Market Insights report
The Pharmaceuticals market shows solid growth, which is mainly fueled by innovative drugs and an increasing demand for healthcare, especially in emerging countries. Research and development, which involves large costs as well as high risks and considerable uncertainties, is the main market driver.
This report provides an overview of the Pharmaceuticals market and includes a range of statistics: The overall market development, a forecast until 2028, worldwide comparison, and more are included for the Pharmaceuticals market as well as for the 14 markets. In total, the worldwide Pharmaceuticals revenue, which amounted to US$1,096 billion in 2022, is expected to continue growing at a rate to reach US$1,470 billion by 2028.
What's included?
The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disease or a certain type of medicine, such as Oncology Drugs, Anti-Diabetes Drugs, and Vaccines. They include original brands, biosimilars, generics, and orphan drugs. Prescription drugs and over-the-counter (OTC) drugs are both included. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere.This report is a part of our Market Insights product, giving an overview of the Pharmaceuticals market from an international perspective. Besides all relevant market figures like total revenues for the years from 2016 to 2028, we furthermore give detailed insights into current trends, key players and important background information on the Pharmaceuticals market.In general, the Pharmaceuticals market is expected to grow at a CAGR of 6.19% between 2024 and 2028. Oncology Drugs is the largest market, the second largest market was Vaccines, followed by the Anti-Diabetes Drugs market. The United States (US$588 billion) and China (US$117 billion) accounted for the highest revenues within the Pharmaceuticals market in 2022.
Note: CAGR: Compound Annual Growth Rate
Overview
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