Global Pharmaceuticals Market Trends And Strategies Of Major Players In The Pharmaceuticals Market 2020
4 Jan, 2021
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The global pharmaceuticals market reached a value of nearly $1,217.1 billion in 2019, having increased at a compound annual growth rate (CAGR) of 6.7% since 2015. The market is expected to decline from $1,217.1 billion in 2019 to $1,209.6 billion in 2020 at a rate of -0.6%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8.5% from 2021 and reach $1,738.2 billion in 2023. The market is expected to reach $2,050.9 billion in 2025, and $3,206.3 billion in 2030. Technology is expected to be a continued driver of pharmaceuticals market growth during the forecast period.
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. This industry includes establishments that produce biologics and pharmaceutical drugs. The pharmaceutical industry develops drugs to diagnose, cure, treat or prevent diseases, infections, and injuries. Pharmaceuticals are subjected to various laws and regulations that deal with patenting, testing, safety, efficacy and marketing. Pharmaceutical drug manufacturers produce pharmaceutical drugs made from active pharmaceutical ingredients (API) and excipients.
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The global pharmaceuticals market is further segmented based on type, type of pharmaceutical drugs, type of biologics and geography.
By Type: Pharmaceutical Drugs, Biologics.
By Type Of Pharmaceutical Drugs: Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Musculoskeletal Disorder Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Diseases Drugs.
By Type Of Biologics Drugs: Monoclonal Antibodies (MAbS), Therapeutic Proteins, Vaccines.
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, the North American pharmaceuticals market accounts for the largest share of 45.9% in the global pharmaceuticals market 2019.
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Trends In The Pharmaceuticals Market
Pharmaceutical companies are increasingly using biomarkers in the drug development process to reduce the time taken to bring the product into the market. Biomarkers are biological indicators which are objectively measured and evaluated for biological processes, pathogenic processes or pharmacological responses to a therapeutic intervention. They are helpful to predict the drug efficacy faster than conventional clinical endpoints, the point at which an undesired or abnormal effect of the drug is observed indicating withdrawal from therapy. Companies in this market are investing in the development of biomarkers for use in various activities such as tracking drug activity, studying pharmacodynamics (relationship between the drug concentration at the site of action and the biochemical and physiological effect) of drugs and to study diseases and treatment pathways. Companies such as Genentech and Janssen are increasingly investing in the use of biomarkers for understanding the efficacy of a potential respiratory drug.
Pharmaceuticals Global Market Report 2020 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.