Pharmaceutical Drugs Global Market Report 2022

New York, March 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pharmaceutical Drugs Global Market Report 2022" - https://www.reportlinker.com/p05308970/?utm_source=GNW


The global pharmaceutical drugs market is expected to grow from $ 1,075.97 billion in 2021 to $1,136.23 billion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1,635.128 billion in 2026 at a CAGR of 9.5%.

The pharmaceutical drug market consists of sales of goods and related services by entities (organizations, sole traders and partnerships) that produce and sell pharmaceutical drugs used to treat various diseases. This industry includes establishments that produce drugs such as cardiovascular drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs and other drugs used to treat cardiovascular diseases, rare genetic disorders, infections, metabolic disorders, cancers, respiratory diseases and others.

The main types of pharmaceutical drugs are cardiovascular drugs, dermatology drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs, anti-infective drugs, metabolic disorders drugs, musculoskeletal disorders drugs, central nervous system drugs, oncology drugs, ophthalmology drugs and respiratory diseases drugs.Cardiovascular drugs are used to treat medical conditions associated with the heart or the circulatory system (blood vessels), such as arrhythmias, blood clots, coronary artery disease, high or low blood pressure, high cholesterol, heart failure, and stroke.

The drugs are administered through oral, parenteral, and others that are classified into branded and generic drugs. The various mode of purchase includes prescription-based drugs and over-the-counter drugs which are distributed by hospital pharmacies, retail pharmacies/ drug stores and others.

North America was the largest region in the pharmaceutical drugs market in 2021.Middle East is expected to be the fargest growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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, chronic disease prevalence rose by 57% globally, in the year 2020. China and India together had about 193.4 million diabetic patients in 2019 and India is expected to have about 101 million diabetic patients by 2030, thereby increasing the need for biologics drugs for diabetic patients. These factors are expected to increase the patient pool globally, thereby driving the pharmaceutical drugs market during the forecast period.

Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period, this is expected to limit new investments in the market.Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country.

This is likely to affect new investments in terms of expansion, research and development of new products. For instance, the US interest rates rose up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the pharmaceuticals market growth.

Early Rx-to-OTC switch, or switching the product from prescription to non-prescription status, is a key trend in the dermatology drugs market.Traditionally, the Rx-to-OTC status conversion was generally observed at a phase nearing the patent expiry or after.

However, forward-thinking companies are now looking at switching from Rx-to-OTC well in advance of the patent expiry of the drug.This helps the manufacturer to capitalize on the market opportunities for the product.

Early Rx-to-OTC switching also provides an additional benefit as a way to recover all the expenses incurred on the product by the company. For example, in 2020, FDA has switched three prescription drugs to OTC including Voltaren for arthritis pain, olopatadine hydrochloride 0.1% and 0.2% (Pataday Twice Daily Relief and Pataday Once Daily Relief) for temporary relief of itchy and red eyes due to pollen, ragweed and grass.

The countries covered in the pharmaceutical drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.


Read the full report: https://www.reportlinker.com/p05308970/?utm_source=GNW

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