Pharmaceutical Drugs Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Pharmaceutical Drugs Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, February 10, 2022 /EINPresswire.com/ -- 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 rose by 57% globally, in 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 growth during the forecast period.

North America was the largest region in the pharmaceutical drugs market in 2021. The Middle East is expected to be the fastest growing region in the forecast period. The regions covered in the pharmaceutical drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Read more on the Global Pharmaceutical Drugs Market Report:
https://www.thebusinessresearchcompany.com/report/pharmaceutical-drugs-global-market-report

The global pharmaceutical drugs market size is expected to grow from $1.08 trillion in 2021 to $1.14 trillion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The growth in the pharmaceutical drugs market 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 global pharmaceutical drugs market share is expected to reach $1.63 trillion in 2026 at a CAGR of 9.5%.

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. Pharmaceutical drugs marketing strategies include pushing the early Rx-to-OTC switch that 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 Bristol-Myers Squibb, Sanofi S.A, Johnson & Johnson, Novartis AG, Bayer AG, Abbott Laboratories, GlaxoSmithKline, AstraZeneca, Merck & Co and CJ Corp.

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, by mode of purchase into prescription-based drugs, over-the-counter drugs.

Pharmaceutical Drugs Global Market Report 2022 – 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) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a pharmaceutical drugs market overview, forecast pharmaceutical drugs market size and growth for the whole market, pharmaceutical drugs market segments, geographies, pharmaceutical drugs market trends, pharmaceutical drugs market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

Request for a Sample of the Global Pharmaceutical Drugs Market Report:
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