Press release
Shaping the Prescription Drugs Market in 2025: Expanding Access To GLP-1 Receptor Agonist Therapies For Type 2 Diabetes Management
Prescription Drugs Market
The size of the prescription drug market has seen swift expansion in the preceding few years. The market value is projected to rise from $1289.77 billion in 2024 to $1430.3 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 10.9%. The remarkable growth during the historic period can be credited to factors such as the surge in clinical trials, growing availability of over-the-counter (OTC) products, increasing demand for daily prescriptions, escalating healthcare expenses, and a heightened prevalence of various chronic diseases.
It's anticipated that the prescription drug market will experience significant expansion in the coming years, with its value projected to reach $2145.22 billion in 2029, growing at a compound annual growth rate (CAGR) of 10.7%. This growth through the predicted period is linked to several factors including an increase in the number of clinical trials, greater accessibility to over the counter (OTC) products, an elevated need for routine prescriptions, soaring healthcare expenses, and a rising incidence of various chronic diseases. Key trends expected during this forecast period encompass a growing demand for biologic drugs, advancements in genomics and data analytics, heightened awareness of mental health problems, digital health expansion, and a move towards preventative drugs.
What Are the Primary Growth Drivers for the Prescription Drugs Market?
The growth of the prescription drug market is anticipated to be driven by the rise in drug production. This refers to the systematic procedure involved in manufacturing pharmaceutical products, encompassing creation, evaluation, and packaging to ensure effectiveness, safety and quality. The escalation in drug manufacturing is vital to satisfy the expanding global need for drugs, tackle public health issues, and provide timely treatments for various health conditions. Enhanced drug production can improve the prescription drug market by making medicines more accessible, affordable, and bring in new innovative treatments. This majorly benefits patients and the healthcare system by ensuring better health outcomes through constant access to essential medications. For example, the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based organization embracing the pharmaceutical sector, reported in June 2023 that there was significant growth in the European pharmaceutical industry, escalating from $352.48 billion in 2021 to $369.95 billion in 2022. Therefore, the growth of the prescription drug market will likely be fueled by the rise in drug production.
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=20597&type=smp
Who Are the Dominant Companies Influencing Prescription Drugs Market Trends?
Major companies operating in the prescription drugs market are Pfizer Inc., Johnson & Johnson Private Limited, F. Hoffmann-La Roche Ltd., Merck & Co. Inc., AbbVie Inc., Allergan plc, Bayer AG, Novartis AG, Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca Plc, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Boehringer Ingelheim International GmbH, Gilead Sciences Inc, Amgen Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., Biogen Inc., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals PLC, Lupin Limited
Who Are the Dominant Companies Influencing Market Trends?
Key players in the prescription drug industry are exploring alternatives to Victoza (liraglutide) or similar GLP-1 receptor agonist treatments, aiming to broaden the range of choices for controlling type 2 diabetes. Victoza, a patented medication, possesses the active component liraglutide, classified as a glucagon-like peptide-1 (GLP-1) receptor agonist, and primarily serves to control type 2 diabetes in adults and children over the age of 10. For example, in June 2024, Israel-founded Teva Announces introduced an Authorized Generic of Victoza (liraglutide injection 1.8mg), a more cost-effective option that retains the same composition, efficiency, and quality as the original branded product. The introduction of this generic aims to enhance the availability of critical diabetes treatments for patients and offer budget-friendly alternatives for managing type 2 diabetes while decreasing the cardiovascular risks related to the disease.
What Are the Different Segmentations in the Prescription Drugs Market?
