From GlobeNewswire: 2025-02-26 09:30:00

The Global Pharmaceutical Market was valued at USD 1598 Billion in 2023, projected to reach USD 2845.3 Billion by 2032, growing at a CAGR of 6.6%. Factors include rising demand for innovative therapies, government healthcare efforts, and increased manufacturing capabilities. Major companies like Pfizer, Johnson & Johnson, and Roche are profiled in the report.

The Pharmaceutical Market is segmented by molecule type, product, type, and end market. Conventional drugs lead revenue share at 54%, while branded products dominate at 66%. Prescription drugs hold the largest revenue share at 88%, with hospitals as the main end market at 53%. North America leads in revenue contribution at 45%.

North America’s dominance in the global pharmaceutical market is attributed to advanced healthcare infrastructure, high expenditure, and leading company presence. The U.S. is a key market due to developed healthcare systems, extensive R&D, government policies, and high chronic disease prevalence. CDC statistics show nearly 60% of U.S. adults are affected by chronic diseases. The global pharmaceutical market is projected to grow significantly by 2032, with the Asia-Pacific region leading the way due to urbanization and increased healthcare spending. Pfizer and Roche have recently launched innovative vaccines and drugs, signaling a shift towards advanced therapies. India’s pharmaceutical industry is a major player in the global market, known for exporting generic drugs. SNS Insider offers a detailed Pharmaceutical Market Analysis & Outlook Report for those interested in customized research on this growing industry.



Read more at GlobeNewswire: Global Pharmaceutical Market Size to Worth USD 2845.3