Sedentary Lifestyles + Chronic Diseases = Growth In The Pharmaceutical Drugs Market

Pharmaceutical Drugs Market Report 2021 - COVID-19 Impact And Recovery

Pharmaceutical Drugs Global Market Report 2021 – COVID-19 Impact And Recovery

The Business Research Company’s Pharmaceutical Drugs Global Market Report 2021 – COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, November 1, 2021 / — The rise in sedentary jobs, busy lifestyles and changing consumer preferences are affecting the disease profile of the world population, especially non-communicable diseases such as cancer, diabetes and cardiovascular diseases. Long working hours, less physical activity, and unhealthy eating and drinking habits are major causes of chronic diseases such as diabetes. According to the World Health Organization, chronic disease prevalence is expected to rise by 57% globally, by the year 2020. China and India together had about 193.4 million diabetic patients in 2019 and India is expected to have about 101 million diabetic patients by 2030, thereby increasing the need for biologics drugs for diabetic patients. These factors are expected to increase the patient pool globally, thereby driving the pharmaceutical drugs market during the forecast period.

The global pharmaceutical drugs market size is expected to grow from $975.04 billion in 2020 to $981.73 billion in 2021 at a compound annual growth rate (CAGR) of 0.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The pharmaceutical drugs market is expected to reach $1280.42 billion in 2025 at a CAGR of 7%.

North America was the largest region in the global pharmaceutical drugs market, accounting for 44% of the market in 2020. Asia Pacific was the second largest region, accounting for 27% of the global pharmaceutical drugs market. Africa was the smallest region in the global pharmaceutical drugs market.

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Early Rx-to-OTC switch, or switching the product from prescription to non-prescription status, is a key trend in the dermatology drugs market. Traditionally, the Rx-to-OTC status conversion was generally observed at a phase nearing the patent expiry or after. However, forward-thinking companies are now looking at switching from Rx-to-OTC well in advance of the patent expiry of the drug. This helps the manufacturer to capitalize on the market opportunities for the product. Early Rx-to-OTC switching also provides an additional benefit as a way to recover all the expenses incurred on the product by the company. For example, in 2020 FDA has switched three prescription drugs to OTC including Voltaren for arthritis pain, olopatadine hydrochloride 0.1% and 0.2% (Pataday Twice Daily Relief and Pataday Once Daily Relief) for temporary relief of itchy and red eyes due to pollen, ragweed and grass.

Major players covered in the global pharmaceutical drugs market are Novartis AG, Sanofi S.A., Pfizer Inc., Gilead Sciences, Inc., Johnson & Johnson.

TBRC’s global pharmaceutical drugs market report is segmented by type into cardiovascular drugs, dermatology drugs, gastrointestinal drugs, genito-urinary drugs, hematology drugs, anti-infective drugs, metabolic disorders drugs, musculoskeletal disorders drugs, central nervous system drugs, oncology drugs, ophthalmology drugs, respiratory diseases drugs, by distribution channel into hospital pharmacies, retail pharmacies/ drug stores, others, by route of administration into oral, parenteral, others, by drug classification into branded drugs, generic drugs.

Pharmaceutical Drugs Global Market Report 2021 – By Type (Cardiovascular Drugs, Dermatology Drugs, Gastrointestinal Drugs, Genito-Urinary Drugs, Hematology Drugs, Anti-Infective Drugs, Metabolic Disorders Drugs, Musculoskeletal Disorders Drugs, Central Nervous System Drugs, Oncology Drugs, Ophthalmology Drugs, Respiratory Diseases Drugs), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies/ Drug Stores), By Route Of Administration (Oral, Parenteral), By Drug Classification (Branded Drugs, Generic Drugs), By Mode Of Purchase (Prescription-Based Drugs, Over-The-Counter Drugs), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides pharmaceutical drugs market overview, forecast pharmaceutical drugs market size and growth for the whole market, pharmaceutical drugs market segments, and geographies, pharmaceutical drugs market trends, pharmaceutical drugs market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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Pharmaceutical Drugs And Biologics Logistics Market 2021 – By Type Of Service (Cold Chain Logistics, Non-Cold Chain Logistics), By Mode Of Transport (Air Transportation, Ocean Transportation, Land Transportation), By Pharmaceutical Type (Pharmaceutical Drugs, Biologics), By Therapeutic Area (Metabolic Disorders Drugs, Anti-Infective Drugs, Central Nervous System Drugs, Respiratory Diseases Drugs, Cardiovascular Drugs, Musculoskeletal Disorders Drugs, Oncology Drugs, Hematology Drugs, Monoclonal Antibodies (MAbS), Genito-Urinary Drugs, Gastrointestinal Drugs, Therapeutic Proteins, Dermatology Drugs, Vaccines, Ophthalmology Drugs), And By Region, Opportunities And Strategies – Global Forecast To 2030

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