Press release
Prescription Drug Market to Reach USD 1892.9 Bn by 2029, emerging at a CAGR of 9 percent and forecast 2023-2029
Prescription Drug Market
The report for the Prescription Drug Market is based on 2022 as the base year, forecasting market trends from 2023 to 2029. Real numbers and outputs from key global players form the basis of the 2022 market size estimation, with a special emphasis on the exceptional year of 2022 and its analysis, considering the regional impact of lockdown measures.
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What are Prescription Drug Market Dynamics:
Increasing Investment in R&D: An important trend in the market for prescription pharmaceuticals is the rise in R&D expenditures by well-known corporations for the creation of novel Drugs. This is largely due to the rising incidence of various chronic diseases on a worldwide scale. Due to their unmet clinical demands and desire for favorable clinical outcomes, this has increased patient demand. Many of these chronic illnesses are frequently resistant, thus administering severe prescription therapy is necessary. Major pharmaceutical corporations have been compelled by this to regularly participate in clinical studies for the development and, eventually, the approval of new drugs. A growing number of significant manufacturers are turning their attention to the creation of medicines to treat uncommon illnesses. This is expected to accelerate market growth even more. This is expected to further increase the market growth of these drugs during the forecast period.
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Prescription Drug Market Regional Insights:
North America led the market with a 40% share in 2022, expected to witness significant growth at a CAGR of 8.4% through the forecast period. The region's dominance is attributed to the increasing demand for disease-specific treatments, rising healthcare costs, and the presence of key industry players.
The comprehensive report aims to provide stakeholders with a clear understanding of the Prescription Drug Market, analyzing market dynamics, competitive landscape, and future trends. It serves as an investor's guide, offering valuable insights for decision-makers in the pharmaceutical industry.
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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
Who are Prescription Drug Market Key Players:
1. F. Hoffmann-La Roche Ltd.
2. Mylan N.V.
3. Teva Pharmaceutical Industries Ltd.
4. Sanofi
5. Pfizer Inc.
6. GlaxoSmithKline plc
7. Novartis AG
8. Merck & Co., Inc.
9. Allergan
10.AstraZeneca
11.Johnson & Johnson Private Limited
12.Hikma Pharmaceuticals PLC
13.Bristol-Myers Squibb Company
14.Bayer AG
15.Boehringer Ingelheim International GmbH.
16.Dr. 'Reddy's Laboratories Ltd.
17.Gilead Sciences, Inc.
18.Amgen Inc.
19.Eli Lilly and Company
20.AbbVie Inc.
21.Lupin
22.Allergan
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Table of content for the Prescription Drug Market includes:
Global Prescription Drug Market: Research Methodology
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
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