producing and selling cannabis-based pharmaceutical products in Canada. It was founded in 2013 and is headquartered in Markham, Canada. Major players in the cannabis products market are Canopy Growth Corporation, Aphria Inc., Aurora Cannabis, Cara Therapeutics and GW Pharmaceuticals PLC. The regions covered in the cannabis products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cannabis products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global cannabis products market is segmented - 1) By Product Type: Flower, Concentrates, Others 2) By Usage: Medical, Recreational 3) By Compound: THC-Dominant, CBD-Dominant, Balanced THC & CBD 4) By Route Of Administration: Oral Solutions And Capsules, Smoking, Vaporizers, Topicals, Others

The vaccines market consists of sales of vaccines and related services. This industry includes establishments that produce anti-infective vaccines, autoimmunity vaccines and vaccines for cancer and other diseases. Vaccines create antibody-antigen reaction that helps in attaining resistance to the disease causing organism. Vaccines include recombinant vaccines, conjugate vaccines, live attenuated vaccines, inactivated vaccines, toxoid vaccines and others. The market covered in the vaccines market report is segmented by type into anti-infective vaccines, autoimmunity, others (cancer and others); by technology into conjugate vaccines, inactivated and subunit vaccines, live attenuated vaccines, recombinant vaccines, toxoid vaccines; by route of administration into intramuscular (IM), subcutaneous (SC), oral, others; by valance into monovalent, multivalent; by distribution channel into institutional sale, hospital pharmacies, retail pharmacies. The global vaccines market is expected to decline from $56.02 billion in 2020 to $55.97 billion in 2021 at a compound annual growth rate (CAGR) of -0.1%. The slow decline is mainly due to the outbreak of COVID-19 that has led to deferment of immunocompromised treatments. The vaccines market is expected to reach $85.93 billion in 2025 at a CAGR of 11.3%. Rising awareness on immunization and vaccination benefits in emerging markets is consistently driving the global vaccines market growth. World Health Organization (WHO) is taking initiatives to increase awareness of immunization through global vaccine action plan (GVAP) and global Immunization vision and strategy (GIVS). They aim to strengthen routine immunization, control morbidity and mortality from vaccine preventable diseases and help countries to immunize more people with a greater range of vaccines. The Organization accomplishes this work through its biological programme, the WHO Collaborating Centers, and the WHO Expert Committee on Biological Standardization (ECBS). In 2019, according to the WHO, approximately 85% of infants globally (116 million infants) received 3 doses of diphtheria-tetanus-pertussis (DTP3) vaccine, protecting them against infectious diseases that can cause serious illness and disability or be fatal. Furthermore, 125 countries reached at least 90% coverage of the DTP3 vaccine in 2019. The vaccines market growth is limited due to severe shortage of skilled healthcare professionals for developing biologics drugs which requires specialized skillsets. These skillsets are limited to some research organizations and medical equipment companies in the USA and Europe, this is expected to be a major restraint on the market. As of 2018, 40% of the biopharma industry was facing difficulties in hiring for process development staff due to shortage of talent. This shortage also led to rise in competition and salaries for the limited talent pool available for biologics talent, thereby further limiting growth of the market. The vaccines market has been witnessing multiple strategic initiatives and mergers and acquisitions in the recent years. Top companies in the market are strategically acquiring start-ups and mid-sized companies to broaden products and services. For instance, in February 2019, Bharat Biotech acquired Chiron Behring Vaccines, a clinical biotechnology company, one of the leading manufacturers of rabies vaccines across the globe. Similarly, in October 2018, Emergent BioSolutions, a multinational specialty biopharmaceutical company, acquired PaxVax for $270 million, and Sanofi acquired Protein Sciences for $650 million. Companies in the industry are increasingly realigning their portfolios and pursuing profitable inorganic growth opportunities. Additionally, M&A interest is also being fueled by stronger corporate balance sheets, liquid debt markets, and continued favourable interest rates globally. The Food and Drug Administration (FDA) is the National Regulatory Authority (NRA) in the United States responsible for assuring quality, safety, and effectiveness of all vaccines for human use. Center for Biologics Evaluation and Research (CBER) within the US FDA is responsible for regulating vaccines market. Governments across the world are encouraging the research and development of biologics in order to develop more targeted therapies and vaccines for various diseases. In May 2014, the US’s FDA announced a fast-track initiative to review its drugs and biologics policy to speed the availability of therapies to patients with serious conditions, orphan drugs for rare disease, while preserving the safety and efficacy standards. In 2016, FDA also removed a rule (Section 610.21 of the FDA code) which specified minimal potency limits for certain antibodies and antigens.. In addition, FDA is also updating regulations (Section 610.53 of FDA code) regarding storage periods and storage conditions for biologics. In October 2018, Emergent BioSolutions, a multinational specialty biopharmaceutical company, acquired PaxVax for $270 million. This acquisition would