Pune, India -- (SBWIRE) -- 10/26/2020 -- The global prescription drugs market size is predicted to reach USD 1,562.15 billion by 2026, exhibiting a CAGR of 8.9% during the forecast period. The increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases and diabetes will spur sales opportunities for the prescription drugs market revenue during the forecast period. The growing cases of orphan diseases will also have a tremendous impact on the prescription drugs market share. Nonetheless, the ongoing clinical trials by leading players for the development of innovative drugs will enable speedy expansion of the market in the foreseeable future, states Fortune Business Insights in a report, titled "Prescription Drugs Market Size, Share & Industry Analysis, By Product Type (Generics, Orphan, and Other Prescription Drugs), By Therapy (Oncology, Anti-diabetics, Vaccines, Sensory Organs, Immunosuppressants, Anticoagulants, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, and Online Pharmacies), and Regional Forecast, 2019-2026" the market size stood at USD 811.00 billion in 2018.

Highlights of the Report:

- In-depth analysis of various insights, namely, Prescription Drugs Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Prescription Drugs Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.

Key Players Operating in The Prescription Drugs Market Include:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

- Novartis AG
- Pfizer, Inc.
- F. Hoffmann-La Roche Ltd
- Sanofi
- Johnson & Johnson Services, Inc
- Merck & Co., Inc.
- AbbVie, Inc.
- GlaxoSmithKline plc.
- AstraZeneca
- CELGENE CORPORATION (BRISTOL-MYERS SQUIBB COMPANY)
- Others

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

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Regional Analysis:

Robust Development of Advanced Prescription Drugs to Boost Market

North America generated a revenue of USD 396.58 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the growing development of advanced prescription drugs to cater to the demand of the consumers. The rising prevalence of chronic diseases will boost business in the region. Moreover, the rising R&D and high healthcare expenditure will contribute positively to the market growth. The market in Asia Pacific is likely to exhibit a high growth rate during the forecast period owing to the growing awareness regarding chronic disorders. In addition, the presence of eminent players will positively impact the market in Asia Pacific. The market in Europe is predicted to grow rapidly in the forthcoming years owing to rising demand for advanced prescription drugs. The increasing product launches for orphan disease by key players will bolster healthy growth of the market in the forthcoming years.

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Competitive Landscape:

Grant for Oxbryta by FDA to Accelerate Growth

The U.S. Food and Drug Administration announced that it has granted the approval to Oxbryta (voxelotor) for the treatment of sickle cell disease (SCD) in adults and pediatric patients 12 years of age and older. The growing incidence of sickle disease will spur demand for Oxbryta, which, in turn, will boost the global prescription drugs market growth. Sickle cell disease can be classified as lifelong, inherited blood disorder. The red blood cells are unusually shaped, thus restricting the flow in blood vessels and limits oxygen delivery to the body's tissues and leading to acute pain and critical damage. Furthermore, FDA Commissioner Adm. Brett P. Giroir, M.D., said in a statement, "Our scientific investments have brought us to a point where we have many more tools available in the battle against sickle cell disease, which presents daily challenges for those living with it. We remain committed to raising the profile of this disease as a public health priority and to approving new therapies that are proven to be safe and effective.

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Detailed Table of Content:

