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Key regions: United States, China, Germany, Japan, Europe
The global Pharmaceuticals market has been growing steadily over the years, and the G7 countries have been at the forefront of this growth.
Customer preferences: Customers in the G7 countries have been increasingly demanding personalized healthcare solutions. They are looking for drugs that are tailored to their specific needs and are more effective in treating their illnesses. This has led to an increase in the development of specialized drugs and personalized medicine.
Trends in the market: The Pharmaceuticals market in the G7 countries has been witnessing a shift towards specialty drugs. Specialty drugs are high-cost drugs that are used to treat complex and chronic medical conditions such as cancer, autoimmune diseases, and rare genetic disorders. The demand for these drugs has been increasing due to the rise in the prevalence of these diseases.Another trend in the Pharmaceuticals market in the G7 countries is the growing focus on research and development. The pharmaceutical companies are investing heavily in R&D to develop new drugs and treatments. This has led to the development of innovative drugs that are more effective in treating diseases and have fewer side effects.
Local special circumstances: The Pharmaceuticals market in each of the G7 countries has its own unique characteristics. For example, in the US, the market is heavily regulated by the FDA, which has a significant impact on the development and approval of new drugs. In Japan, the market is dominated by domestic companies, and there is a strong focus on the development of generic drugs.
Underlying macroeconomic factors: The growth of the Pharmaceuticals market in the G7 countries is driven by several macroeconomic factors. These include the aging population, the rise in chronic diseases, and the increasing healthcare expenditure. The aging population has led to an increase in the prevalence of chronic diseases such as cancer and diabetes, which has in turn led to an increase in the demand for drugs.In conclusion, the Pharmaceuticals market in the G7 countries is witnessing a shift towards specialty drugs, a growing focus on research and development, and a demand for personalized healthcare solutions. The market in each country has its own unique characteristics, and the growth is driven by macroeconomic factors such as the aging population and the rise in chronic diseases.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)