Global Pharmaceutical industry to reach $1.5 Trillion by 2023

reogma|Global Pharmaceutical industry to reach $1.5 Trillion by 2023

The global market for pharmaceuticals reached USD 1.25 trillion in 2019, up 4.5% from 2018. Going forward, the global market will grow by 4-5% CAGR, reaching USD 1.5 trillion by 2023.

North America is expected to retain the leading position in the global pharmaceuticals market with market share of 45.33% in.

  • Definition / Scope
  • Market Overview
  • Market Risks
  • Top Market Opportunities
  • Market Trends
  • Industry Challenges
  • Technology Trends
  • Pricing Trends
  • Other Key Market Trends
  • Market Size and Forecast
  • Market Outlook
  • Distribution Chain Analysis
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References

Definition / Scope

Pharmaceuticals (biopharma, drug, medicine) are defined as any substance intended for use in the diagnosis, cure, mitigation, treatment or prevention of disease or any substance (other than food) intended to affect the structure or function of the body. Drugs are produced in forms such as pills, tablets, capsules, etc.

Generic drugs are copies of innovative pharmaceuticals that contain the same active ingredients and are identical in strength, dosage form and route of administration and are comparatively cheaper than the innovative ones.

On the other hand, Branded medicines are medicines which have a name given to them by a company for the purpose of advertising and such name may differ from the generic names.

Pharmaceuticals typically use chemical-based compounds. However, Biologics (biotech drugs, biological drugs, biopharmaceuticals) include a wide range of products such as vaccines, therapeutic proteins, blood and blood components, tissues, etc that are manufactured in living organisms like bacteria, yeast, and mammalian cells.

Biosimilars (follow-on biologics) are versions of biologic products that reference the originator product in applications submitted for marketing approval to a regulatory body. 


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The global market for pharmaceuticals reached USD 1.25 trillion in 2019, up 4.5% from 2018. Going forward, the global market will grow by 4-5% CAGR, reaching USD 1.5 trillion by 2023. North America is expected to retain the leading position in the global pharmaceuticals market with market share of 45.33% in. Definition […]
reogma|Global Pharmaceutical industry to reach $1.5 Trillion by 2023reogma|Global Pharmaceutical industry to reach $1.5 Trillion by 2023

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