Prescription Drugs Market to hit US$ 2067.25 Billion by 2030 | Exclusive Report by Growth Plus Reports

Pune, Oct. 18, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Prescription Drugs Market by Product Type (Branded, Orphan, Generic, Others), Therapy (Anticoagulants, Oncology, Vaccines, Immunosuppressants, Others), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) – Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the prescription drugs market is expected to grow at a CAGR of 8.4% from 2021 to reach US$ 2067.25 billion by 2030.

A range of immunizations and treatments are only available by prescription and are used to treat and manage specific ailments or illnesses such as cancer, heart disease, diabetes, and other rare diseases. Medications play a vital part in the treatment of numerous disorders. Drug administration is crucial for enhancing treatment results for nearly all patients suffering from serious disorders. Growing urbanization has resulted in an unhealthy diet, a rise in stress and anxiety, and sedentary lifestyles that cause low immunity, increasing the incidence of many ailments. As a result, the number of prescription medications for treating such conditions is rising.

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Market Drivers

The global prescription drugs market is anticipated to expand significantly throughout the forecast period. The incidence of chronic diseases such as cancer, respiratory disorders, and cardiovascular diseases is rising, which is a factor in this market expansion. In addition, the market is expanding as a result of the increased elderly population, government and private support, and the approval of more new generic drugs. Other market drivers include the development of orphan pharmaceuticals, introducing of specialty medications, and rising R&D efforts. The rapid evolution of the healthcare infrastructure and the rise in unmet clinical demands also significantly influence market growth.

The global prescription drugs market has been analyzed from four perspectives: product type, therapy, distribution channel, and region.

Excerpts from ‘By Product Type Segmentation’

The product type in the prescription drugs market has been segmented into:

• Brand
• Orphan
• Generic
• Others

Branded drugs segment accounts for the largest revenue share in the market. The high preference rate for these products among doctors and pharmacists, the high rate of recommendation for such drugs, and the significant R&D expenditures on branded drugs are all factors contributing to the segment growth. These medications offer excellent efficacy, superior clinical outcomes, great patient satisfaction, and extensive exposure to numerous therapies. Additionally, this segment includes crucial and life-saving pharmaceuticals, including cancer, diabetes, and cardiovascular drugs. These factors are hence responsible for this segment's dominance and growth. The orphan segment is anticipated to develop significantly throughout the projected time. Orphan drug R&D activities, clinical trials, and product approvals are on the rise, which accounts for this growth.

Excerpts from ‘By Region Segmentation’

The prescription drugs market has been segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World

North America holds the largest revenue share in the global prescription drugs market. The enormous patient base, high frequency of chronic diseases, sizable elderly population, and high healthcare expenditure in this area contribute to the market expansion. Additionally, a rise in private and governmental financing or investments, continuously increasing R&D activities, an increase in the approval of innovative drugs, and the construction of healthcare infrastructure all encourage market growth in this region. Europe comes in second place in terms of revenue share. The European market development is driven by the rapid uptake of advanced drugs and rising technical innovation. While the Asia Pacific is anticipated to increase significantly throughout the forecasted period as a result of the rapid uptake of novel medications, development in medical tourism, and expanding uptake of improved healthcare infrastructure.

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Excerpts from ‘Competitive Landscape’

The prominent players operating in the global prescription drugs market are

• GlaxoSmithKline Plc.
• Sanofi S.A.
• F. Hoffmann-La Roche Ltd.
• Merck & Co. Inc.
• AstraZeneca Plc.
• Pfizer Inc.
• Novartis AG
• AbbVie Inc.
• Johnson & Johnson Services Inc.
• Celgene Corporation (Bristol-Myers Squibb Company)
• Eli Lilly and Company
• Amgen Inc.
• Teva Pharmaceutical Industries Ltd.
•  and Lupin Ltd.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem 
   2. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecasted Years – 2022 to 2030
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions       
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2021)
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints
   3. Opportunities
5. GLOBAL PRESCRIPTION DRUGS MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
   1. Branded
   2. Orphan 
   3. Generic
   4. Others
6. GLOBAL PRESCRIPTION DRUGS MARKET - ANALYSIS & FORECAST, BY THERAPY
   1. Anticoagulants
   2. Oncology
   3. Vaccines
   4. Immunosuppressants
   5. Others
7. GLOBAL PRESCRIPTION DRUGS MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL
   1. Hospitals and Clinics
   2. Retail Pharmacies
   3. Online Pharmacies

TOC Continued..

VALUE PROPOSITIONS RELATED TO THE REPORT:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• 'Business Profile' of Key Players

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