The global prescription drugs market size is predicted to reach USD 1,562.15 billion by 2026, exhibiting a CAGR of 8.9% during the forecast period. The increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases and diabetes will spur sales opportunities for the prescription drugs market revenue during the forecast period. The growing cases of orphan diseases will also have a tremendous impact on the prescription drugs market share. Nonetheless, the ongoing clinical trials by leading players for the development of innovative drugs will enable speedy expansion of the market in the foreseeable future, states Fortune Business Insights in a report, titled “Prescription Drugs Market Size, Share & Industry Analysis, By Product Type (Generics, Orphan, and Other Prescription Drugs), By Therapy (Oncology, Anti-diabetics, Vaccines, Sensory Organs, Immunosuppressants, Anticoagulants, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies & Drug Stores, and Online Pharmacies), and Regional Forecast, 2019-2026” the market size stood at USD 811.00 billion in 2018.
Highlights of the Report:
- In-depth analysis of various insights, namely, Prescription Drugs Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Prescription Drugs Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Prescription Drugs Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Novartis AG
- Pfizer, Inc.
- Hoffmann-La Roche Ltd
- Sanofi
- Johnson & Johnson Services, Inc
- Merck & Co., Inc.
- AbbVie, Inc.
- GlaxoSmithKline plc.
- AstraZeneca
- CELGENE CORPORATION (BRISTOL-MYERS SQUIBB COMPANY)
- Others
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Regional Analysis:
Robust Development of Advanced Prescription Drugs to Boost Market
North America generated a revenue of USD 396.58 billion in 2018 and is predicted to grow rapidly during the forecast period owing to the growing development of advanced prescription drugs to cater to the demand of the consumers. The rising prevalence of chronic diseases will boost business in the region. Moreover, the rising R&D and high healthcare expenditure will contribute positively to the market growth. The market in Asia Pacific is likely to exhibit a high growth rate during the forecast period owing to the growing awareness regarding chronic disorders. In addition, the presence of eminent players will positively impact the market in Asia Pacific. The market in Europe is predicted to grow rapidly in the forthcoming years owing to rising demand for advanced prescription drugs. The increasing product launches for orphan disease by key players will bolster healthy growth of the market in the forthcoming years.
Competitive Landscape:
Grant for Oxbryta by FDA to Accelerate Growth
The U.S. Food and Drug Administration announced that it has granted the approval to Oxbryta (voxelotor) for the treatment of sickle cell disease (SCD) in adults and pediatric patients 12 years of age and older. The growing incidence of sickle disease will spur demand for Oxbryta, which, in turn, will boost the global prescription drugs market growth. Sickle cell disease can be classified as lifelong, inherited blood disorder. The red blood cells are unusually shaped, thus restricting the flow in blood vessels and limits oxygen delivery to the body’s tissues and leading to acute pain and critical damage. Furthermore, FDA Commissioner Adm. Brett P. Giroir, M.D., said in a statement, “Our scientific investments have brought us to a point where we have many more tools available in the battle against sickle cell disease, which presents daily challenges for those living with it. We remain committed to raising the profile of this disease as a public health priority and to approving new therapies that are proven to be safe and effective.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Key Diseases – by Key Countries – 2018
- Pipeline Analysis
- Key Industry Developments
- Regulatory Scenario – by Key Regions
- New Product Approvals
- Global Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product Type
- Generics
- Orphan
- Other Prescription Drugs
- Market Analysis, Insights and Forecast – By Therapy
- Oncology
- Anti-diabetics
- Vaccines
- Sensory Organs
- Immunosuppressants
- Anticoagulants
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product Type
- Generics
- Orphan
- Other Prescription Drugs
- Market Analysis – By Therapy
- Oncology
- Anti-diabetics
- Vaccines
- Sensory Organs
- Immunosuppressants
- Anticoagulants
- Others
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis – By Country
- S.
- Canada
- Europe Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product Type
- Generics
- Orphan
- Other Prescription Drugs
- Market Analysis – By Therapy
- Oncology
- Anti-diabetics
- Vaccines
- Sensory Organs
- Immunosuppressants
- Anticoagulants
- Others
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis – By Country/ sub-region
- K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
- Asia pacific Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product Type
- Generics
- Orphan
- Other Prescription Drugs
- Market Analysis – By Therapy
- Oncology
- Anti-diabetics
- Vaccines
- Sensory Organs
- Immunosuppressants
- Anticoagulants
- Others
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis – By Country/ sub-region
- Japan
- China
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- Latin America Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product Type
- Generics
- Orphan
- Other Prescription Drugs
- Market Analysis – By Therapy
- Oncology
- Anti-diabetics
- Vaccines
- Sensory Organs
- Immunosuppressants
- Anticoagulants
- Others
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis – By Country/ sub-region
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa Prescription Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product Type
- Generics
- Orphan
- Other Prescription Drugs
- Market Analysis – By Therapy
- Oncology
- Anti-diabetics
- Vaccines
- Sensory Organs
- Immunosuppressants
- Anticoagulants
- Others
- Market Analysis – By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies & Drug Stores
- Online Pharmacies
- Market Analysis – By Country/ sub-region
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Continued…
Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Prescription Drugs Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the Prescription Drugs Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Prescription Drugs Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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