The prescription drugs market covered in this report is segmented -
1) By Type: Branded, Generics
2) By Route Of Administration: Oral, Topical, Parenteral, Other Routes Of Administration
3) By Therapy Area: Oncology, Immunology, Ophthalmology, Respiratory, Dermatology, Gastroenterology, Urology, Gynecology, Endocrinology, Other Therapy Areas
4) By End-Users: Hospitals, Specialty Clinics, Homecare, Other End-Users
Subsegments:
1) By Branded: Innovative Drugs, Patented Drugs, Blockbuster Drugs, Over-the-Counter (OTC) Prescription Drugs, Biosimilars, Specialty Drugs, Orphan Drugs, Combination Drugs
2) By Generics: Small Molecule Generics, Generic Biologics, Over-the-Counter (OTC) Generics, Authorized Generics, Generic Combination Drugs, High-Volume Generics, Generic Versions Of Blockbuster Drugs
Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/prescription-drugs-global-market-report
Which Region Is at the Forefront of the Prescription Drugs Market?
North America was the largest region in the prescription drugs market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the prescription drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Prescription Drugs Global Market Report?
- Market Size Analysis: Analyze the prescription drugs Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the prescription drugs market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall prescription drugs market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the prescription drugs market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=20597
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Shaping the Prescription Drugs Market in 2025: Expanding Access To GLP-1 Receptor Agonist Therapies For Type 2 Diabetes Management here
News-ID: 3873402 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Drugs
Generic Drugs Market Application Anti-Infective Drugs, Anti-Arthritis Drugs, Ant …
Generic drugs are the medications that are developed to be similar to a medicine that is already commercially available in the market with a brand name. The generic drug is similar to the medicine available in terms of dosage, safety and strength, mode of administration, quality and intended use. Due to the similarities, generic drugs are capable of treating various diseases. Generic drugs are most cost effective than the branded…
Cytotoxic Drugs Market Growing Demand for Antimetabolite Drugs
According to Precision Business Insights (PBI), the latest report, the cytotoxic drugs market is expected to be valued at USD 15,927.2 million in 2022 and is poised to grow at a significant CAGR of 2.2% over 2022-2028. The primary drivers of the expansion of the global cytotoxic drugs market include the increasing prevalence of cancer diseases, the increasing use and approval of cytotoxic drugs, and the increasing consumption of alcohol…
Global Antithrombotic Drugs Market | Global Antithrombotic Drugs Industry | Glob …
Antithrombotic drugs are special drugs that help to prevent the formation of thrombus or clot. These drugs are used to reduce the formation of blood clots by reducing the capability of body to form a blood clot. Antithrombotic drugs act by preventing the production of vitamin K in the liver. Anticoagulant, antiplatelet, and thrombolytic agents are different types of antithrombotic agents that act by different clotting processes. Arterial & venous…
Global HIV Drugs Market | Global HIV Drugs Industry | Global HIV Drugs Market Re …
Human immunodeficiency Virus (HIV) could be a chronic and severe sickness which might be transferred from one person to a different through blood-to-blood and sexual contact. it's a deadly disease that attacks immune cells called CD-4 cells, creating body vulnerable to infections and alternative diseases. Over the years, the rising prevalence of HIV sickness worldwide has completely influenced the demand for HIV medicine. HIV medicine facilitate in preventing the multiplication…
Hepatitis Drugs Market by Therapeutics, Diagnostics, Patient, Drugs Policy
The global hepatitis drugs market is growing due to increasing incidences of hepatitis and increasing support from government organizations. In addition, the growing geriatric population, and increasing R&D investments on hepatitis research and drug discovery are also driving the growth of the global hepatitis drugs market.
Access Detailed Report Summary: https://www.psmarketresearch.com/market-analysis/hepatitis-drugs-market
Among the various types, the hepatitis C segment is expected to be the largest segment, and expected to witness the fastest…
Epilepsy Drugs Market by Country, Drugs, Company & Forecast
For More Information:
https://renub-research.blogspot.com/2019/04/the-factors-that-are-driving-global.html
Epilepsy is a chronic disease in which patient’s brain activities become abnormal due to seizures. Seizure is an unexpected rush of electrical activity in the brain. Seizure is categorized by two types - generalized seizures and focal or partial seizures. Generalized seizures affect the whole brain whereas focal or partial seizures affect just one part of the brain. Global epilepsy drugs market is expected to cross US$…
