At 5.70% CAGR, Global Pharmaceutical Market Size to Hit US$ 2067.36 Million by 2028: Technological Advances are helping the pharmaceutical market grow | Industry Trends, Value, Demand, Analysis & Forecast Report by Facts & Factors

[240+ Pages Report] According to a market research study published by Facts and Factors, the demand analysis of Global Pharmaceutical Market size & share revenue is estimated to grow over USD 2,067.36 million by 2028, at a CAGR of approximately 5.70% between 2022 and 2028. The key market players are listed in the report with their sales, revenues and strategies are AbbVie Inc., AurobindoPharma, BoehringerIngelheim International GmbH, Eli Lilly and Company, Lupin Pharmaceuticals Inc., Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., Albemarle Corporation, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Novartis AG, Merck & Co. Inc., Bristol-Myers Squibb Company, Pfizer Inc., Sanofi, AstraZeneca, Baxter, and Others.

NEW YORK, Aug. 17, 2022 (GLOBE NEWSWIRE) -- According to Facts and Factors has published a new research report titled “Pharmaceutical Market Size, Share, Growth Analysis Report By API Type (Synthetic API, Biotech API, Monoclonal Antibodies, Cytokines, Vaccines, Blood Factors, Hormones & Growth Factors, Fusion Proteins, and Therapeutic Enzymes), By Drug (Prescription Drugs and OTC Drugs), By Customer Base (Generic Drugs and Branded Drugs), Application (Oncology, Ophthalmology, Cardiovascular Disease, Gastrointestinal Disorders, Diabetes, Endocrinology, Central Nervous System & Neurological Disorders, Nephrology, and Others), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Pharmaceutical Market size & share in terms of revenue was worth of USD 1,482.4 million in 2021 and it is expected to surpass at around USD 2,067.36 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 5.70% during the forecast period 2022 to 2028.”

What is Pharmaceutical? How big is the Pharmaceutical Industry?

Market Overview:

The pharmaceuticals market is made up of businesses (organizations, sole proprietorships, and partnerships) that develop drugs used to treat illnesses and sell those drugs as well as associated services. Pharmaceuticals can refer to any kind of medication used to treat illnesses or for medical purposes. Businesses that manufacture pharmaceuticals and biologics are a part of this sector. Pharmaceutical medications and biologics are the two market segments for pharmaceuticals. Drugs are available from pharmaceutical companies for individualized, personalized therapy of many disorders.

Precision medicine, another name for personalized medicine, strives to deliver medical care in accordance with the patient's unique traits and genetic makeup. Precision therapies are being used more frequently as businesses abandon the one-size-fits-all approach to treating common medical ailments.

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Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 240+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Facts and Factors research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Report Scope

Report AttributeDetails
Market Size in 2021USD 1,482.4 Million
Projected Market Size in 2028USD 2,067.36 Million
CAGR Growth Rate5.70% CAGR
Base Year2021
Forecast Years2022-2028
Key Market PlayersAbbVie Inc., Aurobindo Pharma, Boehringer Ingelheim International GmbH, Eli Lilly and Company, Lupin Pharmaceuticals Inc., Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., Albemarle Corporation, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Novartis AG, Merck & Co. Inc., Bristol-Myers Squibb Company, Pfizer Inc., Sanofi, AstraZeneca, Baxter, and Others
Key SegmentBy API Type, Drug, Customer Base, Application, and Region
Major Regions CoveredNorth America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
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Market Dynamics

Over the projection period, an increase in chronic diseases, including diabetes and cancer, is anticipated to fuel the expansion of the pharmaceutical sector. Additionally, a rise in the number of elderly people who are susceptible to serious diseases will spur market expansion throughout the course of the projection period. The market scope will grow during the anticipated time frame as a result of the significant funding allocated for research activities.

Reduced demand for prescription medicine, growing competition from generic pharmaceuticals, pharmaceutical fraud, etc., are some of the restraints in the pharmaceutical sector. Low returns on investment in the pharmaceuticals sector as a result of price controls, cost-containing programs, and mandated cost savings will further impede corporate growth over the projection period.

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Pharmaceutical Market: COVID-19 Impact Analysis

Because of the disruption caused by COVID, the market around the world has been significantly affected, which has caused many challenges in the supply chain of many essential goods. The growth of the healthcare industry, on the other hand, has been of significant benefit to the pharmaceutical industry. The pharmaceutical industry is now dealing with the repercussions of the COVID-19 epidemic and adjusting to new conditions, so this remark is true for the industry as a whole. With challenges comes opportunity, and this adage is accurate for the pharmaceutical sector. In many companies, the increased investment in high-tech and research and development has led to an increase in the effectiveness of teams.

