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Pharmaceutical Drug Market Research By Size Analysis 2020 – Growth Factors, Trends, Demand Status, Share By Top Regions Till 2030
Pharmaceutical Drugs Market
The global pharmaceutical drug market was worth $934.8 billion in 2017 and has grown at a CAGR of 5.16% during 2013-2017. The market is expected to grow at a CAGR of 5.78% during 2017-2021 and is forecast to be worth $1,170.4 billion by 2021. Aging populations, income growth especially in emerging economies and the high prices of new drugs are factors leading to steadily increasing per capita drugs expenditure.
The Key drivers of the pharmaceutical drug market include:-
New Methods For Drug Discovery – Stem cells and organ on chip technologies are changing the way drug trials are being conducted. Organ on chips are micro-engineered biometric systems that simulates activities, mechanics and physiological response of organ systems. Drug trial processes such as target identification, validation, target based screening and phenotypic screening are being done through organ on chip and stem cell technologies. These technologies are considerably reducing the drug discovery costs and generating reliable predictions on drug efficiency and human safety. Therefore, low drug discovery costs and accurate results generated from these technologies is expected to drive the pharmaceutical drugs market.
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Pharmaceutical Drug Market Segmentation:-
By Specialty - The pharmaceutical drug market is segmented by specialty into
a) Musculoskeletal Disorders Drugs
b) Cardiovascular Drugs
c) Oncology Drugs
d) Anti-infective Drugs
e) Metabolic Disorders Drugs
f) Central Nervous System Drugs
Metabolic Disorders Drugs had the highest growth rate of nearly 11.59% during the historic period. The fastest growth in the historic period can be attributed to the growing diabetic population worldwide, and increasing academia-industry collaborations to develop new drugs for treatment of metabolic disorders.
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By Geography - The pharmaceutical drug market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa
Some of the major key players involved in the pharmaceutical drug market are
1.Novartis AG
2.Sanofi S.A.
3.Pfizer Inc.
4.Gilead Sciences, Inc.
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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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