The global pharmaceutical market is one of the top performing life science markets with revenues worth ~USD 1.6 trillions (2022) and a CAGR of 6.1% (2022-2029)

AHMEDABAD, GUJARAT, INDIA, December 15, 2022 /EINPresswire.com/ -- Insights10 has published a series of reports on Global Pharmaceutical Market, which includes a Global report, as well as regional reports for North America, APAC, Europe, Middle East, Africa, Latin America; and countrywise reports for 17+ countries including US, Canada, Germany, Spain, China, India, Japan, Australia and UK.

The global pharmaceutical market is one of the top performing life science markets, with new drugs, and patient support services continually being developed, approved and marketed. The market crossed revenues worth approximately USD 1.6 trillions in 2022 to USD 2.4 trillions by 2029 - with a CAGR of 6.1%.

The Global Pharmaceutical Market Analysis reports by Insights10 reflects that the US accounts for ~45% of the global pharmaceutical market. The global vaccination rollout and pent-up demand for essential and non-essential medical treatments is resulting in robust output and sales of the pharma market in 2022. The 2022-2023 market growth will be driven by the aging population’s drug demand for mid- and long-term treatments and a friendly regulatory environment as 50+ novel drugs received the FDA approval in 2021 and 30+ novel drugs in 2022.

Insights10 has additionally also published 2500+ reports on some of the top segments of the pharma market across all geographies including the global dermatology drugs market that was valued at USD 18.42 billion globally in 2022 and is rising at a CAGR of 11.0% (2023-2031), the global oncology drug market that sized USD 156.47 billion in 2022 and is surging at a CAGR of 7.47% (2023-2027), the global vaccines market that was pegged at USD 61.4 billion in 2021 and is growing at a CAGR of 10.8% (2022-2028), the global antibiotics market that sums up to USD 44.77 billion in 2022, is rising at CAGR of 3.3% (2023-2028), the global anti-aging products market that was USD 49 billion big in 2022 and is rising at 7% CAGR (2023-2033), to name a few.

Anticancer, neurology, ophthalmology, antiviral, anti-inflammatory, gene therapy, monoclonal antibody, prophylactic vaccine, cellular therapies were some of the leading therapeutic areas for medication and R&D products’ demand in the year 2022. One of the major promoting factors is the rising prevalence and treatment of chronic diseases like diabetes - affecting around 10.5% of global population each year, heart disease - responsible for approximately 32% of global mortality each year, asthma - diagnosed in almost 8% of global population each year, hypertension - affecting about 1.28 billion adults worldwide each year and stroke, that is affecting 1 in every 4 of us.

With the global generic drugs market estimated to be USD 402.9 billion in 2022, the industry is sensing a huge opportunity to venture into generics in addition to precision medicines and genomic medicines. This is creating interesting trends in M&A deals, compelling big pharma companies in making huge investments to expand their portfolios and pipeline. The pharmaceutical market is an integral part of the healthcare ecosystem and with innovation catering to more outcome-based and patient centric solution models, the industry will experience an exponential growth in the coming decade!


About Insights 10

Insights10 is a healthcare-focused market research platform with an objective of supporting data-driven decisions and delivering actionable insights for healthcare and life science organizations.

Insights10 platform provides syndicated and customized research reports in healthcare and allied industries such as pharmaceuticals, diseases/therapies, Medical devices, digital health, healthcare services, OTC and nutraceuticals, etc. Insights10 platform currently provides 30,000+ different reports on different topics at a global as well as country specific level, making it one of the large collections of syndicated research reports available across the world.

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