strengthen and expand Emergent BioSolution's product portfolio with PaxVax's typhoid vaccine Vivotif, cholera vaccine Vaxchora and additional clinical-stage vaccine used in the prevention of typhoid fever, cholera, chikungunya and other emerging infectious diseases. PaxVax is a company focused on developing, manufacturing, and commercializing specialty vaccines that protect against existing and emerging infectious diseases. PaxVax was founded in 2006 and is headquartered in Cayman Islands, a British Overseas Territory. Major players in the vaccines market are AstraZeneca, Emergent Biosolutions, GlaxoSmithKline, Merck, and Pfizer Inc. The regions covered in the vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global vaccines market is segmented - 1) By Type: Anti-Infective Vaccines, Autoimmunity, Others (Cancer And Others) 2) By Technology: Conjugate Vaccines, Inactivated and Subunit Vaccines, Live Attenuated Vaccines, Recombinant Vaccines, Toxoid Vaccines 3) By Route of Administration: Intramuscular (IM), Subcutaneous (SC), Oral, Others 4) By Valance: Monovalent, Multivalent 5) By Distribution Channel: Institutional Sale, Hospital Pharmacies, Retail Pharmacies

The drugs for immunotherapy market consist of sales of immunotherapy drugs. Immunotherapy drugs help the immune system to fight cancer by stimulating the immune system of the body and generate an immune response aiding the production of antibodies. The drugs for immunotherapy market covered in this report is segmented by type into monoclonal antibodies, interferons, interleukins, vaccines, checkpoint inhibitors, others. The drugs for immunotherapy market is also segmented by therapy area into cancer, autoimmune & inflammatory diseases, infectious diseases, others and by end user into hospitals & clinics, ambulatory surgical centers, others. The global drugs for immunotherapy market is expected to grow from $149.31 billion in 2020 to $160.43 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The drugs for immunotherapy market is expected to reach $248.27 billion in 2025 at a CAGR of 11.5%. The immunotherapy drugs market is being driven by rising incidences of cancer globally. The major causes for most cancers include obesity, smoking, alcohol, improper eating habits. According to the American Cancer Society, in 2019, around 606,880 deaths were caused in USA due to prevalence of the cancer. The Cancer Research UK predicts that there will be 27.5 million new cases of cancer each year by 2040. The rising incidences of cancer are expected to increase the demand for immunotherapy drugs driving market growth. The high cost of immunotherapy drugs is acting as a restraint on the drugs for immunotherapy market as a smaller number of patients can afford the treatment. Immunotherapy drugs are expensive as drugs are made specifically for each patient and investment costs in the research and development are high. For instance, Novartis’ Kymriah and Gilead Sciences’ Yescarta are two immunotherapy treatments that cost between $373,000 and $475,000 per patient depending on the type of cancer. The Yervoy (ipilimumab) drug from Bristol-Myers Squibb, for the treatment of melanoma, a type of skin cancer costs $120,000 per course of treatment. The high cost of immunotherapy drugs makes it unaffordable, thereby affecting market growth. Manufacturers of immunotherapy drugs are increasingly collaborating or partnering with other companies to share technology, resources, product knowledge and expand business. For example, Illumina Inc. and Bristol-Myers Squibb (BMS) collaborated to utilize Illumina’s next-generation sequencing (NGS) technology to develop and commercialize in-vitro diagnostic (IVD) assays in support of Bristol-Myers Squibb's oncology portfolio. Allogene Therapeutics Inc. and Pfizer Inc. entered into an asset contribution agreement to use Pfizer’s portfolio of assets related to allogeneic CAR-T therapy. Manufacturers of immunotherapy drugs are governed by various regulatory bodies such as the Food and Drug Administration in the USA. The Food and Drug Administration (FDA) regulates drugs and biologics under the authority granted to it by the Federal Food, Drug, and Cosmetic Act (FD&C Act) and its amendments. Under this authority, FDA regulates the pre-market testing and marketing approval for all immunotherapeutic agents, either as drugs or biologics depending on the source and function of the investigational agent. Immunotherapeutic products that are regulated as biologics include antibodies and proteins and some nucleic acids. In August 2020, Bristol Myers Squibb, an American pharmaceutical company that manufactures prescription pharmaceuticals and biologics in several therapeutic areas, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders acquired Dragonfly Therapeutics’ investigational immunotherapy program for $475 million. Through this acquisition Bristol Myers Squibb will be granted Dragonfly’s extended half-life cytokine DF6002, a monovalent IL-12 immunoglobulin Fc. Dragonfly Therapeutics, Inc., a USA based discovery-stage company developing drugs to stimulate immune responses against cancer. Major players in the drugs for immunotherapy market are F. Hoffmann-La Roche Ltd, Novartis AG, Amgen, Inc., AbbVie, Inc., and Merck & Co. Inc. The regions covered in the drugs for immunotherapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the drugs for immunotherapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global drugs for immunotherapy market is segmented - 1) By Type: Monoclonal Antibodies, Interferons, Interleukins, Vaccines, Checkpoint Inhibitors, Others 2) By Therapy Area: Cancer, Autoimmune & Inflammatory Diseases, Infectious Diseases, Others 3) By End User: Hospitals & Clinics, Ambulatory Surgical Centers, Others