Report ID: SQSG35I2019 | Region: Global | Published Date: September, 2022 | Pages: 165 | Tables: 0 | Figures: 0Global Allergy Immunotherapy Market
Report ID: SQSG35I2039 | Region: Global | Published Date: September, 2022 | Pages: 157 | Tables: 61 | Figures: 65
Global pharmerging market was valued at USD 1.01 billion in 2021 and is expected to USD 2.27 billion by 2028, at a CAGR of 12.26% over the forecast period (2022–2028).
Rising prevalence of non-communicable disease, increase in life expectancy, growing per capita income, surging government expenditure on healthcare, free trade agreement, and aging population are the key factors driving the growth of the global pharmerging market during the forecast period. With the rising incidence rate of several types of diseases, the demand for highly advanced and innovative product with better outcome is also increasing, which is likely to have a positive impact on the market growth in the near future.
Moreover, rapid growth in the new product launches in the sector is also propelling the market demand and growth. According to our findings, a total of around 300 new drugs are expected to be launched in the next five years, with a significant increase than the level seen on average during last few decades, and are projected to skew towards specialty, niche and orphan drugs. New product launches are expected to have a spending of USD 196 billion in the next few years, largely offset by the reduction in brand spending.
The global pharmerging market is encountering an indisputable rivalry among the key players of the industry. The presence of huge pool if members has kept the seller scene divided while the consistent number of new market players is entering to the rivalry inside this market fundamentally. In the next few years, they are anticipated to move their concentration towards undiscovered business sectors with possible freedoms.
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Global pharmerging market is segmented on the basis of product type, distribution channel, and region. By product type, the market is segmented into pharmaceuticals and healthcare products. By distribution channel, the market is categorized into offline and online channel. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Analysis by Product Type
By product type, the pharmaceuticals segment dominated the market with a contribution of over 72.1% of market share in 2021. Increase in demand for counter drugs, generic prescription drugs, and patented prescriptions drugs across the globe is the major factor driving the segment growth during the forecast period. As, most of the developing nations such as India, Indonesia, and Brazil are price sensitive and the expenditure is made out of pocket, these factors are expected to boost the generic prescription drugs segment in the nations over the forecast period.
Analysis by Distribution Channel
By distribution channel, the online segment is expected to have largest market share throughout the forecast period. Emergence of online platforms to promote and advertise the product and services through several social media platforms and online websites are the leading factor expected to fuel the growth of the segment during the forecast period. Moreover, followed by online channels, the healthcare segment is also expected to have an increase in the number of sales-volume in the coming years. Government favorable programs and increase in the research & development activities in the healthcare sector is expecting to impact global pharmerging market positively.
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Asia Pacific dominated the global market with over 61% of market share in 2021 owing to increase in patent expiration, spike on medical research investments, and rising urbanization in the region. Furthermore, increased penetration of insurance policies and the presence of major companies with a wide range of product portfolio is expected to boost the region’s growth in the near future. Among the various nations contributing to the regional growth, China dominated the region with a hike in the demand for pharmerging products in the recent years.
The North American region is predicted to grow at a healthy CAGR during the forecast period. Extensive research & development, management of health care facilities, technological advancement, and rising awareness among consumers are propelling the market growth in the region. Moreover, due to the large population size and increasing prevalence of several disease is expected to have a positive impact on the demand and growth of the market. According to our findings, more than 50 million people in the U.S. are suffering from chronic pain and around 88% of them have pain in two or more different areas of their body.
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The global pharmerging market is fairly competitive with the presence of well-known market players such as Sanofi S.A., F. Hoffman-La Roche AG, and Johnson & Johnson. Major players are focusing on product launches, merger & acquisition, collaborations, and partnerships as key strategies for the expansion for their product portfolio and reach to large consumer base.
Top Players in the Global Pharmerging Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global pharmerging market is witnessing a strong growth during the forecast period due to the extensive rise in the innovations, rapid growth in population, and technology advancements. In addition, government initiatives in order to get latest products and features in their prospective regions for the better diagnosis of several types of disease is propelling the market growth significantly. However, high initial set up cost for the equipment of pharmerging is likely to hamper the market growth during the forecast period.
|Market size value in 2021||USD 1.01 billion|
|Market size value in 2028||USD 2.27 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Pharmerging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pharmerging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pharmerging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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