Global Prescription Drug Market to Hit $1.7 Trillion by 2027 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–Prescription Drugs: Global Strategic Business Report has been added to from ResearchAndMarkets.com offer.

Global prescription drug market to reach $1.7 trillion by 2027

In the new post-COVID-19 business landscape, the global prescription drug market estimated at US$1 trillion in 2020 is expected to reach a revised size of US$1.7 trillion by 2027, growing at a CAGR of 7.2% during analysis. period 2020-2027. Generics, one of the segments analyzed in the report, is expected to register a CAGR of 7.1% and reach US$279.8 billion by the end of the analysis period. After an initial analysis of the business implications of the pandemic and the induced economic crisis, the growth of the orphan drug segment is readjusted to a revised CAGR of 8% for the next 7-year period.

The US market is estimated at $286 billion, while China is expected to grow at a CAGR of 11.4%

The prescription drug market in the United States is estimated to be worth US$286 billion in 2020. China, the world’s second largest economy, is expected to reach a projected market size of US$375.9 billion by 2027, with a CAGR of 11.4% over the analysis period from 2020 to 2027. Other notable geographies include Japan and Canada, each predicting growth of 3.5% and 6.3% respectively over the 2020 period -2027. In Europe, Germany is expected to grow around 4.3% CAGR.

The other types segment will register a CAGR of 7.1%

In the global other types segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 6.5% for this segment. These regional markets representing a combined market size of US$545.2 billion in 2020 will reach a projected size of US$844.8 billion by the end of the analysis period. China will remain among the fastest growing markets in this group of regional markets. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$235.5 billion by 2027, while Latin America will expand to a CAGR of 8.6% over the analysis period.

Select competitors (total of 23 featured) –

  • AbbVie, Inc.

  • Allergan PLC

  • Amgen, Inc.

  • AstraZeneca PLC

  • Bayer AG

  • Boehringer Ingelheim GmbH

  • Bristol-Myers Squibb Company

  • Celgene Company

  • Eli Lilly and company

  • F. Hoffmann-La Roche SA

  • Gilead Sciences, Inc.

  • GlaxoSmithKline PLC

  • Johnson & Johnson

  • Merck & Co., Inc.

  • Novartis International SA

  • Novo Nordisk A/S

  • Pfizer, Inc.

  • Sanofi

  • Shire PLC

  • Teva Pharmaceutical Industries Ltd.

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND DRIVERS

4. GLOBAL MARKET OUTLOOK

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/f6ek60

Comments are closed.