Press release
Pharmaceutical Drugs Market Report 2024: Growth, Trends, Analysis, Forecast 2033
As per the report, the pharmaceutical drugs market size has grown strongly in recent years. It will grow from $1199.86 billion in 2023 to $1267.05 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The pharmaceutical drugs market size is expected to see rapid growth in the next few years. It will grow to $2092.95 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%.
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New Non-Communicable Diseases And Changing Lifestyles On The Pharmaceutical Drug Market
The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, Noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 74% of all deaths globally. Thereby increasing the need for biologics drugs for diabetic patients. These factors are expected to increase the patient pool globally, thereby driving the pharmaceutical drug market during the forecast period.
Innovative Pharmaceutical Drug Sohonos Offers Hope For Rare Disorder Fop
Major companies operating in the pharmaceutical drug market are introducing innovative drugs such as Sohonos (palovarotene) capsules to gain a competitive edge in the market. Sohonos is a retinoid indicated for the reduction in volume of new heterotopic ossification in patients with fibrodysplasia ossificans progressiva (FOP). For instance, in August 2023, Ipsen Biopharmaceuticals, Inc., a France-based biopharmaceutical company, developed Sohonos (palovarotene), a retinoid indicated for the reduction in volume of new heterotopic ossification in adults and pediatric patients aged 8 years and older for females and 10 years and older for males with fibrodysplasia ossificans progressiva (FOP). FOP is a rare genetic disorder of the connective tissue characterized by heterotopic ossification, which is the abnormal development of bone in areas of the body where bone is not normally present, such as the ligaments, tendons, and skeletal muscles. The disease progresses to cause limited movement, deformities, and severe disability.
The pharmaceutical drugs market covered in this report is segmented -
1)By Type: Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Musculoskeletal Disorder Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Disease Drugs, Vaccine And Therapeutic Nutrients, Minerals
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Other Distribution Channels
3) By Drug Classification: Branded Drugs, Generic Drugs
4) By Mode Of Purchase: Over-The-Counter (OTC) Drugs, Prescription-Based Drugs
Sub segments: Anti-Hypertensive Drugs, Hypolipidemic, Anti-Thrombotic, Angina Pectoris, Congestive Heart Failure, Other Drugs For Cardiovascular Diseases (Anti-Arrhythmic And Anti-Anginal Drugs), Acne, Dermatitis, Psoriasis, Other Drugs For Dermatology Diseases, Antacids, Antiulcerants, Antiemetics And Antinauseants, Antidiarrheals, Hormonal Contraceptives, Drugs For Benign Prostatic Hyperplasia, Drugs For Infertility, Drugs For Erectile Dysfunction, Drugs For Urinary Incontinence, Overactive Bladder, Drugs For Infections And Others, Drugs For Hormonal Replacement Therapy, Diuretics, Blood Products And Anemia, Other Blood Disorder Drugs, Antibiotics, Antivirals, Antifungals, Others (Anthelminthic, Antiprotozoal), Anti-Diabetic Drugs, Anti-Thyroid Drugs, Anti-Obesity, Others, Drugs For Rheumatoid Arthritis, Muscle Relaxants, Other Musculoskeletal Disorders Drugs, Analgesics, Anti-Parkinson Drugs, Anesthetics, Anti-Epileptics, Alzheimer, Other CNS Drugs, Drugs For Lung Cancer, Pancreatic Cancer, Breast Cancer, Prostate Cancer, Ovarian Cancer, Colorectal Cancer, Gastric Cancer, Kidney Cancer, Brain Tumor, Thyroid Cancer, Skin Cancer, Bladder Cancer, Cervical Cancer, Blood Cancer, Others, Antiglaucoma Drugs, Dry Eye Medication, Other Ophthalmology Drugs, Anti-Asthmatics And COPD Drugs, Cough And Cold Preparations, Therapeutic Vaccines And Preventive Vaccines, Electrolytes And Minerals, Vitamins
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Major companies operating in the pharmaceutical drugs market report are Pfizer Inc., AbbVie, Johnson & Johnson, Merck & Co, Sanofi S.A., F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb, AstraZeneca, GlaxosmithKline, Shanghai Pharmaceutical Drugs, Shanghai Fosun Pharmaceutical, Takeda Pharmaceutical Company Ltd., Otsuka Pharmaceutical Co. Ltd., Daiichi Sankyo, China National Pharmaceutical Group Co., Ltd. (Sinopharm), Shanghai Acebright Pharmaceutical Drugs Group Co., Ltd., Jiangsu Hengrui Medicine Co., Ltd, Hanmi Pharmaceutical, Cipla Limited, Aurobindo Pharma Limited, Dr. Reddy's Laboratories Ltd., Sun Pharma, KYORIN Holdings, Inc., Nichi-Iko Pharmaceutical Co., Ltd., Daewoong Pharmaceutical Co.,Ltd, Kalbe Farma, Hyphens Pharma, Adjuvanz Technology Pte Ltd., Alliance Pharm Pte Ltd., Teva UK Limited, Abbott Laboratories, Vectura Group, Boehringer Ingelheim, Mylan, Zentiva, Apotex, Gilead Sciences, Bayer, Amgen, Janssen Pharmaceutica, Accord Healthcare Inc., AA Pharma Inc, Sanfer, LABORATORIOS SENOSIAIN SA DE CV (Senosiain), Siegfried Rhein, Eli Lilly & Company, Biogen, EMS Pharma, Hypermarcas, Eurofarma, Teuto Brasileiro, Biolab Farmaceutica, Cristalia, União Quimica, Ache, Mantecorp Farmasa, Libbs, FQM Grupo, Spimaco, Jamjoom Pharma, Tabuk Pharmaceutical Manufacturing, Jazeera Pharmaceutical Industries, Julphar, Neopharma, Johnson & Johnson, Eurolab, Aspen.
Contents of the report:
1. Executive Summary
2. Pharmaceutical Drugs Market Report Structure
3. Pharmaceutical Drugs Market Trends And Strategies
4. Pharmaceutical Drugs Market - Macro Economic Scenario
5. Pharmaceutical Drugs Market Size And Growth
…..
27. Pharmaceutical Drugs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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