The Business Research Company Global Pharmaceutical Drugs Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, UK, Feb. 10, 2022 /EINPresswire.com/ — Rising sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world’s population, in particularly non-communicable diseases such as cancer, diabetes and cardiovascular diseases. 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 number of patients globally, thereby driving the growth of the pharmaceutical drug market over the forecast period.
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 the Pharmaceutical Drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and South America. ‘Africa.
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The global pharmaceutical drug market size is expected to grow from $1.08 trillion in 2021 to $1.14 trillion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The growth of the pharmaceutical drugs market is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had earlier led to restrictive lockdown measures involving social distancing, working at distance and the closure of commercial activities which led to operational stoppages. challenges. The global pharmaceutical drug market share is expected to reach $1.63 trillion in 2026 with a CAGR of 9.5%.
The early shift from Rx to OTC, or the shift of the product from prescription to non-prescription status, is a key trend in the dermatology drug market. Traditionally, the conversion from Rx status to OTC 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 capitalize on market opportunities for the product. Pharmaceutical drug marketing strategies include the early switch from Rx to OTC which also provides an added advantage as a way to recoup all the expenses incurred on the product by the company. For example, in 2020 the FDA replaced three prescription medications with over-the-counter medications, 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.
Key players covered in the global pharmaceutical drugs market are Bristol-Myers Squibb, Sanofi SA, Johnson & Johnson, Novartis AG, Bayer AG, Abbott Laboratories, GlaxoSmithKline, AstraZeneca, Merck & Co, and CJ Corp.
The global TBRC Pharmaceutical Drugs market report is segmented by Type into Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genitourinary Drugs, Hematology Drugs, Anti-Infectious Drugs, Metabolic Disorders Drugs, Disorders Drugs musculoskeletal, central nervous system drugs, oncology drugs, ophthalmology drugs, respiratory drugs, by distribution channel in hospital pharmacies, retail pharmacies/pharmacies, other, by administration in oral drugs , parenterals, other, by drug classification in brand name drugs, generic drugs, by mode of purchase in prescription drugs, over-the-counter drugs.
Global Pharmaceutical Drugs Market Report 2022 – By Type (Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genitourinary Drugs, Hematology Drugs, Anti-Infectious Drugs, Metabolic Disorder Drugs, Musculoskeletal Disorder Drugs , central nervous system drugs, oncology drugs, ophthalmic drugs) , drugs for respiratory diseases), by distribution channel (hospital pharmacies, retail pharmacies/pharmacies), by route of administration (oral, parenteral), by classification Drugs (Branded Drugs, Generic Drugs), By Purchase Mode (Prescription Drugs, Over-the-Counter Drugs) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provides insight into the pharma drug market Ceutics, Forecasts Pharmaceutical Drugs Market Size and Growth for Overall Market, Pharmaceutical Drugs Market Segments, Geographies, Pharmaceutical Drugs Market Trends, Pharmaceutical Drugs Market Drivers, Restraints, Key Competitors Revenue, Profiles and market shares.
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