Prescription Drugs Market Growing to Exhibit a Remarkable Growth of USD 1,482.35 Billion with Analysis of Key Drivers, Size, Share, Growth and Opportunities by 2029 (2022)

, /PRNewswire/ -- Data Bridge Market research has recently issued comprehensive industry research on 'Global Prescription Drugs Market' which includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The persuasive Prescription Drugs Market report helps to better situate the company within the market by applying the knowledge gained from marketing research to build competitive intelligence, and formulate & maintain revenue-generating business strategies. It has carefully compiled information pertinent to the company so that business can focus on the correct market segments, and prepare for further market developments and fluctuations. With this marketing report, receive elucidation regarding business initiatives that include proprietary company research, consumer data, and superior data-driven strategies. The most engaging Prescription Drugs market analysis report helps to avoid market and investment risks that can comprehensively map and profile competitors as well as the macroeconomic environment.

Prescription Drugs Market Growing to Exhibit a Remarkable Growth of USD 1,482.35 Billion with Analysis of Key Drivers, Size, Share, Growth and Opportunities by 2029 (1)

Data Bridge Market Research analyses that the prescription drugs market was valued at USD 1,015.63 billion in 2021 and is expected to reach USD 1,482.35 billion by 2029, registering a CAGR of 4.84%during the forecast period of 2022 to 2029.

Download Sample Copy of Prescription Drugs Market Report @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-prescription-drugs-market&PNW/11Aug2022

Prescription Drugs Market Scenario

Prescription pharmaceuticals are more potent than over-the-counter (OTC) medications. As a result, their misuse may result in serious negative effects. Customers are only given these medications if they have a doctor's prescription. The symbol Rx, which may be found on doctor's prescription notepads and signs in most pharmacies, stands for medical prescription

Prescription medications include a wide range of vaccinations and therapies used to treat and manage chronic and acute diseases.Cancer, cardiovascular diseases,diabetes, and orphan diseases are among these disorders. In current therapeutic situation, proper prescription drug administration is crucial for improving clinical outcomes for practically every patient suffering from significant diseases. Many market companies are conducting clinical studies to develop novel treatments for various disorders; nevertheless, the prescription drug landscape has changed dramatically due to the rising availability of generic equivalents.

The Key Companies Profiled in the Prescription Drugs Market are:

  • F. Hoffmann-La Roche Ltd. (Switzerland)

  • Mylan N.V. (U.S.)

  • Teva Pharmaceutical Industries Ltd. (Ireland)

  • Sanofi (France)

  • Pfizer Inc. (U.S.)

  • GlaxoSmithKline plc (U.K.)

  • Novartis AG (Switzerland)

  • Merck & Co., Inc. (U.S.)

  • Allergan (Ireland)

  • AstraZeneca (U.K.)

  • Johnson & Johnson Private Limited (U.S.)

  • Hikma Pharmaceuticals PLC (U.K.)

  • Bristol-Myers Squibb Company (U.S.)

  • Bayer AG (Germany)

  • Boehringer Ingelheim International GmbH. (Germany)

  • Dr. 'Reddy's Laboratories Ltd. (India)

  • Gilead Sciences, Inc. (U.S.)

  • Amgen Inc. (U.S.)

  • Eli Lilly and Company (U.S.)

  • AbbVie Inc. (U.S.)

  • Lupin (India)

  • Allergan (Ireland)

Browse 350 Pages PDF Research Report @ https://www.databridgemarketresearch.com/checkout/buy/enterprise/global-prescription-drugs-market?PNW/11Aug2022

Opportunities for Players

  • Increasing launch of generic equivalents

The increased number of generic versions of several key medications being launched in strong areas such as the United States is driving the global prescription drugs market. The rise in generic equivalent acceptance is partly attributed to the fact that generics are frequently as effective as their original counterparts and may often be accepted by patients for a fraction of the cost. Patients who cannot afford pricey prescription drugs due to financial constraints can often benefit from these drugs and achieve improved clinical outcomes.

Important Facts about This Market Report:-

Prescription Drugs Market Scope and Market Size:

The prescription drugs market is segmented on the basis of type, therapy area, route of administration, end-users and distribution channel.

Type

  • Branded

  • Generic

Therapy Area

  • Oncology

  • Immunology

  • Ophthalmology

  • Respiratory

  • Dermatology

  • Gastroenterology

  • Urology

  • Gynaecology

  • Endocrinology

  • Others

Route of Administration

  • Oral

  • Topical

  • Parenteral

  • Others

End-Users

  • Hospitals

  • Specialty Clinics

  • Homecare

  • Others

Distribution Channel

  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Pharmacy

  • Others

The first class Prescription Drugs market research report has the best research offerings and the required critical information whether businesses are looking for latest product trends or competitive analysis of an existing or emerging market. With this industry report, companies can sharpen their competitive edge again and again. The industry report has expert insights on global industries, products, company profiles, and market trends. Users can gain unlimited, company-wide access to a comprehensive catalog of industry-specific market research from this industry analysis report. The wide-ranging Prescription Drugs business report examines industries at a much higher level than an industry study.

