World pharmaceutical sales by region forecast 2023

Total pharmaceutical sales numbers in North America are projected to amount to some 628 billion U.S. dollars in 2023, making it the regional submarket with the highest global sales numbers by far.

Pharmaceutical spending and product revenue

In 2023, the United States is projected to spend between 625 and 655 billion U.S. dollars on medicine, making it the country with the highest pharmaceutical expenditures by far. China, which is estimated to be in second place, has a maximum projected expenditure estimate of 170 billion U.S. dollars for that year. The top pharmaceutical products for the subsequent year are expected to be Keytruda, Humira, and Eliquis, respectively. Keytruda by Merck & Co is forecast to generate some 17 billion U.S. dollars in revenue in 2024.

Chemical and biological substances

Given that U.S. pharmaceutical expenditures are some of the highest in the world, it comes to no surprise that the United States produces a large volume of new chemical or biological entities each year. Between 2014 and 2018, American companies introduced a total of 125 new chemical or biological substances. Within the same period, Europe produced almost seventy new entities.

Projected global pharmaceutical sales for 2023, by region (in billion U.S. dollars)*

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Sources

Release date

March 2020

Region

Worldwide

Survey time period

as of March 2020

Supplementary notes

* Estimates are based on ex-manufacturer prices at CER.

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