Pharmaceuticals - G20

In 2024, the projected revenue in the Pharmaceuticals market is estimated to reach a staggering US$1,080.00bn.
Among all the markets, the Oncology Drugs market is expected to dominate with a projected market volume of US$182.10bn in the same year.
Looking ahead, the market is anticipated to experience a steady annual growth rate of 4.76% (CAGR 2024-2029), resulting in a market volume of US$1,363.00bn by 2029.
When comparing global markets, it is worth noting that United States is poised to generate the highest revenue, with an estimated US$630.30bn in 2024.
This highlights the significance of the pharmaceutical industry within the G20 country.
In the pharmaceutical market, India's robust generic drug industry is driving down costs and increasing access to affordable medications.

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 G20 countries has been experiencing steady growth in recent years, driven by increasing demand for healthcare and rising geriatric population.

Customer preferences: Customers in G20 countries are increasingly seeking personalized healthcare solutions, which has led to a rise in demand for specialized medicines and therapies. Additionally, there is a growing preference for generic drugs due to their affordability and accessibility.

Trends in the market: In the United States, the world's largest pharmaceutical market, the rise of biologics and biosimilars has been a key trend in recent years, with several blockbuster drugs losing patent protection. In Japan, the market is dominated by patented drugs due to strict regulations on generics. China, the world's second-largest pharmaceutical market, has been experiencing rapid growth due to increasing government support for healthcare and rising middle-class population. In India, the market is driven by the production and export of generic drugs.

Local special circumstances: In Brazil, the pharmaceutical market is heavily regulated and dominated by domestic companies, with limited foreign competition. In Saudi Arabia, the market is heavily reliant on imports due to limited local production capabilities. In Russia, the market is dominated by state-owned enterprises, with limited private sector involvement.

Underlying macroeconomic factors: The pharmaceutical market in G20 countries is influenced by several macroeconomic factors, including government healthcare policies, patent laws, and population demographics. Increasing healthcare spending and rising demand for innovative therapies are expected to drive market growth in the coming years. However, increasing pricing pressures and regulatory challenges may pose a threat to market growth.

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.