Pharmaceutical industry is one of the most heavily regulated and research and development driven industrial sectors in the world. Global pharmaceuticals industry is estimated to see consistent growth in the coming years and reach sales worth USD 1567.80 billion by 2023. This growth is driven by rising and aging global population, increasing income levels among poor and middle-class families, rising access to quality healthcare and emergence of new diseases.
Global pharmaceuticals industry is also facing challenges like increasing drug price controls, rising regulatory requirements by governments and uncertainty of success of new drugs which can affect the growth of this industry. Even in the U.S. pharmaceuticals market which is the largest in the world, Donald Trump administration is looking to implement a form of drug price control using “international pricing index” which is expected to lower drug prices by basing them on other countries’ (Austria, Belgium, Canada, the Czech Republic, Finland, France, Germany, Greece, Ireland, Italy, Japan, Portugal, Slovakia, Spain, Sweden and the United Kingdom) costs. It is estimates that implementation of the new pricing index would save Medicare USD 17.2 billion over a five-year period.
Despite these challenges the global pharmaceuticals industry is estimated to see consistent growth due to rising and aging global population, increasing income levels among poor and middle-class families, rising access to quality healthcare and emergence of new diseases. As per United Nations, the global population is expected to cross 9.3 billion by 2050 and around 21% of this population is expected to be aged 60 and above representing large customer base for pharmaceuticals products.
This report has provided detailed company profiles for 10 key players in Global pharmaceuticals industry covering their position in Global pharmaceuticals market value chain, financial performance analysis, product wise business strategy, competitive landscape and SWOT analysis. The list of companies covered in this report include Pfizer Inc., Novartis International AG, Johnson & Johnson, GlaxoSmithKline PLC, Roche Holding AG, Merck & Co. Inc., Sanofi S.A., AbbVie Inc., Gilead Sciences Inc. and Bayer AG
*If Applicable.