Global Pharmaceutical Market Report 2022
The global pharmaceutical medicines market is predicted to increase at a compound annual growth rate (CAGR) of 5.6 percent from $ 1,075.97 billion in 2021 to $1,136.23 billion in 2022. The excessive increase is primarily due to businesses reemphasizing their operations and rehabilitating from the effects of COVID-19. If everything continues at this speed then at a CAGR of 9.5 percent, the market is estimated to reach $1,635.128 billion in 2026.
The pharmaceutical drug market is made up of businesses
(organizations, single traders, and partnerships) that manufacture and sell
pharmaceutical medications used to treat a variety of disorders & diseases.
This industry includes companies that make drugs like cardiovascular drugs,
gastrointestinal drugs, genito-urinary drugs, hematology drugs, and other drugs
that are used to treat cardiovascular diseases, rare genetic disorders,
infections, metabolic disorders, cancers, and respiratory diseases, among other
things.
In 2021, the prescription drugs market in North America was
the largest. During the forecast period, the Middle East is expected to be the
fastest expanding area. Asia-Pacific, Western Europe, Eastern Europe, North
America, South America, the Middle East, and Africa are the regions covered in
this research.
The global illness profile is being influenced by the rise
in sedentary jobs, busy lifestyles, and changing consumer tastes. Non-communicable
diseases, such as cancer, diabetes, and cardiovascular disease, are highly
prevalent. Chronic diseases such as diabetes are caused by long working hours,
lack of physical activity, and bad eating and drinking habits.
Bristol-Myers Squibb, Sanofi S.A, Johnson & Johnson,
Novartis AG, Bayer AG, Abbott Laboratories, GlaxoSmithKline, AstraZeneca, Merck
& Co., and CJ Corp. are all major players in the pharmaceutical medicines
market.
Chronic disease prevalence increased by 57 percent globally
in 2020, according to the World Health Organization. In 2019, China and India
had a combined total of 193.4 million diabetic patients, with India's diabetic
population predicted to rise to 101 million by 2030, hence the demand for
biologics medications for diabetic patients will increase.
These factors are expected to increase the patient pool
globally, thereby driving the pharmaceutical drugs market during the forecast
period.
During the projected period, interest rates are expected to
rise in most developing and developed economies, which would constrain new
investments in the market. Most countries around the world are hiking interest
rates to keep inflation under control while also limiting capital outflows.
This is expected to have an impact on new investments in
terms of expansion, research, and product development. For example, by 2021,
interest rates in the United States have risen to 3.5 percent. These variables
are predicted to have a negative influence on the market since borrowing money
will become more expensive, limiting the growth of the pharmaceutical sector.
By 2026, the glass
segment will be worth $25 billion.
Because of its inert nature, glass is a popular material for
pharmaceutical packaging. The market for glass packaging material is likely to
remain in high demand, owing to the growing availability and production of
environment-sensitive prescription medications. The global Glass segment is
expected to grow at a 7.7% CAGR, with the United States, Canada, Japan, China,
and Europe leading the way. By the end of the analysis period, these regional
markets, with a combined market value of US$11.7 billion, will have grown to
US$19.7 billion. In this cluster of regional markets, China will continue to be
one of the fastest-growing countries.
Pharmaceutical
Packaging: Companies Should Think About Sustainable Packaging
The harmful effects of plastic landfills, environmental
degradation, and climate change have sparked a surge in interest in
environmentally friendly packaging. The pharmaceutical sector has taken
attempts to limit the usage of plastic packaging through creative and
technological innovation. Packaging in the pharmaceutical industry is designed
for both aesthetic and utilitarian functions, such as extending expiry dates,
protecting against sunlight, and presenting taper evidence. Because of these
characteristics, replacing plastic with sustainable materials is difficult
because they may not safeguard the product. Plastic is also long-lasting,
simple to make, and inexpensive.
Pharma businesses have also begun to explore packaging
solutions using 3D modeling and 3D printing technology. This lowers waste in
packaging design and makes the production process more sustainable and
efficient. Instead of plastic, the pharmaceutical sector is considering utilizing
environmentally friendly materials that may be made, collected, or sourced with
minimal environmental impact and can be reused and recycled.
Visit our website for the upcoming pharmaceutical conference 2022 for more details.
Reach out to us:
Mail: pharmaceuticals@universeconferences.net| info@utilitarianconferences.com
WhatsApp: +442033222718
Call: +12076890407
Reference pharmaceutical UCGconferences press releases and blogs
On the 4th of March, 2022— The research "Pharmaceutical Drugs Global Market Report 2022" has been released by Reportlinker.com. ttps://www.reportlinker.com/p05308970/?utm_source=GNW
.png)
Comments
Post a Comment