Pharmaceuticals - Americas

Americas

In 2024, the projected revenue in the Pharmaceuticals market in the Americas is estimated to reach a staggering US$695.70bn.
among the various markets within the market, the largest one is Oncology Drugs, which is expected to have a market volume of US$115.00bn in 2024.
Looking ahead, the revenue is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.64%, resulting in a market volume of US$873.00bn by 2029.
It is worth noting that in terms of global comparisons, United States is projected to generate the highest revenue, amounting to US$630.30bn in 2024.
The pharmaceutical market in the United States is experiencing a surge in demand for telehealth services and digital health solutions.

Key regions: United States, China, Germany, Japan, Europe

Definition:
The Pharmaceuticals market covers remedies used to cure, treat, prevent, and diagnose diseases. These small molecule drugs or biologic medical products may be called drugs, medications, or medicines. Prescription drugs and over-the-counter (OTC) drugs are both included. Next generation therapies are also part of the Pharmaceuticals market and include gene therapy, cell therapy, and nucleic acid therapy. Cell therapies involve the use of living cells to replace or repair damaged tissues within the patient's body, or to modify cells to perform specific functions. Gene therapies focus on altering a patient’s genetic material to regulate the production of certain proteins. Nucleic acid therapies use short strands of DNA or RNA to inhibit the production of harmful proteins associated with diseases and promote the generation of therapeutic proteins. Depending on the regulations in each country, these products are provided by pharmacies, hospitals, physicians, and/or drug stores, and/or they can be bought elsewhere. They may be administered in the form of pills, capsules, gels, ointments, injections, infusions, lozenges, or aerosols/sprays.

Structure:
The market is subdivided into Oncology Drugs, Anti-Diabetes Drugs, Anti-Rheumatic Drugs, Vaccines, Dermatological Drugs, Antiviral Drugs, Immunosuppressants, Bronchodilator Drugs, Sensory Organ Drugs, Anti-Hypertensive Drugs, Anti-Coagulants, Anti-Fibrinolytic Drugs, Multiple Sclerosis Drugs, Lipid-Lowering Agents and Other Pharmaceuticals. The Pharmaceuticals market is organized in markets that cover drugs used in specific medical fields, i.e., medicines for a specific disesase or a certain type of medicine. They include original brands, biosimilars, generics, and orphan drugs.The Oncology Drugs market covers pharmaceutical products specifically developed for the treatment and management of various cancers. The Anti-Diabetes Drugs market covers medications designed to manage blood glucose levels and improve insulin sensitivity in individuals with diabetes. The market Anti-Rheumatic Drugs includes pharmaceuticals specifically developed to alleviate symptoms, reduce inflammation, and modify the progression of rheumatic diseases. The Dermatological Drugs market covers pharmaceuticals formulated to treat and manage a wide range of skin conditions such as eczema, acne, and rosacea. The Antiviral Drugs market includes medications designed to treat viral infections and reducing the severity and duration of symptoms. The Immunosuppressants market covers pharmaceuticals that suppress the immune system's activity. The Bronchodilator Drugs market covers pharmaceuticals designed to relax and widen the airways in the lungs. The Sensory Organ Drugs market covers pharmaceuticals targeting the treatment of disorders and conditions affecting sensory organs such as the eyes, ears and nose. The Anti-hypertensive Drugs market covers pharmaceuticals designed to lower blood pressure levels. The Anti-Coagulants Drugs market covers pharmaceuticals developed to prevent the formation of blood clots or to dissolve existing clots. The Anti-Fibrinolytics Drugs market covers pharmaceuticals designed to inhibit the breakdown of blood clots. The Multiple Sclerosis Drugs market covers pharmaceuticals aimed at managing and modifying the course of multiple sclerosis. The Lipid-Lowering Agents market covers pharmaceuticals developed to reduce levels of cholesterol and other lipids in the blood. The Other Pharmaceuticals market provides information on additional specialties that are not covered by the main markets.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novartis, Roche, Pfizer, Merck & Co, Johnson & Johnson, AbbVie, Sanofi.

Market

Region

Region comparison

Currency

Analyst Opinion

The Pharmaceuticals market in Americas is a rapidly growing industry that is expected to continue its growth in the coming years.

Customer preferences: Customers in the Americas region are increasingly demanding high-quality and affordable pharmaceutical products. They are seeking products that are not only effective but also safe to use. The demand for personalized medicine is also on the rise, as customers seek treatments that are tailored to their specific needs.

Trends in the market: In the United States, the largest pharmaceutical market in the Americas, the market is being driven by the increasing prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases. The market is also seeing a rise in the demand for biologics and biosimilars, which are used to treat a variety of diseases including cancer and autoimmune disorders. In Canada, the pharmaceutical market is being driven by the aging population and the increasing prevalence of chronic diseases. The market is also seeing a rise in the demand for generic drugs, which are more affordable than branded drugs. In Mexico, the pharmaceutical market is being driven by the increasing demand for over-the-counter (OTC) drugs and the rising prevalence of chronic diseases.

Local special circumstances: In Brazil, the largest pharmaceutical market in Latin America, the market is heavily regulated by the government. The government has implemented policies to promote the use of generic drugs, which has led to a rise in the demand for these products. In Argentina, the pharmaceutical market is facing challenges due to the economic crisis in the country. The devaluation of the currency has made it difficult for companies to import raw materials and finished products. In Colombia, the pharmaceutical market is being driven by the increasing demand for OTC drugs and the rising prevalence of chronic diseases.

Underlying macroeconomic factors: The pharmaceutical market in the Americas is being driven by several underlying macroeconomic factors, including population growth, increasing life expectancy, and rising healthcare expenditures. The increasing prevalence of chronic diseases is also contributing to the growth of the market. The growth of the pharmaceutical market is also being driven by technological advancements in drug development and manufacturing. The rise of personalized medicine and the increasing demand for biologics and biosimilars are also contributing to the growth of the market. The pharmaceutical market in the Americas is expected to continue its growth in the coming years, driven by these underlying macroeconomic factors.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.