The pharmaceutical industry develops drugs to diagnose, cure, treat or prevent diseases. Pharmaceutical companies produce both generic and branded drugs. Pharmaceutical drugs are subjected to various laws and regulations that deal with patenting, testing, safety, efficacy and marketing.
The top five companies covered are Novartis AG, Sanofi S.A., F. Hoffmann-La Roche Ltd, Pfizer Inc., and Gilead Sciences, Inc. Novartis AG was the largest company in the pharmaceutical drugs market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
The global pharmaceutical drugs market was valued around $935 billion in 2017. North America was the largest region in the pharmaceutical drugs market in 2017, accounting for around 37% of the total market. The USA was the largest country in the market accounting for around 25% of the total 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.
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