Pfizer's revenues in global submarkets 2010-2023

Sales from the United States contributed more than 27 billion U.S. dollars towards Pfizer's total revenue of around 58 billion U.S. dollars in 2023.

Pfizer sees strong growth in emerging markets

Pfizer’s total revenue is divided into four geographic areas: the United States, developed Europe, developed rest of the world, and emerging markets. China is one of the company’s largest single markets behind the United States, which contributed 46 percent of Pfizer’s total revenue. Pfizer continues to support investment in emerging markets, but the vulnerable nature of these countries means strategies come with an element of risk due to unforeseen financial or political events, for example.

The power of product patents

Managing the expiration of key patents is one of the biggest challenges facing Pfizer because competition from generic versions can make a big difference to company revenues. Many of Pfizer’s leading products enjoy the security of market exclusivity, but less expensive generic versions are free to enter the market when these property rights end. In 2019, Pfizer anticipated a fall in sales revenue from China due to significant competition from generic versions.