Pune, Maharashtra -- (SBWIRE) -- 05/11/2018 -- The author of the report analyzed that the global pharmaceutical market accounted for US$ 1350.29 billion in 2017. Chronic conditions such as diabetes, depression, asthma and hypertension are increasing. The companies use FDA-regulated information to inform physicians and patients about new medicines in advance of a prescribing decision. Direct-to-consumer advertising also help in increasing the demand for a particular drug.

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The pharmaceutical industry is engaged in the research, development, manufacture and distribution of drugs for human or veterinary use. Drug therapy is an integral part of every aspect of healthcare. New drugs have an enormous positive influence on global health, economic productivity by saving lives, increasing life spans, reducing suffering, shortening hospital stays and preventing surgeries. The United States attracts the majority of global venture capital investments in start-up companies. It has one of the world's most supportive domestic environments for the commercialization and development of pharmaceuticals with minimal market barriers. U.S. laws allow direct-to-consumer advertising which creates immense demand for specific patented drugs. In terms of revenue, the pharmaceutical market was valued at US$ 1350.29 Bn in 2017 and is expected to reach US$ 1809.09 Bn by 2022.

Digital Health Knowledge Resources, Electronic Medical Record, Mobile Healthcare, Electronic Health Record, Hospital Information System and PRACTO are some of the technologies gaining wide acceptance in the sector. Pharmaceutical market is facing unprecedented challenges caused by slower sales growth, shorter product life cycles, tighter regulations, expiring patents,

Prescription drugs Anticipated to be the Dominant Segment During the Forecast Period, 2018-2026
Among the drug type, prescription drug is a dominant segment holding the largest market share. Existence of government-protected "monopoly" rights for drug manufacturers is driving the prescription drugs. In 2015, the US pharmaceutical industry spent $5.2 billion on advertising prescription drugs directly to consumers.

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Leading role of the U.S. Pharmaceutical industry to drive the Market in North America
This sector is characterized by an extensive Research and Development (R&D) infrastructure and a comprehensive talent pool. It has an appropriate scientific regulatory system, and an advanced environment for fostering investments in new drug discovery and development. In the United States, R&D investments of the companies have grown consistently over the past 15 years.

Pharmaceutical Market is Fragmented with the Presence of Global and Regional Players
Some of the key participants in global market are Abbott, AbbVie Inc., Albemarle Corporation, AstraZeneca, Aurobindo Pharma, Baxter, Bayer AG, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Lupin Pharmaceuticals, Inc, Merck & Co., Inc, Novartis AG, Pfizer, Inc., Sanofi and Teva Pharmaceutical Industries Ltd.

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Pharmaceutical Market – By API Type
Synthetic API
Biotech API

Pharmaceutical Market – By Drug Type
Prescription Drugs
OTC Drugs

Market By Customer Base Type
Generic Drugs
Branded Drugs

Pharmaceutical Market – By Application Type
Oncology
Cardiovascular Disease
Diabetes
Central Nervous System and Neurological Disorders
Endocrinology
Gastrointestinal Disorders
Nephrology
Ophthalmology
Others

Market By Region
North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Market Report Highlights
Full in-depth analysis of the parent market
Important changes in market dynamics
Segmentation details of the market
Former, on-going, and projected market analysis in terms of volume and value
Assessment of niche industry developments
Market share analysis
Key strategies of major players
Emerging segments and regional markets