Press release
Pharmaceutical Drugs Market Global Report: Anticipated To Grow At A CAGR Of 7% During The Forecast 2020 To 2023 | Covid - 19 Implications
The global pharmaceutical drugs market is expected to grow from $947.9 billion in 2019 to $970.4 billion in 2020 at a compound annual growth rate (CAGR) of 2.4%. The growth is mainly due to the COVID-19 outbreak and spiked demand for drugs such as anti-infectives (antivirals and antibiotics in particular), respiratory drugs, and anti-diabetic drugs, among others. However, the growth is not significant as COVID-19 pandemic has affected industries across the globe including the pharmaceutical sector. The restrictions on non-essential medical services, drug shortages due to slowed production of drugs because of extended factory closures in various countries, shortage of APIs and other chemicals, and rise in prices of key ingredients have been the roadblocks obstructing its growth. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $1273.7 billion in 2023.
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The pharmaceutical drug market consists of sales of goods and related services by entities (organizations, sole traders 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, genito-urinary drugs, hematology drugs and other drugs used to treat cardiovascular diseases, rare genetic disorders, infections, metabolic disorders, cancers, respiratory diseases and others.
There has been an increasing push towards the development of personalized medicine. Personalized medicine is also referred to as precision medicine, the idea of which is to provide medical care according to patient's individual characteristics, needs, preferences and genetic makeup. According to a survey by the Tufts Center, 94% of pharmaceutical companies have invested in personal medicine research.
Pharmaceutical Drugs Market Segmentation: -
By Type
1. Cardiovascular Drugs
2. Dermatology Drugs
3. Gastrointestinal Drugs
4. Genito-Urinary Drugs
5. Hematology Drugs
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Pharmaceutical Drugs Market Characteristics
4. Pharmaceutical Drugs Market Product Analysis
5. Pharmaceutical Drugs Market Supply Chain
......
20. Pharmaceutical Drugs Market Competitive Landscape
21. Key Mergers And Acquisitions In The Pharmaceutical Drugs Market
22. Market Background: Pharmaceuticals Market
23. Recommendations
24. Appendix
The report covers the trends and market dynamics of the pharmaceutical drug market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the pharmaceutical drug market are Novartis AG; Sanofi S.A.; Pfizer Inc.; Gilead Sciences, Inc.; Johnson & Johnson
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.
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