This statistic shows the change in revenue on the global pharmaceutical market in 2018, by region. In that year, the Latin American pharmaceutical market reported a growth of nine percent compared to the previous year.
Global pharmaceutical market
The pharmaceutical market has experienced the largest changes in Latin America. The North American industry garnered a five percent increase in revenue from 2017 to 2018 while the EU’s revenues increased by four percent. Emerging markets consist of 21percent of the industry’s market value in 2018 in comparison to only 13 percent in 2006. Countries like China are rapidly reforming the medical industry. China’s five year plan (2011-2015) intends to overhaul the health care system and increase insurance coverage. Government stimulus, increased health awareness, and improved R&D capabilities are driving China’s pharmaceutical industry growth. An increasingly large as well as aging population has also helped to expand the healthcare system. The country generated some 134 billion U.S. dollars in pharmaceutical industry revenue in 2018. The pharmaceutical industry in countries like China has many opportunities that are conducive to its growth.
In 2018, the North American pharmaceutical market generated around 510 billion U.S. dollars in revenue while Asia, Africa and Australasia, collectively, account for 278 billion dollars in total. Currently, the global pharmaceutical industry is worth some 1.2 trillion U.S. dollars in market value.
Change in revenue on the global pharmaceutical market in 2018, by region
Values not included in the current BPI-report were taken from previous reports.
BPI stands for "Bundesverband der Pharmazeutischen Industrie" (German Federal Association of the Pharmaceutical Industry).
* Including Japan.
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BPI. (December 2, 2019). Change in revenue on the global pharmaceutical market in 2018, by region [Graph]. In Statista. Retrieved July 09, 2020, from https://www.statista.com/statistics/266482/world-pharmaceutical-market-change-in-revenue-by-region/
BPI. "Change in revenue on the global pharmaceutical market in 2018, by region." Chart. December 2, 2019. Statista. Accessed July 09, 2020. https://www.statista.com/statistics/266482/world-pharmaceutical-market-change-in-revenue-by-region/
BPI. (2019). Change in revenue on the global pharmaceutical market in 2018, by region. Statista. Statista Inc.. Accessed: July 09, 2020. https://www.statista.com/statistics/266482/world-pharmaceutical-market-change-in-revenue-by-region/
BPI. "Change in Revenue on The Global Pharmaceutical Market in 2018, by Region." Statista, Statista Inc., 2 Dec 2019, https://www.statista.com/statistics/266482/world-pharmaceutical-market-change-in-revenue-by-region/
BPI, Change in revenue on the global pharmaceutical market in 2018, by region Statista, https://www.statista.com/statistics/266482/world-pharmaceutical-market-change-in-revenue-by-region/ (last visited July 09, 2020)