The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The mid-size pharmaceuticals market is projected to expand from $632.95 billion in 2022 to $678.75 billion in 2023, with a 7.2% CAGR. The market size is anticipated to hit $875.29 billion by 2027, reflecting a 6.5% CAGR.

North America held the largest mid-size pharmaceuticals market share, and Asia-Pacific was the fastest-growing region in 2022.

Mid-Size Pharmaceuticals Market Driver

The growing incidence of chronic diseases is set to drive the mid-size pharmaceuticals market. Chronic diseases, also termed non-communicable diseases, are enduring health conditions necessitating continuous treatment, leading to elevated medication demand. Mass spectrometry techniques are utilized to identify, measure, and analyze biomarkers and metabolites linked to chronic diseases. An upsurge in chronic disease prevalence contributes to mid-size pharmaceuticals market growth. For example, in January 2023, as per the National Library of Medicine, the United States, the projection indicates 142.66 million people aged 50 and older with at least one chronic disease in 2050, a 99.5% increase from 2020’s 71.522 million. Hence, rising chronic disease prevalence fuels mid-size pharmaceuticals market expansion.

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Prominent Mid-Size Pharmaceuticals Market Trend

Technological advancements are a prominent trend in the mid-size pharmaceuticals market. Leading companies in this sector leverage technology to maintain their market standing. For example, in May 2023, Google Cloud, the cloud computing services suite by Google, introduced AI-powered tools to expedite drug discovery and precision medicine. One of these tools is the Target and Lead Identification Suite, which aids in predicting and understanding protein structures, a critical element in drug research. Another tool, the Multiomics Suite, facilitates the ingestion, storage, analysis, and sharing of extensive genetic data.

Mid-Size Pharmaceuticals Market Prominent Players

Major players in the mid-size pharmaceuticals market are Baxter International Inc., Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co Ltd., Arkema Inc., Astellas Pharma Inc., Daiichi Sankyo Co. Ltd., Alexion Pharmaceuticals Inc., UCB S.A., Sun Pharmaceutical Industries Ltd., Eisai Co. Ltd., Wuxi AppTec co. Ltd., Les Laboratoires Servier S.A., Hospira Inc., Perrigo Co Plc, Aurobindo Pharma Lmited., Cipla Limited, Hikma Pharmaceuticals, Endo International plc, Taisho Pharmaceutical Holdings Co. Ltd., BioMarin Pharmaceutical Inc., Mallinckrodt Plc, Exelixis Inc., Mylan Pharmaceuticals Inc., Neurocrine Biosciences Inc., Kyowa Kirin Co. Ltd., and Emergent BioSolutions Inc.

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Key Mid-Size Pharmaceuticals Market Segments

The global mid-size pharmaceuticals market is segmented –

1) By Drug Development Type: In-House, Outsource

2) By Type: Prescription, Over the Counter

3) By Formulation: Tablets, Capsules, Injectables, Sprays, Other Formulations

4) By Application: Cardiovascular Diseases, Pain Management, Diabetes, Cancer, Other Conditions

The Mid-Size Pharmaceuticals Global Market Report 2023  provides a comprehensive overview on the mid-size pharmaceuticals market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the mid-size pharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
Generic Pharmaceuticals Global Market Report 2023
Diagnostic Enzyme Global Market Report 2023
Material Handling Global Market Report 2023

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