Global Pharmaceutical Drugs Market Trends And Strategies Of Major Players In The Pharmaceutical Drugs Market 2021-2030
21 Apr, 2021
The pharmaceutical drug market consists of sales of goods and related services by entities (organizations, sole traders and partnerships) that produce and sell pharmaceutical drugs used to treat various diseases. This industry includes establishments that produce drugs such as cardiovascular drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs and other drugs used to treat cardiovascular diseases, rare genetic disorders, infections, metabolic disorders, cancers, respiratory diseases and others.
Global Pharmaceutical Drugs Market Size And Drivers:
The global pharmaceutical drugs market is expected to grow from $975.04 billion in 2020 to $981.73 billion in 2021 at a compound annual growth rate (CAGR) of 0.7%. The market is expected to reach $1.28 trillion in 2025 at a CAGR of 7%.
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.
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Trends In The Global Pharmaceutical Drugs Market
Early Rx-to-OTC switch, or switching the product from prescription to non-prescription status, is a key trend in the dermatology drugs market. Traditionally, the Rx-to-OTC status conversion was generally observed at a phase nearing the patent expiry or after. However, forward-thinking companies are now looking at switching from Rx-to-OTC well in advance of the patent expiry of the drug. This helps the manufacturer to capitalize on the market opportunities for the product. Early Rx-to-OTC switching also provides an additional benefit as a way to recover all the expenses incurred on the product by the company.
Global Pharmaceutical Drugs Market Segments:
The global pharmaceutical drugs market is further segmented based on type, distribution channel, route of administration, drug classification, mode of purchase and geography.
By Type: Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorders Drugs, Musculoskeletal Disorders Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Diseases Drugs.
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Others.
By Route Of Administration: Oral, Parenteral, Others.
By Drug Classification: Branded Drugs, Generic Drugs.
By Mode Of Purchase: Prescription-Based Drugs, Over-The-Counter Drugs.
By Geography: The global pharmaceutical drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global pharmaceutical drugs market, accounting for 44% of the total market.
Read More On The Report For The Global Pharmaceutical Drugs Market At:https://www.thebusinessresearchcompany.com/report/pharmaceutical-drugs-global-market-report
Pharmaceutical Drugs Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides pharmaceutical drugs market overviews, analyzes and forecasts market size and growth for the global pharmaceutical drugs market, pharmaceutical drugs market share, pharmaceutical drugs market players, pharmaceutical drugs market segments and geographies, pharmaceutical drugs market’s leading competitors’ revenues, profiles and market shares. The pharmaceutical drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.