U.S. Pharmaceutical Industry - Statistics & Facts

U.S. Pharmaceutical Industry - Statistics & Facts

Statistics and facts about the Pharmaceutical Industry in the U.S.

The U.S. pharmaceutical market is the world’s most important national market. Together with Canada and Mexico, it represents the largest continental pharma market worldwide. The United States alone holds over 40 percent of the global pharmaceutical market. In 2015, this share was valued around 413 billion U.S. dollars. Many of the global top companies are located in the United States. In 2015, six out of the top eleven companies were U.S.-based.

The largest U.S. companies on the global market are Johnson & Johnson, Pfizer and Merck &Co. Johnson & Johnson generated around 70 billion U.S. dollars of revenue in 2015, although only a part of it came from the company's pharmaceuticals division. The company is also active in the medical devices/diagnostics and consumer products segments. Interestingly, among the top pharma companies by revenue alone within the U.S. in 2015, were non-U.S. based companies British-Swedish AstraZeneca and Swiss Novartis.

Regarding medical research and development, the U.S. has always been a pioneer and a booster for the global pharmaceutical industry. Over 50 billion U.S. dollars are spent annually on pharmaceutical R&D purposes in the United States. Costs for developing a new drug have been increasing drastically over the last decades from under 200 million U.S. dollars in the 1970's up to over 2.6 billion nowadays. The R&D expenditures per employee in the pharmaceutical industry are incomparably higher than in any other manufacturing sector.

Total nominal medicine spending in the U.S. was around 425 billion U.S. dollars in 2015. In recent years, the three top therapy classes for which most money was spent included oncology, diabetes, and autoimmune. These three areas alone were worth over 110 billion U.S. dollars in 2015. In the same year, Gilead Sciences’ Harvoni, a hepatitis C drug, was the best-selling drug in the U.S., generating some 14 billion U.S. dollars in revenue. Based on the number of prescriptions, generics represent the top drugs. For example, Levothyroxine and Acetaminophen were prescribed a combined 218 million times in 2015.

Picture: freeimages.com / vierdrie

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