Top 10 global pharmaceutical companies by revenue 2022
A global view on the industry
The total global pharmaceutical market exceeded 1.4 trillion U.S. dollars in 2021. North America remains the strongest regional market worldwide, responsible for nearly half of the global market size. The largest national pharmaceutical market is the United States, making up almost half of global medicine spending. Thus, five of the ten largest pharmaceutical companies worldwide were from the United States in 2021 and 2022. One reason for this is that the U.S. is still the world’s largest hub for life sciences and medical research and knowledge.
The importance of innovation
Pharmaceutical companies are to a very large part – more than in most other industries – driven by the imperative to produce innovative products and to invest in research and development. Once a new drug, for example, is launched, the clock is already ticking towards the loss of patent protection. In particular, companies that depend on a small number of blockbuster drugs, are under threat of heavy revenue loss. Two effects of patent expirations for the pharma industry are high R&D concentration and a growing focus on specialty drugs.