Prescription Drugs Market Growing to Exhibit a Remarkable Growth of USD 1,482.35 Billion with Analysis of Key Drivers, Size, Share, Growth and Opportunities by 2029
WASHINGTON, Aug. 11, 2022 /PRNewswire/ -- Data Bridge Market research has recently issued comprehensive industry research on 'Global Prescription Drugs Market' which includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The persuasive Prescription Drugs Market report helps to better situate the company within the market by applying the knowledge gained from marketing research to build competitive intelligence, and formulate & maintain revenue-generating business strategies. It has carefully compiled information pertinent to the company so that business can focus on the correct market segments, and prepare for further market developments and fluctuations. With this marketing report, receive elucidation regarding business initiatives that include proprietary company research, consumer data, and superior data-driven strategies. The most engaging Prescription Drugs market analysis report helps to avoid market and investment risks that can comprehensively map and profile competitors as well as the macroeconomic environment.
Data Bridge Market Research analyses that the prescription drugs market was valued at USD 1,015.63 billion in 2021 and is expected to reach USD 1,482.35 billion by 2029, registering a CAGR of 4.84% during the forecast period of 2022 to 2029.
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Prescription Drugs Market Scenario
Prescription pharmaceuticals are more potent than over-the-counter (OTC) medications. As a result, their misuse may result in serious negative effects. Customers are only given these medications if they have a doctor's prescription. The symbol Rx, which may be found on doctor's prescription notepads and signs in most pharmacies, stands for medical prescription
Prescription medications include a wide range of vaccinations and therapies used to treat and manage chronic and acute diseases. Cancer, cardiovascular diseases, diabetes, and orphan diseases are among these disorders. In current therapeutic situation, proper prescription drug administration is crucial for improving clinical outcomes for practically every patient suffering from significant diseases. Many market companies are conducting clinical studies to develop novel treatments for various disorders; nevertheless, the prescription drug landscape has changed dramatically due to the rising availability of generic equivalents.
The Key Companies Profiled in the Prescription Drugs Market are:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd. (Ireland)
- Sanofi (France)
- Pfizer Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- Merck & Co., Inc. (U.S.)
- Allergan (Ireland)
- AstraZeneca (U.K.)
- Johnson & Johnson Private Limited (U.S.)
- Hikma Pharmaceuticals PLC (U.K.)
- Bristol-Myers Squibb Company (U.S.)
- Bayer AG (Germany)
- Boehringer Ingelheim International GmbH. (Germany)
- Dr. 'Reddy's Laboratories Ltd. (India)
- Gilead Sciences, Inc. (U.S.)
- Amgen Inc. (U.S.)
- Eli Lilly and Company (U.S.)
- AbbVie Inc. (U.S.)
- Lupin (India)
- Allergan (Ireland)
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Opportunities for Players
- Increasing launch of generic equivalents
The increased number of generic versions of several key medications being launched in strong areas such as the United States is driving the global prescription drugs market. The rise in generic equivalent acceptance is partly attributed to the fact that generics are frequently as effective as their original counterparts and may often be accepted by patients for a fraction of the cost. Patients who cannot afford pricey prescription drugs due to financial constraints can often benefit from these drugs and achieve improved clinical outcomes.
Important Facts about This Market Report:-
- This research report reveals this business overview, product overview, market share, demand and supply ratio, supply chain analysis, and import/export details
- The Industry report captivates different approaches and procedures endorsed by the market key players to make crucial business decisions
- This research presents some parameters such as production value, marketing strategy analysis, Distributors/Traders and effect factors are also mentioned
- The historical and current data is provided in the report based on which the future projections are made and the industry analysis is performed
- The import and export details along with consumption value and production capability of every region is mentioned in the report
- Porter's five forces analysis, value chain analysis, SWOT analysis are some additional important parameters used for the analysis of market growth
- The report provides the clients with the facts and figures about the market on the basis of evaluation of the industry through primary and secondary research methodologies
Prescription Drugs Market Scope and Market Size:
The prescription drugs market is segmented on the basis of type, therapy area, route of administration, end-users and distribution channel.
