Harrisburg, NC -- (SBWIRE) -- 10/19/2020 -- The Global Pharmaceutical Drugs Market Research Report provides an industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). It provides an in-depth study of the Pharmaceutical Drugs market by using SWOT analysis. This gives a complete analysis of drivers, restraints, and opportunities of the market. This report presents a comprehensive overview, market size and share, regional and country-level analysis of the Pharmaceutical Drugs market. The segmental analysis focuses on forecast by Type, Application in terms of revenue and forecast for the period 2020-2030.
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Top Key Players in the Global Pharmaceutical Drugs Market: Novartis AG, Sanofi S.A., Pfizer Inc., Gilead Sciences, Inc., Johnson & Johnson
North America was the largest region in the global pharmaceutical drugs market, accounting for 44% of the market in 2019. The Asia Pacific was the second largest region accounting for 27% of the global pharmaceutical drugs market. Africa was the smallest region in the global pharmaceutical drugs market.
There has been an increasing push toward the development of personalized medicine. Personalized medicine is also referred to as precision medicine, the idea of which is to provide medical care according to patients' individual characteristics, needs, preferences and genetic makeup. According to a survey by the Tufts Center, 94% of pharmaceutical companies have invested in personalized medicine research. For instance, Bayer is investing in personalized medicine for the development of therapies for cardiovascular diseases.
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 global pharmaceutical drugs market is expected to grow from $947.9 billion in 2019 to $970.4 billion in 2020 at a compound annual growth rate (CAGR) of 2.4%. The growth is mainly due to the COVID-19 outbreak and spiked demand for drugs such as anti-infectives (antivirals and antibiotics in particular), respiratory drugs, and anti-diabetic drugs, among others. However, the growth is not significant as COVID-19 pandemic has affected industries across the globe including the pharmaceutical sector. The restrictions on non-essential medical services, drug shortages due to slowed production of drugs because of extended factory closures in various countries, shortage of APIs and other chemicals, and rise in prices of key ingredients have been the roadblocks obstructing its growth. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $1273.7 billion in 2023.
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Regional Analysis for Market:
For a comprehensive understanding of market dynamics, the global Pharmaceutical Drugs market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on the basis of market findings across major countries in these regions for a macro-level understanding of the market.
Table of Contents:
Overview: This segment offers an overview of the report to provide an idea regarding the contents and nature of the research report along with a wide synopsis of the global Pharmaceutical Drugs Market.
Analysis of Leading Players Strategies: Market top players can utilize this analysis to increase the upper hand over their rivals in the market.
Study on Major Market Trends: This segment of the report delivers a broad analysis of the most recent and future market trends.
Forecasts of the Market: The report gives production, consumption, sales, and other market forecasts. Report Buyers will approach exact and approved evaluations of the total market size in terms of value and volume.
Analysis of Regional Growth: This report covered all major regions and countries. The regional analysis will assist market players to formulate strategies specific to target regions, tap into unexplained regional markets, and compare the growth of all regional markets.
The research includes historic data from 2015 to 2020 and forecasts until 2030 which makes the reports an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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