In 2017, the United States, followed by (the leading 15 countries from) Western Europe, had that largest share of pharmaceutical revenue globally. For comparison, Australia had one of the lowest single shares among the listed countries. The data shows that the United States held 33 percent of global pharmaceutical revenue. The pharmaceutical industry is composed of various actors responsible for the discovery, development, and distribution of drugs and medicines.
The global pharma industry
The worldwide pharmaceutical market was recently valued at over 1.14 trillion U.S. dollars. Trends suggest that the pharmaceutical market globally is on the increase. In recent years Pfizer had the largest amount of global prescription sales; however, Roche had the highest research and development spending. Research and development is important for creating new, innovative pharmaceuticals, since branded products are under the threat of patent expiration and generic competition after a certain amount of years.
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Torreya Partners. (October 27, 2017). Share of pharmaceutical revenue worldwide in 2017, by country [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/784420/share-of-worldwide-pharma-revenue-by-country/
Torreya Partners. "Share of pharmaceutical revenue worldwide in 2017, by country ." Chart. October 27, 2017. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/784420/share-of-worldwide-pharma-revenue-by-country/
Torreya Partners. (2017). Share of pharmaceutical revenue worldwide in 2017, by country . Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/784420/share-of-worldwide-pharma-revenue-by-country/
Torreya Partners. "Share of Pharmaceutical Revenue Worldwide in 2017, by Country ." Statista, Statista Inc., 27 Oct 2017, https://www.statista.com/statistics/784420/share-of-worldwide-pharma-revenue-by-country/
Torreya Partners, Share of pharmaceutical revenue worldwide in 2017, by country Statista, https://www.statista.com/statistics/784420/share-of-worldwide-pharma-revenue-by-country/ (last visited October 31, 2024)
Share of pharmaceutical revenue worldwide in 2017, by country [Graph], Torreya Partners, October 27, 2017. [Online]. Available: https://www.statista.com/statistics/784420/share-of-worldwide-pharma-revenue-by-country/