The manufacturing process is one area that life science companies all across the world are working to enhance with the use of cloud computing, machine learning, artificial intelligence, and other digital initiatives. Benefits include determining which medications are the most effective for treating a patient's condition; conducting drug design trials on a limited budget; determining when to begin and end medical treatment; efficiently collecting data pertaining to the patient's health; and many other advantages.

Segmentation AnalysisAnalysis

The pharmaceutical market is segregated based on API type analysis, drug type analysis, customer base type analysis, and application analysis.

Based on API type analysis, the market is divided into synthetic API, biotech API, monoclonal antibodies, cytokines, vaccines, blood factors, hormones & growth factors, fusion proteins, and therapeutic enzymes. In 2021, synthetic API had a significant share. Based on drug type analysis, the market is divided into prescription drugs and OTC drugs. In 2021, prescription drugs dominated the global market. Based on customer base type analysis, the market is divided into generic drugs and branded drugs. In 2021, branded drugs had a major share.

Based on application analysis, the market is divided into oncology, ophthalmology, cardiovascular disease, gastrointestinal disorders, diabetes, endocrinology, central nervous system & neurological disorders, nephrology, and others. In 2021, the oncology category had a major share in the global market.

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Competitive Landscape

Some of the main competitors dominating the global Pharmaceutical market include - 

  • AbbVie Inc.
  • AurobindoPharma
  • BoehringerIngelheim International GmbH
  • Eli Lilly and Company
  • Lupin Pharmaceuticals Inc.
  • Abbott Laboratories
  • Bayer AG
  • F. Hoffmann-La Roche Ltd.
  • Albemarle Corporation
  • GlaxoSmithKline plc
  • Teva Pharmaceutical Industries Ltd.
  • Novartis AG
  • Merck & Co. Inc.
  • Bristol-Myers Squibb Company
  • Pfizer Inc.
  • Sanofi
  • AstraZeneca
  • Baxter

Key Insights from Primary Research:

  • As per the analysis shared by our research analyst, the Pharmaceutical market is estimated to grow annually at a CAGR of around 5.70% over the forecast period (2022-2028).
  • In Terms Of Revenue, The Pharmaceutical market size was valued at around USD 1,482.4 million in 2021 and is projected to reach USD 2,067.36 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • By Drug Type Analysis, Drugs dominated the market in 2021
  • By Application analysis, medications for metabolic diseases dominated the sector in 2021
  • In 2021, North America led the market. This is due to many strategic pharmaceutical alliances, particularly among the region's well-established and early-stage businesses.

Have Any Query? Ask Our Experts:

Key questions answered in this report:

  • What is the market size and growth rate forecast for Pharmaceutical industry?
  • What are the main driving factors propelling the Pharmaceutical Market forward?
  • What are the leading companies in the Pharmaceutical Industry?
  • What segments does the Pharmaceutical Market cover?
  • How can I receive a free copy of the Pharmaceutical Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2022−2028
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis by API Type, Drug, Customer Base, Application, and Region
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Regional Dominance:

With the largest market share, North America dominated in the year 2021. This is due to a significant number of strategic pharmaceutical alliances, particularly among the region's well-established and early-stage businesses. Additionally, the United States held the top spot in the world for expenditure on prescription drugs per person. Additionally, the majority of clinical trials and drug efficacy studies conducted worldwide were in the United States.

Due to its sizable consumer base, rising healthcare costs, increasing disease incidence, and the existence of supportive regulatory frameworks, Asia Pacific is anticipated to see the highest growth of any regional market throughout the forecast period. Big data and Artificial Intelligence (AI) application in Asian nations has been encouraged by a number of national-level regulations.

Recent Developments

  • As businesses abandon the one-size-fits-all paradigm for treating common medical ailments, more people are adopting precision medicines. Major corporations are investing in the creation of tailored medications, including GSK, Teva Pharmaceuticals, and AstraZeneca.

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The global pharmaceutical market is segmented as follows:                                 

By API Type Analysis

  • Synthetic API
  • Biotech API
  • Monoclonal Antibodies
  • Cytokines
  • Vaccines
  • Blood Factors
  • Hormones & Growth Factors
  • Fusion Proteins
  • Therapeutic Enzymes

By Drug Type Analysis

  • Prescription Drugs
  • OTC Drugs

By Customer Base Type Analysis

  • Generic Drugs
  • Branded Drugs

By Application Analysis

  • Oncology
  • Ophthalmology
  • Cardiovascular Disease
  • Gastrointestinal Disorders
  • Diabetes
  • Endocrinology
  • Central Nervous System & Neurological Disorders
  • Nephrology
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

To know an additional revised 2022 list of market players, request a sample report:

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