Pharmaceuticals Industry Overview: Growth Prospects, Influencing Factors, and Key Segments, By The Global Market Model From TBRC

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28 Aug, 2023, 11:40 ET

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A Comprehensive Global Pharmaceutical Industry Overview: Major Leaders, Market Size, Growth Trends, Regional Analysis, and Forecast

LONDON, Aug. 28, 2023 /PRNewswire/ -- According to the Global Market Model, the flagship product of The Business Research Company, the projection for the pharmaceuticals industry maintains a substantial level of stability, aligning with the prior forecast as of the end of 2022. Influential variables, including inflation, economic challenges, ramifications of the Russia-Ukraine conflict, and the scarcity of active pharmaceutical ingredients (API) due to disruptions in the supply chain, had all been duly considered in our previous forecast revision. Therefore, our market projections for this sector remained resilient throughout the current update phase.

Pharmaceutical industry size and forecast

In 2022, the worldwide pharmaceuticals sector achieved a valuation of $1610.7 billion. On an individual basis, per capita consumption within the market amounted to $206. This market segment constituted 1.6% of the global Gross Domestic Product (GDP).

Anticipated growth in the pharmaceuticals market indicates a compound annual growth rate (CAGR) of 6.8% from 2022 through 2032. This expansion during the projected period is attributed to the emergence of innovative drug delivery methods, including microneedle patches and microchip technologies. Furthermore, the adoption of novel approaches like stem cells and organ chip technologies also contribute to this growth trend.

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Pharmaceuticals industry largest segment and region

In 2022, the most substantial division within the pharmaceuticals market was the sector related to anti-infective drugs, which constituted 15.4% of the overall market share. The United States held a predominant position within the pharmaceuticals market, representing 42.6% of the total share in the same year.

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The Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics for 7000 markets across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

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SOURCE The Business Research Company