Chicago, IL -- (SBWIRE) -- 09/26/2016 -- According to the report, "Global Prescription Pharmaceuticals Market (2013-2020)", the market for prescription pharmaceuticals is expected to become worth USD 918.74 billion by the year 2020.

Prescription Pharmaceuticals Market worth USD 761.85 Billion in 2016 and Expected to Reach USD 918.74 Billion by 2020, at a CAGR of 4.8% between 2016 and 2020

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Rise in aging population and demand from emerging markets to be the key drivers

According to the report, improved life expectancies resulting into increased number of the aging population are some of the major driving factors for this market. The prescription pharmaceuticals market report expects steady growth for the global key players due to growing prevalence of chronic diseases and rising affluence in the emerging markets are expected to be the key drivers for the market. The report highlights changing the structure of long-term healthcare programs, which is contributing to the growth of legal medical prescriptions and increasing demand for the prescription medicine. The overall rise in the average age, population explosion and rising cost of chronic disease management are expected to increase the demand in the market on a global scale. However, growth in biosimilar products and changing government policies are expected to restrain the market growth.

Capsules to remain the fastest-growing formulation segment

According to the prescription pharmaceuticals market report, both therapeutics and formulation segments are expected to witness a rise in demand during the forecast period. The capsules segment is expected to continue its high growth rate by the end of 2020. In terms of geographic regions, Asia-Pacific is expected to be the fastest-growing segment due to growing income level and consumer wealth, consumer awareness, and government initiatives. Rising investments in this segment are also expected to be a major contributing factor for the market. North America is expected to maintain largest prescription pharmaceuticals market share with steady growth in demand during the forecast period.

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The key players highlighted in the prescription pharmaceuticals market report include AstraZeneca plc, Bayer AG, F. Hoffmann-La Roche AG, Gilead Sciences, Inc., GlaxoSmithKline plc, Johnson & Johnson, Merck & Co, Novartis A.G., Pfizer Inc., Sanofi, and such others.

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