What’s Driving Growth in the Pharmaceutical Drugs Market? Insights into Key Trends and Opportunities
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How has the pharmaceutical drugs market size evolved in recent years?
The growth in the size of the pharmaceutical drugs market has been considerable in recent years. The market, which was valued at $1747.07 billion in 2024, is projected to reach $1864.73 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. Numerous factors have contributed to this historic period of growth. These factors include increased awareness about health, a rise in respiratory diseases, lifestyle changes, growth in pharmaceutical research and development (R&D) funding, an aging population, an increased number of surgical procedures, strong economic growth in emerging markets, and an increased number of approved drugs for hematology/oncology (cancer).
What are the predictions for the pharmaceutical drugs market size in the coming years?
In the coming years, the medium voltage switchgear market is forecasted to experience significant growth, with a projected valuation of $60.11 billion by 2029 and a compound annual growth rate (CAGR) of 5.6%. This forthcoming growth can be associated with key factors such as the emphasis on energy efficiency, initiatives to modernize the grid, the augmentation of renewable energy capacity, heightened industrial automation, and escalating demand within emerging markets. Highlighted trends for the forecast period encompass remote monitoring and diagnostics, cybersecurity precautions, advanced communication procedures, a shift towards gas-insulated switchgear (GIS), and worldwide electrification efforts.
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What key factors are fueling the growth of the pharmaceutical drugs market?
As a result of increased stationary jobs, hectic lifestyles, and shifting consumer preferences, the disease landscape of the global population is changing, particularly in the case of non-communicable diseases like cancer, diabetes, and cardiovascular diseases. Extended work hours, low levels of physical activity, and poor nutritional choices contribute significantly to chronic conditions, including diabetes. Based on World Health Organization data, noncommunicable diseases (NCDs) account for 41 million deaths annually, making up 74% of total global deaths. This further escalates the demand for biologics drugs for diabetes patients. Consequently, these elements are projected to grow the patient population worldwide, thereby propelling the pharmaceutical drug market during the predicted period.
How is the global pharmaceutical drugs market divided into key segments?
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, Others
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
Subsegments:
1) By Cardiovascular Drugs: Antihypertensives, Anticoagulants, Cholesterol-lowering agents
2) By Dermatology Drugs: Topical Corticosteroids, Acne Treatments, Psoriasis Treatments
3) By Gastrointestinal Drugs: Antacids, Proton Pump Inhibitors, Laxatives
4) By Genito-Urinary Drugs: Hormonal Therapies, Anticholinergics for Overactive Bladder, Erectile Dysfunction Medications
5) By Hematology Drugs: Anticoagulants, Blood Volume Expanders, Erythropoiesis Stimulating Agents
6) By Anti-Infective Drugs: Antibiotics, Antivirals, Antifungals
7) By Metabolic Disorder Drugs: Diabetes Medications, Obesity Management Drugs, Thyroid Hormone Replacement
8) By Musculoskeletal Disorder Drugs: Non-steroidal Anti-inflammatory Drugs (NSAIDs), Disease-modifying Antirheumatic Drugs (DMARDs), Muscle Relaxants
9) By Central Nervous System Drugs: Antidepressants, Antipsychotics, Anxiolytics
10) By Others: Chemotherapeutics, Targeted Therapies, Immunotherapies, Glaucoma Treatments, Anti-allergy Drops, Retinal Disease Medications, Asthma Inhalers, COPD Medications, Antihistamines, Vaccines for Infectious Diseases, Therapeutic Nutrients for Chronic Conditions, Calcium Supplements, Iron Supplements, Magnesium Supplements
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Who are the key firms paving the way for growth in the pharmaceutical drugs market?
Major companies operating in the pharmaceutical drugs market include 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, Eurolab, Aspen Pharmacare Holdings Limited
Which trends are expected to transform the pharmaceutical drugs market?
Major pharmaceutical corporations in the drug industry have been introducing groundbreaking drugs like Sohonos (palovarotene) capsules, aiming to secure a competitive advantage in the market. Sohonos is a retinoid used to decrease the size of new heterotopic ossification in those suffering from fibrodysplasia ossificans progressiva (FOP). As an example, Ipsen Biopharmaceuticals, Inc., a biopharmaceutical company originating from France, created Sohonos (palovarotene) in August 2023. This retinoid is designed to reduce the size of new heterotopic ossification in adults, as well as in pediatric female patients aged 8 years and older and male patients aged 10 years and older who are battling fibrodysplasia ossificans progressiva (FOP). FOP is an uncommon genetic disorder related to the connective tissue. It is marked by heterotopic ossification – the unusual growth of bone in regions of the body where bone typically doesn’t grow, like ligaments, tendons, and skeletal muscles. As the disease advances, it leads to reduced movement, deformities, and serious disability.
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What regions are contributing significantly to the growth of the pharmaceutical drugs market?
North America was the largest region in the pharmaceutical drugs market in 2024. 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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