U.S. Accounts for Nearly Half of the Global Pharma Market

The United States dominates the global pharmaceutical market like no other country in the world. According to the healthcare intelligence company IQVIA, the U.S. alone accounted for nearly half of all worldwide prescription drug sales in 2024, generating almost $800 billion in revenue, within a global pharma market estimated at $1.7 trillion. As our infographic shows, the U.S. dwarfs the four other major national markets: China ($113 billion, hospital market only), Germany ($70 billion), Japan ($62 billion) and France ($49 billion).

More importantly, the disparity persists when accounting for population size. In 2024, pharmaceutical sales exceeded $2,000 per capita in the United States, one of the highest rates in the world. In contrast, this indicator was significantly lower in many European countries: approximately $800 per capita in Germany, $700 in France and Spain, $600 in the United Kingdom. These differences partly reflect the lack of drug price controls in the U.S. and its role as the primary revenue engine for global pharma giants.