Global Mid-Size Pharmaceuticals Market Projected to Grow at 6.6% CAGR, Reaching $983.81 Billion by 2029

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What Will the Mid-Size Pharmaceuticals Industry Market Size Be by 2025?
There has been a significant expansion in the mid-size pharmaceuticals market over the past few years. The market size, which is projected to rise from $718.71 billion in 2024 to $760.71 billion in 2025, will grow at a compound annual growth rate (CAGR) of 5.8%. The previous period's growth can be tied to several factors including the surge in the generic drug market, patent expirations of blockbuster drugs, measures to contain healthcare costs, burgeoning biotechnology, and regulatory alterations that stimulate innovation.

What's the Long-Term Growth Forecast for the Mid-Size Pharmaceuticals Market Size Through 2029?
The middle-sized drug industry expects substantial expansion in the coming years, rising to "$983.81 billion in 2029 with a compound annual growth rate (CAGR) of 6.6%. The anticipated growth is due to several factors, such as the transition to value-based care models, streamlined regulatory pathways, heightened health consciousness, empowered patients, increased demand for generic and biosimilar drugs, and the emergence of digital therapeutics. The major trends in the forecast period include more attention to patient-centered approaches, the incorporation of artificial intelligence (AI), strategies for global market growth, initiatives for environmental sustainability, telemedicine, and remote monitoring of patients.

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What Are the Key Growth Drivers Fueling the Mid-Size Pharmaceuticals Market Expansion?
The surge in chronic diseases is anticipated to fuel the expansion of the mid-size pharmaceuticals market in the near future. These diseases, also termed as non-communicable diseases, are lengthy medical conditions that call for continuous monitoring and treatment, thus escalating the demand for drugs. Techniques like mass spectrometry are implemented for recognizing, quantifying, and scrutinizing biomarkers and metabolites related to chronic diseases. An upturn in such diseases is expected to bolster the mid-size pharmaceuticals market. For instance, the World Health Organization, a specialized agency of the United Nations based in Switzerland, reported in September 2023 that chronic or non-communicable diseases (NCDs) were the cause of 74% of the annual worldwide deaths, totaling 41 million. Consequently, the growing prevalence of chronic diseases is propelling the development of the mid-size pharmaceuticals market.

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What Trends Will Shape the Mid-Size Pharmaceuticals Market Through 2029 and Beyond?
The rise of technology is a critical trend that is gaining momentum in the mid-size pharmaceuticals market. Significant corporations in this sector are employing technology to maintain their market standing. For example, Google Cloud, a cloud computing service suite provided by U.S.-based firm Google, launched AI-enhanced tools in May 2023 to speed up the drug discovery process and precision medicine. One such tool is the Target and Lead Identification Suite, which aids companies in predicting and understanding protein structures, an essential component of drug research. Another tool, the Multiomics Suite, aids researchers in managing, analyzing, and disseminating massive amounts of genetic data.

How Is the Mid-Size Pharmaceuticals Market Segmented?
The mid-size pharmaceuticals market covered in this report is segmented -

1) By Drug Development Type: In-House, Outsource
2) By Type: Prescription, Over The Counter
3) By Formulation: Tablets, Capsules, Injectables, Sprays, Other Formulations
4) By Application: Cardiovascular Diseases, Pain Management, Diabetes, Cancer, Other Conditions

Subsegments:
1) By In-House: Research And Development (R&D) Departments, Clinical Trials Management
2) By Outsource: Contract Research Organizations (CROs), Contract Manufacturing Organizations (CMOs)

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Which Companies Are Leading the Charge in Mid-Size Pharmaceuticals Market Innovation?
Major companies operating in the mid-size pharmaceuticals market include Baxter International Inc., Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co Ltd., Astellas Pharma Inc., Daiichi Sankyo Co. Ltd., Alexion Pharmaceuticals Inc., UCB S.A., Sun Pharmaceutical Industries Ltd., Eisai Co. Ltd., Wuxi AppTec co. Ltd., Les Laboratoires Servier S.A., Hospira Inc., Perrigo Co Plc, Aurobindo Pharma Lmited., Cipla Limited, Hikma Pharmaceuticals, Endo International plc, Taisho Pharmaceutical Holdings Co. Ltd., BioMarin Pharmaceutical Inc., Mallinckrodt Plc, Exelixis Inc., Mylan Pharmaceuticals Inc., Neurocrine Biosciences Inc., Kyowa Kirin Co. Ltd., Emergent BioSolutions Inc.

Which Regions Are Leading the Global Mid-Size Pharmaceuticals Market in Revenue?
North America was the largest region in the mid-size pharmaceutical market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mid-size pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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