Pharmerging Market Size, Share, Demand | CAGR Of 8.73%
shradha shinde
Brand Builder at Precedence Research | Towards Healthcare | Towards Packaging | Nova One Advisor
According to Nova One Advisor, the global Pharmerging market size is expected to be worth around USD 4.13 trillion by 2033 from USD 1.79 trillion in 2023, growing at a Compound Annual Growth Rate (CAGR) of 8.73 % during the forecast period from 2024 to 2033.this market is expected to grow due to the increasing geriatric population, increasing disease burden of chronic disorders, and increasing healthcare expenditure.
According to the United Nations (UN), the number of people above the age of 60 years is estimated to be 901 million in 2015. The increasing geriatric population boosts the demand for better treatment options for chronic diseases such as hyperlipidemia, hypertension, cancer, dementia, congestive heart failure. According to a study conducted by Deloitte in 2011, the geriatric population accounts for almost 23.0-40.0% of the prescription drug market, and 40.0-50.0% of the OTC drug market. Another driving factor for the pharmerging market is increasing healthcare expenditure.
The increasing disease burden of chronic diseases in developing countries is boosting growth in the market. According to the Global Health Observatory data, in 2015, 70.0% of the deaths were due to non-communicable diseases (NCD). The major NCDs are cardiovascular diseases (CVD) which caused 45.0% of all NCD deaths, cancer which caused 22.0% of all NCD deaths and chronic obstructive pulmonary disease (COPD) which causes 10.0% of all NCD deaths, and diabetes which caused 4.0% of all NCD deaths.
Full Report is Ready | Ask here for Sample Copy@? https://www.novaoneadvisor.com/report/sample/8890
Pharmerging Market Key Takeaways
Immediate Delivery Available, Get Full Access@ ?https://www.novaoneadvisor.com/report/checkout/8890
Regional Insights
The North America pharmerging market dominated the global market and accounted for the largest revenue share of 43.09%. This growth is attributed to the rise in healthcare spending and the expansion of private hospitals, which are driving the development of the worldwide healthcare market. In addition, the prevalence of chronic illnesses among individuals and the rising awareness of early disease detection and treatment methods fuel market growth. Furthermore, the elderly population in various nations is highly susceptible to severe medical issues such as heart failure, dementia, and high blood pressure. These age-related ailments are driving the demand for pharmaceuticals.
U. S. Pharmerging Market Trends
The pharmerging market in the U.S. dominatedthe North America market with a revenue share of 88.7%. This growth is driven by the increasing demand for pharmaceuticals, the aging population, and the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer in pharmerging markets, enhanced healthcare access, and expanding government efforts.
Europe Pharmerging Market Trends
Europe pharmerging market is expected to experience substantial growth in the pharmerging market due to the prevalence of different diseases on the rise, leading to a growing interest in cutting-edge and superior outcomes. This trend is expected to drive substantial growth in the market in the near future.
The pharmerging market in the UK is expected to grow substantially owing to the rise in non-communicable diseases, increasing population, expanding healthcare industry, rising incomes, escalating government spending on healthcare, international collaborations, and ongoing innovation are key factors driving the growth of this market. Ongoing advancements in medical treatments for various conditions are projected to propel the pharmerging market forward in the coming years.
Asia Pacific Pharmerging Market Trends
The Asia Pacific pharmerging market is expected to grow with a CAGR of 4.2% over the forecast period. The region has grown in the pharmerging market and is now in the eye of the global pharmaceutical industry, driving betterment, progress, innovation, and development in the healthcare sector.
China pharmerging market led the Asia pacific market and accounted for the significant share in 2023. This growth is driven by patent expiration, urbanization, and government investments, offering numerous opportunities in the pharmerging market. With the entry of critical companies and increasing demand for generic therapy, the market is expected to experience significant growth. Additionally, China's healthcare systems are promoting generic medications to reduce costs, transitioning towards raising awareness about generic therapies through private-public partnerships, leading to recent developments in the pharmerging market.
The pharmerging market in India is driven by rising awareness of diseases and their timely treatment to minimize harm in the future, increasing demand for generic drugs, healthcare spending, and initiatives led by the government to develop the healthcare industry. Furthermore, increased awareness about insurance policies and the key companies offering a wide range of product portfolios is expected to fuel the region’s growth.
Pharmerging Market Company Insights
Some of the key companies in the pharmerging market include Sanofi, Pfizer Inc., AstraZeneca, GlaxoSmithKline, F. Hoffmann-La Roche Ltd., GE Healthcare, Eli Lilly and Company, Medtronic, Abbott, Johnson and Johnson market are focusing on development & to gain a competitive edge in the industry. Therefore, key players are taking several strategic initiatives.
Key Pharmerging Companies:
The following are the leading companies in the pharmerging market. These companies collectively hold the largest market share and dictate industry trends.
Pharmerging Market Recent Developments
In May 2024, Sanofi collaborated with OpenAI and Formation Bio to create AI-powered software to speed up drug development and effectively bring new medicines to patients. The teams are expected to combine databases, software, and regulated models to grow purpose-built and custom solutions replacements across the drug development lifecycle.
In March 2024, AstraZeneca acquired Fusion Pharmaceuticals, a clinical-stage company developing next-generation radioconjugates for cancer treatment. The deal I expected to expand AstraZeneca's oncology portfolio and bring new expertise in actinium-based radioconjugates.
领英推荐
Pharmerging Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Pharmerging market.
By Product?
By Economy?
By Indication?
By Distribution Channel
By Region
Reasons to Purchase this Report
? Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
? Provision of market value (USD Billion) data for each segment and sub-segment
? Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
? Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
? Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
? Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
? The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
? Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
? Provides insight into the market through Value Chain
? Market dynamics scenario, along with growth opportunities of the market in the years to come
? 6-month post-sales analyst support
Immediate Delivery Available | Buy This Premium Research ??https://www.novaoneadvisor.com/report/checkout/8890
Call: USA: +1 650 460 3308 | IND: +91 87933 22019 |Europe: +44 2080772818
Email: [email protected]
You can place an order or ask any questions, please feel free to contact at?[email protected] ?| +1 650 460 3308
Digital Marketing Specialist | Social Media Manager
5 个月Insightful!