Pharmaceutical market: worldwide revenue 2001-2023

The global pharmaceutical market has experienced significant growth in recent years. For 2023, the total global pharmaceutical market was estimated at around 1.6 trillion U.S. dollars. This is an increase of over 100 billion dollars compared to 2022.

Global pharmaceutical markets

Globally, the United States is by far the leading market for pharmaceuticals, followed by other developed countries and emerging markets. Emerging markets can include middle and low-income countries such as Brazil, India, Russia, Colombia and Egypt, to name a few. Despite increasing revenues globally, the Latin American region accounts for the lowest share of the global pharmaceutical market’s revenues.

Top pharmaceuticals globally

The top pharmaceutical products sold globally include Humira, Eliquis and Revlimid. Oncology is the op therapeutic area for drug sales globally and it is expected to show the largest growth over the next years. It is followed by drug spending for autoimmune diseases and diabetes. During the height of the COVID-19 pandemic, covid vaccine Comirnaty was the world's top revenue generating pharmaceutical product.