1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Prevalence of Key Diseases - by Key Countries – 2018
4.2. Pipeline Analysis
4.3. Key Industry Developments
4.4. Regulatory Scenario - by Key Regions
4.5. New Product Approvals
5. Global Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Product Type
5.2.1. Generics
5.2.2. Orphan
5.2.3. Other Prescription Drugs
5.3. Market Analysis, Insights and Forecast – By Therapy
5.3.1. Oncology
5.3.2. Anti-diabetics
5.3.3. Vaccines
5.3.4. Sensory Organs
5.3.5. Immunosuppressants
5.3.6. Anticoagulants
5.3.7. Others
5.4. Market Analysis, Insights and Forecast – By Distribution Channel
5.4.1. Hospital Pharmacies
5.4.2. Retail Pharmacies & Drug Stores
5.4.3. Online Pharmacies
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.2. Europe
5.5.3. Asia Pacific
5.5.4. Latin America
5.5.5. Middle East & Africa
6. North America Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Analysis – By Product Type
6.2.1. Generics
6.2.2. Orphan
6.2.3. Other Prescription Drugs
6.3. Market Analysis – By Therapy
6.3.1. Oncology
6.3.2. Anti-diabetics
6.3.3. Vaccines
6.3.4. Sensory Organs
6.3.5. Immunosuppressants
6.3.6. Anticoagulants
6.3.7. Others
6.4. Market Analysis – By Distribution Channel
6.4.1. Hospital Pharmacies
6.4.2. Retail Pharmacies & Drug Stores
6.4.3. Online Pharmacies
6.5. Market Analysis – By Country
6.5.1. U.S.
6.5.2. Canada
7. Europe Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Analysis – By Product Type
7.2.1. Generics
7.2.2. Orphan
7.2.3. Other Prescription Drugs
7.3. Market Analysis – By Therapy
7.3.1. Oncology
7.3.2. Anti-diabetics
7.3.3. Vaccines
7.3.4. Sensory Organs
7.3.5. Immunosuppressants
7.3.6. Anticoagulants
7.3.7. Others
7.4. Market Analysis – By Distribution Channel
7.4.1. Hospital Pharmacies
7.4.2. Retail Pharmacies & Drug Stores
7.4.3. Online Pharmacies
7.5. Market Analysis – By Country/ sub-region
7.5.1. U.K.
7.5.2. Germany
7.5.3. France
7.5.4. Spain
7.5.5. Italy
7.5.6. Scandinavia
7.5.7. Rest of Europe
8. Asia pacific Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings / Summary
8.2. Market Analysis – By Product Type
8.2.1. Generics
8.2.2. Orphan
8.2.3. Other Prescription Drugs
8.3. Market Analysis – By Therapy
8.3.1. Oncology
8.3.2. Anti-diabetics
8.3.3. Vaccines
8.3.4. Sensory Organs
8.3.5. Immunosuppressants
8.3.6. Anticoagulants
8.3.7. Others
8.4. Market Analysis – By Distribution Channel
8.4.1. Hospital Pharmacies
8.4.2. Retail Pharmacies & Drug Stores
8.4.3. Online Pharmacies
8.5. Market Analysis – By Country/ sub-region
8.5.1. Japan
8.5.2. China
8.5.3. India
8.5.4. Australia
8.5.5. Southeast Asia
8.5.6. Rest of Asia Pacific
9. Latin America Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
9.1. Key Findings / Summary
9.2. Market Analysis – By Product Type
9.2.1. Generics
9.2.2. Orphan
9.2.3. Other Prescription Drugs
9.3. Market Analysis – By Therapy
9.3.1. Oncology
9.3.2. Anti-diabetics
9.3.3. Vaccines
9.3.4. Sensory Organs
9.3.5. Immunosuppressants
9.3.6. Anticoagulants
9.3.7. Others
9.4. Market Analysis – By Distribution Channel
9.4.1. Hospital Pharmacies
9.4.2. Retail Pharmacies & Drug Stores
9.4.3. Online Pharmacies
9.5. Market Analysis – By Country/ sub-region
9.5.1. Brazil
9.5.2. Mexico
9.5.3. Rest of Latin America
10. Middle East & Africa Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
10.1. Key Findings / Summary
10.2. Market Analysis – By Product Type
10.2.1. Generics
10.2.2. Orphan
10.2.3. Other Prescription Drugs
10.3. Market Analysis – By Therapy
10.3.1. Oncology
10.3.2. Anti-diabetics
10.3.3. Vaccines
10.3.4. Sensory Organs
10.3.5. Immunosuppressants
10.3.6. Anticoagulants
10.3.7. Others
10.4. Market Analysis – By Distribution Channel
10.4.1. Hospital Pharmacies
10.4.2. Retail Pharmacies & Drug Stores
10.4.3. Online Pharmacies
10.5. Market Analysis – By Country/ sub-region
10.5.1. GCC Countries
10.5.2. South Africa
10.5.3. Rest of Middle East & Africa
Continued...