GLOBAL PHARMACEUTICALS MARKET NEWS
Brief
The Global Pharmaceuticals mkt worth approx. $1270 billion in 2021 and growing @1.8 % this year but expected to grow at 7%. from 2022 onwards.
The expected growth due to the rearrangement of operations and recovery from the Covid-19 impact., but still the Omicron scare is in the air, and all companies are expected to rearrange their operation accordingly.
The market is expected to reach a minimum of $1750 billion by 2026 at CAGR of 7%.
North America has king size share in global pharmaceuticals mkt ,is the largest region in the global pharmaceuticals market, accounting for 49% of the total global market, followed by Asia specific accounts for 26% of the total global market.
The rise of the aged population above 65 years of age in most countries, as per the population reference Bureau and due Covid care treatment.
The pharma growth will be remained unaltered due to the new age lifestyle disease like:
- Hypertension and diabetes,
- Cancer,
- Old age rheumatoid arthritis,
increasing the patient pool and demand for Pharmaceuticals.
The largest pharmaceuticals Mkt Globally are as follows:-
- 1st Position: Musculoskeletal drugs (Rheumatoid Arthritis/ Osteoporosis etc drugs)
- 2nd position: Cardiovascular drugs
- 3rd Position: Oncology
- 4th Position: Anti-infective drugs.
In the meantime due Covid -19 the world vaccine mkt is at $38.2 billion and expected to be 55 billion by 2026 at CAGR of 7.6%.
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