The major companies in the pharmaceutical drugs market are Bristol-Myers Squibb, Sanofi SA, Johnson & Johnson, Novartis AG, Bayer AG, Abbott Laboratories, GlaxosmithKline, AstraZenec, Merck & Co. and CJ Corp.
New York, March 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Pharmaceutical Drugs Global Market Report 2022” – https://www.reportlinker.com/p05308970/?utm_source=GNW
The global pharmaceutical drug market is expected to grow from $1,075.97 billion in 2021 to $1,136.23 billion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $1,635.128 billion in 2026 with a CAGR of 9.5%.
The pharmaceutical drugs market consists of the sale of related goods and services by entities (organizations, sole proprietorships, and partnerships) that produce and sell pharmaceutical drugs used to treat various diseases. This industry includes establishments that produce drugs such as cardiovascular drugs, gastrointestinal drugs, genitourinary drugs, hematology drugs, and other drugs used to treat cardiovascular diseases, rare genetic diseases, infections, metabolic disorders, cancers, respiratory and other diseases.
The main types of pharmaceutical drugs are cardiovascular drugs, dermatological drugs, gastrointestinal drugs, genitourinary drugs, hematological drugs, anti-infective drugs, drugs for metabolic disorders, drugs for musculoskeletal disorders -skeletal, central nervous system drugs, oncology drugs, ophthalmology drugs and respiratory diseases. medications. Cardiovascular drugs are used to treat medical conditions associated with the heart or circulatory system (blood vessels), such as arrhythmias, blood clots, coronary heart disease, high or low blood pressure, high cholesterol, heart failure and strokes.
Drugs are administered orally, parenterally and others which are classified into branded and generic drugs. The various modes of purchase include prescription drugs and over-the-counter drugs that are dispensed by hospital pharmacies, retail pharmacies/pharmacies and others.
North America was the largest region in the pharmaceutical drug market in 2021. The Middle East is expected to be the fastest growing region during the forecast period.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rising sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world’s population, particularly non-communicable diseases such as cancer, diabetes and cardiovascular disease. Long working hours, less physical activity, and poor eating and drinking habits are major causes of chronic diseases such as diabetes.
According to the World Health Organization, the prevalence of chronic diseases increased by 57% globally in 2020. China and India together had about 193.4 million diabetes patients in 2019 and India is expected to have about 101 million diabetic patients by 2030, increasing the need for biologic drugs for diabetic patients. These factors are expected to increase the pool of patients globally, thereby driving the pharmaceutical drug market over the forecast period.
Interest rates globally are expected to rise in most developing and developed economies over the forecast period, this should limit new investment in the market. Most countries in the world raise interest rates to control inflation and also to limit the flow of capital out of the country.
This is likely to affect new investments in terms of expansion, research and development of new products. For example, US interest rates have risen to 3.5% by 2021. These factors are expected to negatively impact the market as borrowing money becomes expensive thus affecting the growth of the market for pharmaceutical products.
The early switch from Rx to OTC, or the shift of the product from prescription to non-prescription, is a key trend in the dermatology drug market. Traditionally, the conversion from Rx to OTC status was usually observed at a phase close to patent expiration. or after.
However, forward-thinking companies are now planning to switch from Rx to OTC well before the drug’s patent expires. This helps the manufacturer to take advantage of market opportunities for the product.
The early move from Rx to OTC also provides an added benefit as a way to recoup any expenses incurred on the product by the company. For example, in 2020 the FDA replaced three prescription drugs with OTC drugs, including Voltaren for arthritis pain, olopatadine hydrochloride 0.1% and 0.2% (Pataday Twice Daily Relief and Pataday Once Daily Relief) for the temporary relief of itchy, red eyes caused by pollen, ragweed and grass.
The countries covered in the Pharmaceutical Drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway , Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p05308970/?utm_source=GNW
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