Press release
Prescription Drug Market to reach USD 1892 Bn by 2029, emerging at a CAGR of 9 percent and forecast (2022-2029)
Prescription Drug Market
The report offers an extensive analysis of the Prescription Drug Market, covering various key aspects such as:
• Market values and growth projections: The market was valued at US$950 billion in 2021, and the report forecasts a CAGR of 9% during the forecast period.
• Research methodology: The report employs a robust research methodology, incorporating real numbers, outputs of key players, and major industry trends over the past five years. The impact of regional lockdowns is also considered.
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What are Prescription Drug Market Dynamics?
The report highlights several drivers propelling the growth of the Prescription Drug Market, including:
1. Increasing Investment in R&D: Major pharmaceutical companies are allocating significant resources to research and development (R&D) activities to create innovative drugs. This trend is driven by the rising incidence of chronic diseases and the demand for improved clinical outcomes.
2. Increasing demand for Generic Drugs: The market is witnessing a surge in the demand for generic drugs, primarily due to their effectiveness and cost advantages over brand-name counterparts. Patients are increasingly opting for generic substitutes to manage their conditions at a more affordable price.
3. Rising Prevalence of Cardiovascular and Chronic Diseases: The global burden of cardiovascular diseases, including heart disease and hypertension, is driving the market growth. Additionally, the increasing prevalence of chronic diseases such as cancer, diabetes, and obesity is fueling the demand for prescription drugs.
The report also identifies certain restraints that may hinder the growth of the Prescription Drug Market, including:
1. High Cost Associated with Some Prescription Drugs: The high costs associated with specific prescription drugs pose a challenge for patients, limiting their access to essential treatments. Rising prescription drug prices can impede the market's growth during the forecast period.
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What is Prescription Drug Market Segmentation?
By Type
• Generics
• Orphan
• Other Prescription Drugs
By Therapy
• Oncology
• Anti-diabetics
• Vaccines
• Sensory Organs
• Others
By Distribution Channels
• Hospital Pharmacies
• Retail Pharmacies & Drug Stores
• Online Pharmacies
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Who are Prescription Drug Market Key Players?
• F. Hoffmann-La Roche Ltd.
• Mylan N.V.
• Teva Pharmaceutical Industries Ltd.
• Sanofi
• Pfizer Inc.
• GlaxoSmithKline plc
• Novartis AG
• Merck & Co., Inc.
• Allergan
• AstraZeneca
• Johnson & Johnson Private Limited
• Hikma Pharmaceuticals PLC
• Bristol-Myers Squibb Company
• Bayer AG
• Boehringer Ingelheim International GmbH.
• Dr. 'Reddy's Laboratories Ltd.
• Gilead Sciences, Inc.
• Amgen Inc.
• Eli Lilly and Company
• AbbVie Inc.
• Lupin
• Allergan
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Table of content for the Prescription Drug Market includes:
1. Global Prescription Drug Market: Research Methodology
2. Global Prescription Drug Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Prescription Drug Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Prescription Drug Market Segmentation
• Global Market, by Type (2021-2029)
• Global Market, by Therapy (2021-2029)
• Global Market, by Distribution Channels (2021-2029)
5. Regional Prescription Drug Market (2021-2029)
• Regional Market, by Type (2021-2029)
• Regional Market, by Therapy (2021-2029)
• Regional Market, by Distribution Channels (2021-2029)
• Regional Market, by Country (2021-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
To Gain More Insights into the Market Analysis, Browse Summary of the Research Report @ https://www.maximizemarketresearch.com/market-report/global-prescription-drugs-market/92903/
Regional Insights:
The North America region dominates the Prescription Drug Market, accounting for 40% of the market share in 2021. It is expected to continue its growth trajectory with a CAGR of 8.4% through the forecast period. Factors driving this regional dominance include the increasing need for disease-specific treatments, rising healthcare costs, and the presence of major industry players.
The comprehensive report offers a deep understanding of market dynamics, segmentation, and regional trends, providing stakeholders with valuable insights to make informed decisions. It includes detailed analyses of key players, market leaders, followers, and new entrants, along with a thorough examination of competitive factors, growth strategies, and regional presence.
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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