Global Pharmaceuticals Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
29 Apr, 2021
The pharmaceuticals market consists of sales of pharmaceuticals and related services by entities (organizations, sole traders and partnerships) that produce pharmaceuticals used in treating diseases. Pharmaceuticals can be any type of drugs that are used for medicinal purposes, in the treatment of diseases. This industry includes establishments that produce biologics and pharmaceutical drugs.
Global Pharmaceuticals Market Size And Drivers:
The global pharmaceuticals market is expected to grow from $1.22 trillion in 2020 to $1.25 trillion in 2021 at a compound annual growth rate (CAGR) of 1.8%. The market is expected to reach $1.70 trillion in 2025 at a CAGR of 8%.
The increase in the patient pool drove the demand for pharmaceuticals used in the treatment of these diseases, significantly impacting market growth during this period.
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Trends In The Global Pharmaceuticals Market
Pharmaceutical companies are offering drugs for customized individual treatment for various diseases. Personalized medicine, also referred to as precision medicine, aims to provide medical care according to the patient’s individual characteristics and genetic makeup. Precision therapies are increasingly being adopted as firms increasingly let go of the one-size-fits-all model for common medical conditions. Major companies such as GSK, Teva Pharmaceuticals and AstraZeneca are investing in development of personalized medicines.
Global Pharmaceuticals Market Segments:
The global pharmaceuticals market is further segmented based on type, distribution channel, nature and geography.
By Type: Pharmaceutical Drugs, Biologics.
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.
By Nature: Organic, Conventional.
By Geography: The global pharmaceuticals 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 pharmaceuticals market, accounting for 46% of the market.
Read More On The Report For The Global Pharmaceuticals Market At:https://www.thebusinessresearchcompany.com/report/pharmaceuticals-global-market-report
Pharmaceuticals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides pharmaceuticals market overviews, analyzes and forecasts market size and growth for the global pharmaceuticals market, pharmaceuticals market share, pharmaceuticals market players, pharmaceuticals market segments and geographies, pharmaceuticals market’s leading competitors’ revenues, profiles and market shares. The pharmaceuticals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.