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Patented Drugs Market Expected to Reach $1,456.5 Billion by 2032

10-31-2023 02:49 AM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Patented Drugs Market

Patented Drugs Market

Patented drugs market size was valued at $814.5 billion in 2022, and is estimated to reach $1456.5 billion by 2032, growing at a CAGR of 6% from 2023 to 2032. A patent is a form of legal protection granted by a government authority to inventors for their novel inventions. Various government authorities such as U.S. Patent and Trademark Office (USPTO), European Patent Office (EPO), or China National Intellectual Property Administration (CNIPA) grant legal protection and exclusivity to innovative medicines developed by pharmaceutical companies is called as patented drugs.

๐‹๐ข๐ฌ๐ญ ๐จ๐Ÿ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ :
F. Hoffmann-La Roche AG, AbbVie Inc., Novartis AG, Bayer AG, Amgen Inc., Johnson & Johnson, Biogen, Pfizer Inc., AstraZeneca plc, Astellas Pharma Inc.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ https://www.alliedmarketresearch.com/request-sample/111477

On the basis of dosage form, the liquid segment dominated the market in 2022, and is the fastest growing segment during the forecast period. This is attributed to easy availability and accessibility of liquid patented drugs and increase in product approvals for liquid drug products.

On the basis of indication, the cancer segment held the highest patented drugs market share in 2022. This is attributed to increase in prevalence of cancer and development of novel cancer treatment during the forecast period. However, the others segment is expected to register fastest growth in the patented drugs market forecast period, owing to increase in R&D activities to develop new treatments for rare diseases and Parkinson's disease.

On the basis of distribution channel, the drug stores and retail pharmacies segment dominated the global market in 2022 and is the fastest growing segment during the forecast period, owing to easy availability of patented drugs through drugs stores and increase in sale of patented drugs.

Region wise, North America held the highest patented drugs market share in 2022, and is expected to maintain its lead during the forecast period owing to increase in prevalence of chronic diseases, rise in adoption of patented drugs, easy accessibility of medications, and strong presence of market players. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period, owing to rise in patent application filing by Japan and China, increase in prevalence of diabetes, and development of pharmaceutical industry.

๐…๐จ๐ซ ๐๐ฎ๐ซ๐œ๐ก๐š๐ฌ๐ž ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ฒ https://www.alliedmarketresearch.com/purchase-enquiry/111477

The patented drugs market analysis is segmented on the basis of dosage form, indication, distribution channel, and region. On the basis of dosage form, the market is classified into solid drug product, liquid drug product, and others. On the basis of indication, the market is categorized into cardiovascular diseases, cancer, autoimmune diseases, and others. On the basis of distribution channel, the market is segmented into hospital pharmacies, drug stores and retail pharmacies, and online pharmacies.

๐•๐€๐‹๐”๐„ ๐๐‘๐Ž๐๐Ž๐’๐ˆ๐“๐ˆ๐Ž๐๐’ ๐‘๐„๐‹๐€๐“๐„๐ƒ ๐“๐Ž ๐“๐‡๐„ ๐‘๐„๐๐Ž๐‘๐“:

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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