London, UK -- (SBWIRE) -- 01/29/2020 -- The pharmaceutical industry develops drugs to diagnose, cure, treat or prevent diseases. Pharmaceutical drugs are subjected to various laws and regulations that deal with patenting, testing, safety, efficacy and marketing. Pharmaceutical companies produce pharmaceutical drugs made from active pharmaceutical ingredients (API) and excipients.

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Major trends influencing the pharmaceutical drugs include:

Early Rx-To-OTC Switch-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 usually took place at a time 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.

Increase In Personalized Medicine - There has been an increasing push towards 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 patient's individual characteristics, needs, preferences and genetic makeup. According to a survey by the Tufts Center, 94% of pharmaceutical companies have invested in personal medicine research. For instance, Bayer is investing in personalized medicine for the development of therapies for cardiovascular diseases.

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The Pharmaceutical drugs market is segmented by specialty, and by geography.

By Specialty - The pharmaceutical drugs market is segmented by specialty into
a) Musculoskeletal Disorders Drugs
b) Cardiovascular Drugs
c) Oncology Drugs
d) Anti-infective Drugs
e) Metabolic Disorders Drugs
f) Central Nervous System Drugs
g) Genito-urinary Drugs
h) Respiratory Diseases Drugs
i) Gastrointestinal Drugs
j) Hematology Drugs
k) Dermatology Drugs
l) Ophthalmology Drugs

Metabolic Disorders Drugs had the highest growth rate of nearly 11.59% during the historic period. The fastest growth in the historic period can be attributed to the growing diabetic population worldwide, and increasing academia-industry collaborations to develop new drugs for treatment of metabolic disorders.

Countries: 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, Vietnam

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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North America is the largest market for pharmaceutical drugs, accounting for 36.5% of the global market. It was followed by Asia-Pacific, Western Europe, and then the other regions. Going forward, Asia-Pacific and Middle East will be the fastest growing regions in this market.

Major Competitors of global pharmaceutical drugs market are Novartis AG, Sanofi S.A., Pfizer Inc., Gilead Sciences, Inc.

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