Type
- Branded
- Generic
Therapy Area
- Oncology
- Immunology
- Ophthalmology
- Respiratory
- Dermatology
- Gastroenterology
- Urology
- Gynaecology
- Endocrinology
- Others
Route of Administration
- Oral
- Topical
- Parenteral
- Others
End-Users
- Hospitals
- Specialty Clinics
- Homecare
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
The first class Prescription Drugs market research report has the best research offerings and the required critical information whether businesses are looking for latest product trends or competitive analysis of an existing or emerging market. With this industry report, companies can sharpen their competitive edge again and again. The industry report has expert insights on global industries, products, company profiles, and market trends. Users can gain unlimited, company-wide access to a comprehensive catalog of industry-specific market research from this industry analysis report. The wide-ranging Prescription Drugs business report examines industries at a much higher level than an industry study.
Explore Latest Findings of Prescription Drugs Market Study @ https://www.databridgemarketresearch.com/reports/global-prescription-drugs-market?PNW/11Aug2022
Regional Outlook of Prescription Drugs Market:
- North America (U.S., Canada and Mexico)
- Rest of Europe in Europe (Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain and Turkey)
- Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC) (China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines)
- Rest of Middle East and Africa (MEA) as a part of MEA (Saudi Arabia, U.A.E., South Africa, Egypt and Israel)
- Rest of South America as part of South America (Brazil and Argentina)
The latest industry analysis and survey on Prescription Drugs provides sales outlook in 20+ countries, across key categories. Insights and outlook on Prescription Drugs market drivers, trends, and influencing factors are also included in the study.
Recent Development
In April 2020, Pharma major Lupin Limited had announced the launch of Mycophenolic Acid Delayed-Release Tablets USP, 180 mg and 360 mg. These tablets are prescribed for the prevention of organ rejection in adult kidney transplant recipients and pediatric patients aged 5 and above who have been on dialysis for at least 6 months.
Industry Drivers:-
- Increasing prevalence of cardiovascular diseases
The increased prevalence of cardiovascular diseases will fuel the 'market's growth. According to the CDC, cardiovascular diseases, which include heart and blood vessel abnormalities, are the leading cause of mortality and disability worldwide. High blood pressure, often known as hypertension, is a key risk factor for this disease, which is responsible for an estimated 10 million deaths annually. Several projects, such as the global hearts initiative, are being implemented around the world to improve cardiovascular disease prevention and control. This is to reduce the number of people who die prematurely as a result of heart disease.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of prescription drugs market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
- Increasing prevalence of chronic diseases
The increased prevalence of chronic diseases will fuel industry growth. The rise in cardiovascular disorders is propelling the industry forward. Growing urbanization and the adoption of hazardous living circumstances are two important factors. Chronic diseases include Alzheimer's disease, cardiovascular disease, obesity, and diabetes, to name a few. Rising cancer occurrences are also boosting market expansion throughout the forecast period. According to World Health Organization data from 2018, cancer is the world's second-largest cause of death. In 2018, it was responsible for 9.6 million fatalities. Cancer is also responsible for one out of every six fatalities worldwide. Lung cancer, breast cancer, colorectal cancer, prostate cancer, skin cancer, and stomach cancer are the most frequent cancers. In 2018, the overall number of new cases reached 18.1 million.
Points Covered in Table of Content of Global Prescription Drugs Market:
- Chapter 1: Report Overview
- Chapter 2: Global Market Growth Trends
- Chapter 3: Value Chain of Prescription Drugs Market
- Chapter 4: Players Profiles
- Chapter 5: Global Prescription Drugs Market Analysis by Regions
- Chapter 6: North America Prescription Drugs Market Analysis by Countries
- Chapter 7: Europe Prescription Drugs Market Analysis by Countries
- Chapter 8: Asia-Pacific Prescription Drugs Market Analysis by Countries
- Chapter 9: Middle East and Africa Prescription Drugs Market Analysis by Countries
- Chapter 10: South America Prescription Drugs Market Analysis by Countries
- Chapter 11: Global Prescription Drugs Market Segment by Types
- Chapter 12: Global Prescription Drugs Market Segment by Applications
To Check the Complete Table of Contents, Click here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-prescription-drugs-market&PNW/11Aug2022
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