Pharmaceutical drugs are substances used to prevent, treat or cure diseases or ailments, or to alleviate their symptoms. Pharmaceutical companies produce pharmaceutical drugs made from active pharmaceutical ingredients (API) and excipients.
The pharmaceutical drug market consists of sales of pharmaceutical drugs by entities (organizations, sole traders and partnerships) that produce and sell pharmaceutical drugs or biologics 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 was valued at $1,163.14 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.00%.
High Healthcare Awareness
During the historic period, the high healthcare awareness supported the growth of the pharmaceutical drugs market. As awareness of the importance of maintaining good health and preventing diseases grew, demand for preventive medications, including vaccines and supplements, rose. This shift in consumer mindset drove the increased use of pharmaceutical drugs for disease prevention. For example, in Australia, according to the Australian Bureau Of Statistics, the independent statutory agency of the Australian Government, in comparison to 2020-21, more people used health services in 2021-2022, people visited a GP (general practitioner) (83.6% versus 82.4%), visited a dentist (49.4% as opposed to 47.9%), visited a doctor (38.9% as opposed to 37.4%), visited an emergency department (ED) at a hospital (14.8% as opposed to 13.4%). Therefore, the high healthcare awareness boosted the demand for drugs and medicines and this drove the pharmaceutical drugs market during the historic period.
Investments In Injectable And Biologics Manufacturing Facilities To Boost Pharmaceutical Drug Production
Companies in the pharmaceutical drugs market are investing in injectable and biologics manufacturing facilities to boost pharmaceutical drug production. For instance, in August 2024, Vivint Pharma, an India-based pharmaceutical company that provides pharmaceutical drugs, has announced a substantial investment of approximately $48.2 million (INR 400 million) to establish a new injectable manufacturing facility in Genome Valley, Hyderabad, India. This facility is expected to create around 1,000 jobs and will focus on producing high-quality injectable drugs, particularly in oncology and critical care, serving both domestic and international markets. This investment builds on Vivint Pharma's prior commitment of $8.4 million (INR 70 million) for its research and development center in the same region. The company has acquired 5.5 acres of land for this project, which aims to enhance the pharmaceutical manufacturing capabilities of the area. Additionally, in January 2024, AbbVie, a US-based pharmaceutical company that provides pharmaceutical drugs, has announced a substantial investment of $223 million to expand its biologics manufacturing facility in Singapore. This expansion aims to increase the plant's capacity by adding 24,000 liters of biologics drug substance capacity, thereby supporting AbbVie's growing pipeline of treatments for conditions such as immunology and oncology.
The global pharmaceutical drugs market is concentrated, with large players operating in the market. The top ten competitors in the market made up to 30.31% of the total market in 2023.
Pharmaceutical Drugs Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global pharmaceutical drugs market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for pharmaceutical drugs? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The pharmaceutical drugs market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider pharmaceutical drugs market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by distribution channel, by route of administration, by drug classification and by mode of purchase.
Product Analysis The product analysis section of the report describes the leading products in the pharmaceutical drugs market, along with key features and differentiators for those products.
Supply Chain The supply chain section of the report defines and explains the key players in the pharmaceutical drugs industry supply chain.
Customer Information The chapter covers recent customer trends/preferences in the global pharmaceutical drugs market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the pharmaceutical drugs market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by distribution channel, by route of administration, by drug classification and by mode of purchase in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for pharmaceutical drugs providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Cardiovascular Drugs; Dermatology Drugs; Gastrointestinal Drugs; Genito-Urinary Drugs; Hematology Drugs; Anti-Infective Drugs; Metabolic Disorder Drugs; Musculoskeletal Disorder Drugs; Central Nervous System Drugs; Oncology Drugs; Ophthalmology Drugs; Respiratory Disease Drugs; Vaccine; Therapeutic Nutrients And Minerals
- a) Cardiovascular Drugs Type: Anti-Hypertensive Drugs; Hypolipidemics; Anti-Thrombotic; Angina Pectoris; Congestive Heart Failure; Other Cardiovascular Drugs
- b) Dermatology Drugs Type: Acne Drugs; Dermatitis Drugs; Psoriasis Drugs; Other Drugs For Dermatology Diseases
- c) Gastrointestinal Drugs Type: Antacids; Antiulcerants; Antiemetics And Antinauseants; Antidiarrheals
- d) Genito-Urinary Drugs Type: Hormonal Contraceptives; Drugs For Benign Prostatic Hypertrophy, Drugs For Infertility; Drugs For Erectile Dysfunction; Drugs For Urinary Incontinence And Overactive Bladder; Drugs For Infections And Others; Drugs For Hormonal Replacement Therapy; Diuretics
- e) Hematology Drugs Type: Blood Products And Anemia; Other Blood Disorder Drugs
- f) Anti-Infective Drugs: Type: Antibiotics; Antivirals; Antifungals; Others (Anthelminthic, Antiprotozoal)
- g) Metabolic Disorders Drugs Type: Anti-Diabetic Drugs; Anti-Thyroid Drugs; Anti-Obesity; Others
- h) Musculoskeletal Disorders Type: Drugs For Rheumatoid Arthritis; Muscle Relaxants; Other Musculoskeletal Disorders Drugs
- i) Central Nervous System Drugs Type: Analgesics; Anti-Parkinson Drugs; Anesthetics; Anti-Epileptics; Alzheimer; Other CNS Drugs
- j) Oncology Drugs Type: Lung Cancer Drugs; Pancreatic Cancer Drugs; Breast Cancer Drugs; Prostate Cancer Drugs; Ovarian Cancer Drugs; Colorectal Cancer Drugs; Gastric Cancer Drugs; Kidney Cancer Drugs; Brain Tumor Drugs; Thyroid Cancer Drugs; Skin Cancer Drugs; Bladder Cancer Drugs; Cervical Cancer Drugs; Hematopoietic Cancer Drugs; Others
- k) Ophthalmology Drugs Type: Antiglaucoma Drugs; Dry Eye Medication; Other Ophthalmology Drugs
- l) Respiratory Diseases Drugs Type: Anti-Asthmatics And COPD Drugs; Cough And Cold Preparations
- m) Vaccine Market Is Type: Therapeutic Vaccines; Preventive Vaccines
n) Therapeutic Nutrients And Minerals Type: Electrolytes; Minerals And Vitamins
- 2) By Route Of Administration: Oral; Parenteral; Other Route Of Administration
- 3) By Drug Classification: Branded Drugs; Generic Drugs
- 4) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies/ Drug Stores; Other Distribution Channels
- Companies Mentioned: Pfizer Inc.; Johnson & Johnson; AbbVie Inc.; Merck & Co., Inc.; F. Hoffmann-La Roche AG
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; pharmaceutical drugs indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.