Explore Latest Findings of Prescription Drugs Market Study @ https://www.databridgemarketresearch.com/reports/global-prescription-drugs-market?PNW/11Aug2022

Regional Outlook of Prescription Drugs Market:

  • North America (U.S., Canada and Mexico)

  • Rest of Europe in Europe (Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain and Turkey)

  • Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC) (China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines)

  • Rest of Middle East and Africa (MEA) as a part of MEA (Saudi Arabia, U.A.E., South Africa, Egypt and Israel)

  • Rest of South America as part of South America (Brazil and Argentina)

The latest industry analysis and survey on Prescription Drugs provides sales outlook in 20+ countries, across key categories. Insights and outlook on Prescription Drugs market drivers, trends, and influencing factors are also included in the study.

Recent Development

In April 2020, Pharma major Lupin Limitedhad announced the launch of Mycophenolic Acid Delayed-Release Tablets USP, 180 mg and 360 mg. These tablets are prescribed for the prevention of organ rejection in adult kidney transplant recipients and pediatric patients aged 5 and above who have been on dialysis for at least 6 months.

Industry Drivers:-

The increased prevalence ofcardiovascular diseaseswill fuel the 'market's growth. According to the CDC, cardiovascular diseases, which include heart and blood vessel abnormalities, are the leading cause of mortality and disability worldwide. High blood pressure, often known as hypertension, is a key risk factor for this disease, which is responsible for an estimated 10 million deaths annually. Several projects, such as the global hearts initiative, are being implemented around the world to improve cardiovascular disease prevention and control. This is to reduce the number of people who die prematurely as a result of heart disease.

  • Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of prescription drugs market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

  • Increasing prevalence of chronic diseases

The increased prevalence of chronic diseases will fuel industry growth. The rise in cardiovascular disorders is propelling the industry forward. Growing urbanization and the adoption of hazardous living circumstances are two important factors. Chronic diseases include Alzheimer's disease, cardiovascular disease, obesity, and diabetes, to name a few. Rising cancer occurrences are also boosting market expansion throughout the forecast period. According to World Health Organization data from 2018, cancer is the world's second-largest cause of death. In 2018, it was responsible for 9.6 million fatalities. Cancer is also responsible for one out of every six fatalities worldwide. Lung cancer, breast cancer, colorectal cancer, prostate cancer, skin cancer, and stomach cancer are the most frequent cancers. In 2018, the overall number of new cases reached 18.1 million.

Points Covered in Table of Content of Global Prescription Drugs Market:

  • Chapter 1: Report Overview

  • Chapter 2: Global Market Growth Trends

  • Chapter 3: Value Chain of Prescription Drugs Market

  • Chapter 4: Players Profiles

  • Chapter 5: Global Prescription Drugs Market Analysis by Regions

  • Chapter 6: North America Prescription Drugs Market Analysis by Countries

  • Chapter 7: Europe Prescription Drugs Market Analysis by Countries

  • Chapter 8: Asia-Pacific Prescription Drugs Market Analysis by Countries

  • Chapter 9: Middle East and Africa Prescription Drugs Market Analysis by Countries

  • Chapter 10: South America Prescription Drugs Market Analysis by Countries

  • Chapter 11: Global Prescription Drugs Market Segment by Types

  • Chapter 12: Global Prescription Drugs Market Segment by Applications

To Check the Complete Table of Contents, Click here @https://www.databridgemarketresearch.com/toc/?dbmr=global-prescription-drugs-market&PNW/11Aug2022

Browse More Reports by DBMR:

Dermatology Drugs Market– Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-dermatology-drugs-market

Immunotherapy Drugs MarketIndustry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-immunotherapy-drugs-market

Orphan Drugs Market– Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-orphan-drugs-market

Performance Enhancing Drugs Market– Industry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-performance-enhancing-drugs-market

Migraine Drugs MarketIndustry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-migraine-drugs-market

Genitourinary Drugs Market– Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-genitourinary-drugs-market

Urothelial Cancer Drugs Market– Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-urothelial-cancer-drugs-market

Liver Cirrhosis Drugs MarketIndustry Trends and Forecast to 2029 https://www.databridgemarketresearch.com/reports/global-liver-cirrhosis-drugs-market

Drugs of Abuse (DOA) Testing Market– Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-drugs-of-abuse-doa-testing-market

Sustained Release Drugs Market– Industry Trends and Forecast https://www.databridgemarketresearch.com/reports/global-sustained-release-drugs-market

About Data Bridge Market Research:

An absolute way to forecast what future holds is to comprehend the trend today!

Data Bridge Market Researchset forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavours to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process. Data Bridge is an aftermath of sheer wisdom and experience which was formulated and framed in the year 2015 in Pune.

