World pharmaceutical market: changes in revenue by region 2022
This statistic shows the change in revenue on the global pharmaceutical market in 2022, by region. In that year, the Latin American pharmaceutical market reported an increase of over 16 percent compared to the previous year.
Global pharmaceutical market
During 2022, the pharmaceutical market has experienced the largest growth in Latin America. The North American industry reported around nine percent of increase in market revenue from 2021 to 2022 while the EU’s revenues decreased by 1.7 percent. Emerging markets consist of 24percent of the industry’s market value in 2022 in comparison to only 13 percent in 2006. Countries like China are rapidly reforming the medical industry. China’s five year plan (2011-2015) intended to overhaul the health care system and increase insurance coverage. Government stimulus, increased health awareness, and improved R&D capabilities are expected to drive China’s pharmaceutical industry growth. An increasingly large as well as aging population has also helped to expand the healthcare system. The country generated some 113 billion U.S. dollars in pharmaceutical industry revenue in 2022.
In 2022, the North American pharmaceutical market generated over 650 billion U.S. dollars in revenue while Asia, Africa and Australasia, collectively, accounted for nearly 300 billion dollars in total. As of 2022, the global pharmaceutical market was worth some 1.48 trillion U.S. dollars in market value.
Global pharmaceutical market
During 2022, the pharmaceutical market has experienced the largest growth in Latin America. The North American industry reported around nine percent of increase in market revenue from 2021 to 2022 while the EU’s revenues decreased by 1.7 percent. Emerging markets consist of 24percent of the industry’s market value in 2022 in comparison to only 13 percent in 2006. Countries like China are rapidly reforming the medical industry. China’s five year plan (2011-2015) intended to overhaul the health care system and increase insurance coverage. Government stimulus, increased health awareness, and improved R&D capabilities are expected to drive China’s pharmaceutical industry growth. An increasingly large as well as aging population has also helped to expand the healthcare system. The country generated some 113 billion U.S. dollars in pharmaceutical industry revenue in 2022.
In 2022, the North American pharmaceutical market generated over 650 billion U.S. dollars in revenue while Asia, Africa and Australasia, collectively, accounted for nearly 300 billion dollars in total. As of 2022, the global pharmaceutical market was worth some 1.48 trillion U.S. dollars in market value.
