Pharmaceutical Sector Report 2023 – Addressing health disparities, one innovation at a time

Highlights of the report

The adoption of new treatments remains a key driver of growth in the pharmaceutical market. However, the industry faces challenges such as patent lifecycles and increasing competition from generic and biosimilar drugs. These factors will continue to influence medicine spending and overall market growth.

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Developed economies with established healthcare systems and substantial levels of per capita healthcare spending, such as the United States, European nations, and Japan, constitute significant pharmaceutical markets. Due to their strong intellectual property protection, wide market access, and rigorous regulatory frameworks that guarantee safety, effectiveness, and quality standards, these areas provide an advantageous environment for pharmaceutical businesses.

The global pharmaceutical business has grown significantly in recent years, playing a crucial role in determining price policies and facilitating access to pharmaceuticals. The expected value of the worldwide pharmaceutical market in 2022 was 1.48tn U.S. dollars, a little rise from the estimated value of the market in 2021 of 1.45tn U.S. dollars.

The global pharmaceutical market reached a valuation of US$1.4tn in 2021, and it is projected to expand to ~US$1.8tn by 2026, exhibiting a compound annual growth rate (CAGR) of 3-6%. Excluding the impact of the COVID-19 pandemic, the industry is expected to record a CAGR of around 5% between 2021 and 2026.

• Executive Summary

• Industry Overview
– Market Overview
– R&D
– Global Trends
– Competitive Landscape and Index

• Segmentation Analysis
– By API Type Analysis
– By Drug Type Analysis
– By Application Analysis

• Outlook

• Key Players
– Pfizer
– Abbvie
– Novartis
– Johnson & Johnson
– Merck & Co
– Sanofi
– Eli Lilly & Company
– Gilead Sciences
– Moderna

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Pharmaceutical Sector Report 2023 – Addressing health disparities, one innovation at a time



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