Global Prescription Drugs Market to Reach $1.7 Trillion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Oct 27, 2022--

The "Prescription Drugs: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Prescription Drugs Market to Reach $1.7 Trillion by 2027

In the changed post COVID-19 business landscape, the global market for Prescription Drugs estimated at US$1 Trillion in the year 2020, is projected to reach a revised size of US$1.7 Trillion by 2027, growing at a CAGR of 7.2% over the analysis period 2020-2027. Generics, one of the segments analyzed in the report, is projected to record a 7.1% CAGR and reach US$279.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Orphan Drugs segment is readjusted to a revised 8% CAGR for the next 7-year period.

The U.S. Market is Estimated at $286 Billion, While China is Forecast to Grow at 11.4% CAGR

The Prescription Drugs market in the U.S. is estimated at US$286 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$375.9 Billion by the year 2027 trailing a CAGR of 11.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 6.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR.

Other Types Segment to Record 7.1% CAGR

In the global Other Types segment, USA, Canada, Japan, China and Europe will drive the 6.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$545.2 Billion in the year 2020 will reach a projected size of US$844.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$235.5 Billion by the year 2027, while Latin America will expand at a 8.6% CAGR through the analysis period.

Select Competitors (Total 23 Featured) -

• AbbVie, Inc.
• Allergan PLC
• Amgen, Inc.
• AstraZeneca PLC
• Bayer AG
• Boehringer Ingelheim GmbH
• Bristol-Myers Squibb Company
• Celgene Corporation
• Eli Lilly and Company
• F. Hoffmann-La Roche AG
• Gilead Sciences, Inc.
• GlaxoSmithKline PLC
• Johnson & Johnson
• Merck & Co., Inc.
• Novartis International AG
• Novo Nordisk A/S
• Pfizer, Inc.
• Sanofi
• Shire PLC
• Teva Pharmaceutical Industries Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/f6ek60

View source version on businesswire.com:https://www.businesswire.com/news/home/20221027005606/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./ CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

KEYWORD:

INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL

SOURCE: Research and Markets

Copyright Business Wire 2022.