What Has Driven the Growth of the Mid-Size Pharmaceuticals Market in Recent Years?
The mid-size pharmaceuticals market has seen considerable growth due to a variety of factors.
•The market size of mid-sized pharmaceuticals has seen significant expansion in past years. The market value is projected to increase from $718.71 billion in 2024 to $768.01 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%.
The rise during the historical period can be associated with the growth of the generic drug market, patent expiries of major drugs, measures to control healthcare costs, biotechnology growth, and alterations in regulations to boost innovation.
What is the Market Size Forecast for the Mid-Size Pharmaceuticals Market?
The mid-size pharmaceuticals market is expected to maintain its strong growth trajectory in upcoming years.
• The mid-size pharmaceuticals market is anticipated to experience robust growth in the coming years, reaching $1002.26 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%.
This expected growth during the forecast period can be credited to numerous elements such as the rise in value-based care models, streamlining of regulatory pathways, improved health consciousness, and the empowerment of patients. Likewise, the demand for generic and biosimilar drugs, along with the emergence of digital therapeutics also play big roles. Major trends for this forecast period encompass an amplified emphasis on patient-centered approaches, the application of artificial intelligence (AI), strategies for global market expansion, initiatives towards environmental sustainability, and the rise of telemedicine and remote patient monitoring.
Which Factors Are Boosting Growth In The Mid-Size Pharmaceuticals Market?
The surge in chronic diseases is anticipated to boost the expansion of the mid-size pharmaceuticals market. Chronic illnesses, also referred to as non-communicable diseases, are long-lasting medical conditions that necessitate continuous management and treatment, resulting in increased demand for medicines. Mass spectrometry techniques are employed for the detection, quantification, and examination of biomarkers and metabolites linked to chronic diseases. An increase in chronic disease prevalence is expected to enhance the mid-size pharmaceuticals market's growth. The World Health Organization, a Switzerland-based specialized agency of the United Nations, reported in September 2023 that there were 41 million deaths, which accounted for 74% of the total caused by non-communicable diseases (NCDs) or chronic diseases globally each year. Hence, the rising prevalence of chronic diseases is fueling the expansion of the mid-size pharmaceuticals market.
What Key Areas Define The Segmentation Of The Global Mid-Size Pharmaceuticals Market?
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
Subsegments:
1) By In-House: Research And Development (R&D) Departments, Clinical Trials Management
2) By Outsource: Contract Research Organizations (CROs), Contract Manufacturing Organizations (CMOs)
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How Are Emerging Trends Reshaping The Dynamics Of The Mid-Size Pharmaceuticals Market?
The progression in technology is a significant trend that's gathering velocity in the mid-sized pharmaceuticals segment. Premier organizations involved in mid-size pharmaceuticals are employing technology to maintain their market standing. For example, in May 2023, Google Cloud, presented by Google, a U.S.-based range of cloud computing services, introduced AI-empowered tools designed to speed up the quest for new drugs and precision medicine. A critical tool in their arsenal, the Target and Lead Identification Suite, provides assistance to firms in predicting and understanding protein structure, a fundamental aspect in drug research. An additional tool is the Multiomics Suite, aimed to aid researchers in ingesting, managing, analyzing, and disseminating large quantities of genetic data.
Who Are the Key Players in the Mid-Size Pharmaceuticals Market?
Major companies operating in the mid-size pharmaceuticals market include:
• Baxter International Inc.
• Teva Pharmaceutical Industries Ltd.
• Otsuka Pharmaceutical Co Ltd.
• 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.
What Is The Most Dominant Region In The Mid-Size Pharmaceuticals Market?
North America was the largest region in the mid-size pharmaceutical market in 2024. 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.
