USD 1.48 trillion
Pharmerging Market Size, Share, Growth Analysis, By Distribution Channel(Online, Offline), By Product Type(Pharmaceuticals, Healthcare Products), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2265 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|Tables:
61
|Figures:
75
Pharmerging Market Insights
Pharmerging Market size was valued at USD 1.48 trillion in 2019 and is poised to grow from USD 1.56 trillion in 2023 to USD 3.21 trillion by 2031, growing at a CAGR of 8.98% in the forecast period (2024-2031).
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.
US Pharmerging Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Healthcare Products
Fastest Growth
Healthcare Products
Growth Rate
8.98% CAGR
Global Pharmerging Market ($ Tn)
Country Share for Aisa Pacific Region (%)
Country Share for North America Region (%)
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Pharmerging Market Segmental Analysis
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 Pharmerging Market is categorized into offline and online channel. By region, the Pharmerging Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Pharmerging Market 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.
Pharmerging Market 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.
Global Pharmerging Market By Product Type
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Pharmerging Market Regional Insights
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.
Global Pharmerging Market By Region
- Largest
- Fastest
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Pharmerging Market Dynamics
Pharmerging Market Drivers
- High prevalence of a variety of chronic diseases, as well as rising consumer knowledge of early detection of disease and treatment processes, continue research and development, and rising life expectancy are the major factors driving the growth of global pharmerging market over the forecast period. Furthermore, Increased consumer awareness towards pharmerging and government initiatives in the emerging economies such as India, China, and Indonesia.
- Moreover, growing number of insurance companies offering a variety of insurances to minimize the pharmerging expenses is driving up pharmaceutical demand across the globe. For instance, Hexvix, a drug used for bladder cancer diagnosis, has been included in the 2022 edition of the Lecheng Global Specialty Drug Insurance Drug List.
Pharmerging Market Restraint
- However, concerns associated with IP protection and socio-political issues in cross-border transactions and strict pricing control might cause value erosion and limit the market expansion in the coming years. Moreover, hard approval process from the government regulatory bodies for the use of pharmaceuticals in the market can hamper the market growth over the forecast period.
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Pharmerging Market Competitive Landscape
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
- Sanofi S.A.
- Pfizer Inc.
- AstraZenece Plc
- GlaxoSmithKline plc
- F. Hoffmann-La Roche AG
- Merck & Co., Inc.
- Novartis International AG
- Johnson & Johnson Services, Inc.
- Bristol-Myers Squibb Company
- Bayer AG
- AbbVie Inc.
- Eli Lilly and Company
- Takeda Pharmaceutical Company Limited
- Boehringer Ingelheim GmbH
- Novo Nordisk A/S
- Astellas Pharma Inc.
- Daiichi Sankyo Company, Limited
- Shire plc
- Biogen Inc.
- Otsuka Holdings Co., Ltd.
Pharmerging Market Recent Developments
- In June 2022, The Janssen Pharmaceutical Company of Johnson & Johnson announced that the U.S. Food and Drug Administration has granted Breakthrough Therapy Designation for talquetamab for the treatment of adult patients with the process of refractory multiple myeloma.
- In June 2022, Abbott Laboratories announced that they are developing a new type of biowearable that will continuously monitor glucose level and ketone levels in one sensor. The device has secured with the breakthrough from the U.S. Food and Drug Administration, which is designed to expedite the review of innovative technologies that will improve the life of people.
Pharmerging Key Market Trends
- Increasing R&D activities in biotechnology, immunology, cancer, and other sectors are fueling the market expansion across the world. Major companies of the industry are mainly focusing on the development of latest technology products for the ease of use and comfort for consumers. And, a rapid growth in the population across the world has led to increase in disease, which has resulted positively to the global pharmerging market.
Pharmerging Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.48 trillion |
| Market size value in 2031 | USD 3.21 trillion |
| Growth Rate | 8.98% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Trillion |
| Segments covered |
|
| 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) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Pharmerging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Pharmerging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pharmerging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pharmerging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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