Pharmaceutical Drugs Market Growth Outlook Through 2024-2033

Overview and Scope
Pharmaceutical drug refers to a substance created to treat, prevent, or cure an illness or other condition, or to lessen its symptoms. To list the most popular methods, drugs can be consumed orally, through a skin patch, by injection, or through an inhaler. Other vital medications made from natural materials include vaccinations, steroid hormones, human blood-plasma fractions, and antibiotics.

Sizing and Forecast
The pharmaceutical drugs market size has grown strongly in recent years. It will grow from $1199.86 billion in 2023 to $1267.05 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rise in healthcare awareness, increased prevalence of respiratory diseases, changes in lifestyles, increase in pharmaceutical research and development (r&d) expenditure, increasing aging population, increased number of surgical procedures, strong economic growth in emerging markets and increased number of approvals for hematology/oncology (cancer) drugs..

The pharmaceutical drugs market size is expected to see rapid growth in the next few years. It will grow to $2092.95 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to increasing government support, increase in healthcare access, increase in investments, rapid growth in elderly population, rise in healthcare expenditure and rising awareness on immunization and vaccination. Major trends in the forecast period include use of biomarkers for drug development, increased development of next generation biologics, increased focus on personalized medicine, investment in artificial intelligence (ai) for drugs discovery, combination drug therapy to treat respiratory diseases, partnerships with wearables companies to improve drug research and development, use of 3d printing technology in drug manufacturing, microneedle pills to improve and enhance drug delivery and development of vaccines using mrna.

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Segmentation & Regional Insights
The pharmaceutical drugs market covered in this report is segmented –

1)By Type: Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Musculoskeletal Disorder Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Disease Drugs, Vaccine And Therapeutic Nutrients, Minerals
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies/ Drug Stores, Other Distribution Channels
3) By Drug Classification: Branded Drugs, Generic Drugs
4) By Mode Of Purchase: Over-The-Counter (OTC) Drugs, Prescription-Based Drugs

Sub segments: Anti-Hypertensive Drugs, Hypolipidemic, Anti-Thrombotic, Angina Pectoris, Congestive Heart Failure, Other Drugs For Cardiovascular Diseases (Anti-Arrhythmic And Anti-Anginal Drugs), Acne, Dermatitis, Psoriasis, Other Drugs For Dermatology Diseases, Antacids, Antiulcerants, Antiemetics And Antinauseants, Antidiarrheals, Hormonal Contraceptives, Drugs For Benign Prostatic Hyperplasia, Drugs For Infertility, Drugs For Erectile Dysfunction, Drugs For Urinary Incontinence, Overactive Bladder, Drugs For Infections And Others, Drugs For Hormonal Replacement Therapy, Diuretics, Blood Products And Anemia, Other Blood Disorder Drugs, Antibiotics, Antivirals, Antifungals, Others (Anthelminthic, Antiprotozoal), Anti-Diabetic Drugs, Anti-Thyroid Drugs, Anti-Obesity, Others, Drugs For Rheumatoid Arthritis, Muscle Relaxants, Other Musculoskeletal Disorders Drugs, Analgesics, Anti-Parkinson Drugs, Anesthetics, Anti-Epileptics, Alzheimer, Other CNS Drugs, Drugs For Lung Cancer, Pancreatic Cancer, Breast Cancer, Prostate Cancer, Ovarian Cancer, Colorectal Cancer, Gastric Cancer, Kidney Cancer, Brain Tumor, Thyroid Cancer, Skin Cancer, Bladder Cancer, Cervical Cancer, Blood Cancer, Others, Antiglaucoma Drugs, Dry Eye Medication, Other Ophthalmology Drugs, Anti-Asthmatics And COPD Drugs, Cough And Cold Preparations, Therapeutic Vaccines And Preventive Vaccines, Electrolytes And Minerals, Vitamins

North America was the largest region in the pharmaceutical drugs market in 2023. Middle East is expected to be the fargest growing region in the forecast period. The regions covered in the pharmaceutical drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The rise in sedentary jobs, busy lifestyles, and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes, and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, Noncommunicable diseases (NCDs) kill 41 million people each year, equivalent to 74% of all deaths globally. Thereby increasing the need for biologics drugs for diabetic patients. These factors are expected to increase the patient pool globally, thereby driving the pharmaceutical drug market during the forecast period.

Key Industry Players

Major companies operating in the pharmaceutical drugs market report are Pfizer Inc., AbbVie, Johnson & Johnson, Merck & Co, Sanofi S.A., F. Hoffmann-La Roche Ltd., Novartis AG, Bristol-Myers Squibb, AstraZeneca, GlaxosmithKline, Shanghai Pharmaceutical Drugs, Shanghai Fosun Pharmaceutical, Takeda Pharmaceutical Company Ltd., Otsuka Pharmaceutical Co. Ltd., Daiichi Sankyo, China National Pharmaceutical Group Co., Ltd. (Sinopharm), Shanghai Acebright Pharmaceutical Drugs Group Co., Ltd., Jiangsu Hengrui Medicine Co., Ltd., Hanmi Pharmaceutical, Cipla Limited, Aurobindo Pharma Limited, Dr. Reddy’s Laboratories Ltd., Sun Pharma, KYORIN Holdings, Inc., Nichi-Iko Pharmaceutical Co., Ltd., Daewoong Pharmaceutical Co.,Ltd., Kalbe Farma, Hyphens Pharma, Adjuvanz Technology Pte Ltd., Alliance Pharm Pte Ltd., Teva UK Limited, Abbott Laboratories, Vectura Group, Boehringer Ingelheim, Mylan, Zentiva, Apotex, Gilead Sciences, Bayer, Amgen, Janssen Pharmaceutica, Accord Healthcare Inc., AA Pharma Inc., Sanfer, LABORATORIOS SENOSIAIN SA DE CV (Senosiain), Siegfried Rhein, Eli Lilly & Company, Biogen, EMS Pharma, Hypermarcas, Eurofarma, Teuto Brasileiro, Biolab Farmaceutica, Cristalia, União Quimica, Ache, Mantecorp Farmasa, Libbs, FQM Grupo, Spimaco, Jamjoom Pharma, Tabuk Pharmaceutical Manufacturing, Jazeera Pharmaceutical Industries, Julphar, Neopharma, Johnson & Johnson, Eurolab, Aspen.

The pharmaceutical drugs market report table of contents includes:

1. Executive Summary
2. Pharmaceutical Drugs Market Characteristics
3. Pharmaceutical Drugs Product/Service Analysis -Product/Service Examples
4. Pharmaceutical Drugs Market Trends And Strategies
5. Pharmaceutical Drugs Market – Macro Economic Scenario
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31. Belgium Pharmaceutical Drugs Market
32. Denmark Pharmaceutical Drugs Market
33. Finland Pharmaceutical Drugs Market
34. Ireland Pharmaceutical Drugs Market
35. Netherlands Pharmaceutical Drugs Market
36.Appendix

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