(EMAILWIRE.COM, January 02, 2019 ) The pharmaceutical industry develops drugs to diagnose, cure, treat or prevent diseases. Pharmaceutical companies produce both generic and branded drugs. The pharmaceutical market and drug industry at large is subjected to various laws and regulations that deal with patenting, testing, safety, efficacy and marketing. Pharmaceutical drugs are intended for human or veterinary use presented in their finished dosage form.
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If we have a look at global pharmaceutical industry overview of the pharmaceutical industry data, it shows that this market was worth more than $900 billion in 2017 and has grown at a CAGR of more than 5% during 2013-2017. The market is expected to grow at a CAGR of about 5.5% during 2017-2021 due to growth of global population and increasing healthcare awareness. This is the potential pharmaceutical market size.
The pharmaceutical market is segmented into Musculoskeletal Disorders Drugs, Cardiovascular Drugs, Oncology Drugs, Anti-Infective Drugs, Metabolic Disorder Drugs, Central Nervous System Drugs, Genito-Urinary Drugs, Respiratory Diseases Drugs, Gastrointestinal Drugs, Hematology Drugs, Dermatology Drugs, and Ophthalmology Drugs.
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After a pharmaceutical industry analysis of the latest pharmaceutical industry data, TBRCs report shows that Musculoskeletal Disorders Drugs was the largest segment in the pharmaceutical drugs market at approximately 15% of the market share, worth about $130 billion. This size of this market can be attributed to the large old age population and the prevalence of old age-related diseases such as rheumatoid arthritis, osteoarthritis among them. According to the United Nations, the number of people aged 60 years or over increased from 607 million in 2000 to 901 million in 2015.
The Musculoskeletal Disorders Drugs segment is expected to grow at a CAGR of more than 9% during 2017-2021. The rapid growth in the market can be attributed to the growing diabetic population worldwide, and increasing academia-industry collaborations to develop new drugs for treatment of metabolic disorders.
Companies included in the report are Novartis AG, Sanofi S.A., F. Hoffmann-La Roche Ltd., Pfizer Inc., and Gilead Sciences, Inc.
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