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This market research report, titled “Global Pharmaceutical market expert survey report 2017", provides a comprehensive analysis of this market, zeroing on the exceptional dynamics probable to effect the development of the market all over the forecast period. The market subdivisions, noteworthy regional sectors and competitive outlook of the Global Pharmaceutical Market are also mentioned in this research study.Our research study is mainly implement through a mix of both secondary and primary research. Various sources such as industry magazines, trade journals, and government websites and trade associations are reviewed for gathering precise data. Primary interviews are conducted to validate the market size derived from secondary research. Industry experts, major manufacturers and distributors are contacted for further validation purpose on the current market penetration and growth trends.
Prominent participants in our primary research process include:
• Key Opinion Leaders namely the CEOs, CSOs, VPs, purchasing managers, amongst others
• Research and development participants, distributors/suppliers and subject matter experts
Secondary Research includes data extracted from paid data sources:
• Reuters
• Factiva
• Bloomberg
• One Source
• Hoovers
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Industry Trends
The pharmaceutical industry is engaged in the research, development, manufacture and distribution of drugs for human or veterinary use. Drug therapy is an integral part of every aspect of healthcare. New drugs have an enormous positive influence on global health, economic productivity by saving lives, increasing life spans, reducing suffering, shortening hospital stays and preventing surgeries. The United States attracts the majority of global venture capital investments in start-up companies.
It has one of the world’s most supportive domestic environments for the commercialization and development of pharmaceuticals with minimal market barriers. U.S. laws allow direct-to-consumer advertising which creates immense demand for specific patented drugs. In terms of revenue, the pharmaceutical market was valued at US$ 1350.29 Bn in 2017 and is expected to reach US$ 1809.09 Bn by 2022.
Growing segments of the market include biologics and generics. Increase in the size of middle class households coupled with the improvement in medical infrastructure has resulted in the growth of pharmaceuticals sector. With increasing urbanization and concerns related to day to day living in urban settings, about 50 percent spending on in-patient beds is for lifestyle diseases which has increased the demand for specialized care. Increasing competition from generics is a major factor hampering the growth of global pharmaceutical market. However, the implementation of the Goods and Services Tax (GST) is expected to be a game-changer for the industry leading to tax-neutral inter-state transactions between two dealers. It is expected to result in an efficient supply chain management, which is expected to reduce its cost considerably.
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Market by Drug Type
Based on the drug type, the market is segmented into prescription drugs and OTC drugs. Among these, prescription drugs segment is dominating the overall pharmaceutical market. Prescription drug legally requires a medical prescription to be dispensed whereas, over the counter (OTC) drugs can be obtained without a prescription. Increasing patient involvement in the diagnosis and treatment of common ailments is leading to an increase in the use of prescription drug products.
Pharmaceutical Market, by Region
The global market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa and Latin America. North America dominates the market and is anticipated to grow at a considerable rate over the forecast period, where U.S. contributed the highest market share in the overall market. The rising number of ailments has facilitated increased R&D activities by major pharmaceutical companies, which has resulted in tremendous progress of pharmaceutical market in this region.
Competitive Landscape
The report provides both, qualitative and quantitative research of the market, as well as it helps to gain important insights of current and future market and trending technologies adopted by the key players. The report also offers extensive research on the key players in this market and detailed insights on the competitiveness of these players. The key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their manufacturing base, competitors, product type, application and specification, pricing, and gross margin.
Market participants of the pharmaceutical market are Abbott, AbbVie Inc., Albemarle Corporation, AstraZeneca, Aurobindo Pharma, Baxter, Bayer AG, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, Eli Lilly and Company, F. Hoffmann-La Roche Ltd, GlaxoSmithKline plc, Lupin Pharmaceuticals, Inc, Merck & Co., Inc, Novartis AG, Pfizer, Inc., Sanofi and Teva Pharmaceutical Industries Ltd amongst others.
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