Data Bridge Market Research has over 500 analysts working in different industries. We have catered more than 40% of the fortune 500 companies globally and have a network of more than 5000+ clientele around the globe. Data Bridge adepts in creating satisfied clients who reckon upon our services and rely on our hard work with certitude. We are content with our glorious 99.9 % client satisfying rate.

Contact Us:-
Data Bridge Market Research
US: +1 888 387 2818
UK: +44 208 089 1725
Hong Kong: +852 8192 7475
Email:-corporatesales@databridgemarketresearch.com

Logo: https://mma.prnewswire.com/media/1011053/Data_Bridge_Market_Research_Logo.jpg

Prescription Drugs Market Growing to Exhibit a Remarkable Growth of USD 1,482.35 Billion with Analysis of Key Drivers, Size, Share, Growth and Opportunities by 2029 (2)

View original content:https://www.prnewswire.com/news-releases/prescription-drugs-market-growing-to-exhibit-a-remarkable-growth-of-usd-1-482-35-billion-with-analysis-of-key-drivers-size-share-growth-and-opportunities-by-2029--301604260.html

SOURCE Data Bridge Market Research

FAQs

How big is the US prescription drug market? ›

The U.S. pharmacy market size was USD 534.21 billion in 2020. The market is projected to grow from USD 560.00 billion in 2021 to USD 861.67 billion by 2028 at a CAGR of 6.3% in the 2021-2028 period.
...
ATTRIBUTEDETAILS
Base Year2020
Estimated Year2021
Forecast Period2021-2028
Historical Period2017-2019
6 more rows

How many prescriptions are written every year in the US? ›

A total of 6.3 billion prescriptions were dispensed in 2020 with growth slowing to 1.7% after adjusting for the increased use of 90-day prescriptions for chronic therapies.

Why are prescription drug prices higher in the US than other countries? ›

In the U.S., drugs with no competitors can be more expensive than in other countries, in part because the U.S. does not directly regulate or negotiate the price of drugs. When generics or biosimilars become available, these lower-cost alternatives can offer less expensive treatment options to patients and payers.

Why are prescription drug costs rising rapidly 2021? ›

While half of new drugs entering the market cost more than $150,000 a year in 2020 and 2021, the 2021 increase was largely driven by two new cancer drugs that cost $1.6 million and $3.2 million annually. The substantial jump, she suspects, was driven by the possibility of federal regulation over drug price increases.

What country spends the most on prescription drugs? ›

United States

What percentage of the population takes prescription drugs? ›

A vital component of health care

More than 131 million people — 66 percent of all adults in the United States — use prescription drugs. Utilization is particularly high for older people and those with chronic conditions. Prescription drugs are costly.

How much does the US spend on prescription drugs 2021? ›

Nationwide drug spending grew 7.7% in 2021, will increase another 4%-6% in 2022. The U.S.'s total drug spending grew 7.7% to $576.9 billion in 2021 and is projected to increase somewhere between 4% and 6% in the year to come, according to a recent report from the American Society of Health-System Pharmacists (ASHP).

How much is the pharmaceutical industry worth in the US? ›

The U.S. pharmaceutical industry earned $425 billion in annual revenue in 2020 and the total biopharmaceutical industry, valued at $625 billion, makes up roughly 3.2% of total U.S. GDP. The U.S. pharmaceutical industry also accounts for up to 48% of the total global pharmaceutical market, by sales.

How much does the US spend on prescription drugs 2021? ›

Nationwide drug spending grew 7.7% in 2021, will increase another 4%-6% in 2022. The U.S.'s total drug spending grew 7.7% to $576.9 billion in 2021 and is projected to increase somewhere between 4% and 6% in the year to come, according to a recent report from the American Society of Health-System Pharmacists (ASHP).

How much does the US spend on prescription drugs 2020? ›

Prescription drug spending increased 3.0% to $348.4 billion in 2020, slower than the 4.3% growth in 2019. The largest shares of total health spending were sponsored by the federal government (36.3 percent) and the households (26.1 percent).

How much did Americans spend on prescription drugs in 2021? ›

According to data from KFF, Texas has the highest level of cash spending on retail prescription drugs, with an annual state total of $926,129,911, followed by California with $744,984,994.

You might also like

Latest Posts

Article information

Author: Margart Wisoky

Last Updated: 10/08/2022

Views: 6421

Rating: 4.8 / 5 (78 voted)

Reviews: 85% of readers found this page helpful

Author information

Name: Margart Wisoky

Birthday: 1993-05-13

Address: 2113 Abernathy Knoll, New Tamerafurt, CT 66893-2169

Phone: +25815234346805

Job: Central Developer

Hobby: Machining, Pottery, Rafting, Cosplaying, Jogging, Taekwondo, Scouting

Introduction: My name is Margart Wisoky, I am a gorgeous, shiny, successful, beautiful, adventurous, excited, pleasant person who loves writing and wants to share my knowledge and understanding with you.