Total pharmaceutical sales numbers in North America are projected to amount to around 853 billion U.S. dollars in 2028, making it the regional submarket with the highest global pharma sales. Pharmaceutical spending and product revenue In 2026, the United States is projected to spend between 685 and 715 billion U.S. dollars on medicine, making it the country with the highest pharmaceutical spending by far. China, which is estimated to be in second place, has a maximum projected expenditure estimate of 190 billion U.S. dollars for that year. The top pharmaceutical product for 2026 is expected to be Keytruda. Keytruda by Merck & Co is forecast to generate almost 27 billion U.S. dollars in revenue in 2026. Chemical and biological substances Given that U.S. pharmaceutical R&D expenditures are the highest in the world, it comes to no surprise that the United States produces the largest volume of new chemical or biological entities each year. Between 2019 and 2023, American companies introduced a total of 148 new chemical or biological substances. Within the same period, Europe introduced 81 new entities.

In 2028, U.S.-based pharmaceutical company AbbVie is expected to generate nearly 66 billion U.S. dollars in sales revenue through prescription drugs, making it the world's top drug manufacturer. This statistic illustrates the sales forecast of the leading 10 pharmaceutical companies worldwide in 2028.

Forecast: Total Pharmaceutical Sales in Belgium 2022 - 2026 Discover more data with ReportLinker!

Forecast: Total Pharmaceutical Sales in Japan 2023 - 2027 Discover more data with ReportLinker!

In 2023, Mexico sold around 10.83 billion U.S. dollars worth of pharmaceutical products. This shows an increase in comparison to the previous year, when the North American country's pharma sales value added up to 10.12 billion dollars. In 2020, pharmaceutical sales in Mexico were estimated at around 11.1 billion U.S. dollars. In 2021, the pharmaceutical industry in Mexico employed over 52,000 people.

Forecast: Sales of Pharmaceutical Preparations Affecting Parasitic and Infective Diseases in the US 2024 - 2028 Discover more data with ReportLinker!

According to the estimated net sales figures, Walgreens Boots Alliance was the leading health and pharma retailer in North America in 2021, with 114.3 billion U.S. dollars. CVS Health and Rite Aid came in second and third in the ranking, with estimated sales of 98.4 billion U.S. dollars and 25.2 billion U.S. dollars, respectively. Forecasts show that the ranking is expected to be the same in 2026, where the sales of Walgreens Boots Alliance is projected reach to about 130.9 billion U.S. dollars.

Over the forecast period until 2029, the online revenue share is forecast to exhibit fluctuations among the two segments. Comparing the two different segments for the year 2029, the segment 'Offline' leads the ranking with 83.57 percent. Contrastingly, 'Online' is ranked last, with 16.43 percent. Their difference, compared to Offline, lies at 67.14 percentage points. Find further statistics on other topics such as a comparison of the online revenue share in Malaysia and a comparison of the online revenue share in Singapore. The Statista Market Insights cover a broad range of additional markets.

Forecast: Sales of Pharmaceutical Preparations Acting on The Central Nervous System and The Sense Organs in the US 2024 - 2028 Discover more data with ReportLinker!

The global pharmaceutical market is expected to grow at a CAGR of 5% during 2011-2017, exceeding sales worth US$ 1.1 Trillion by 2017. This market, however, is expected to undergo a number of transitions which would impact the course of its growth. These transitions include a shift of growth from the developed to the emerging markets, an increasing focus on biopharmaceuticals compared to small molecule drugs and an increasing preference for generics compared to their branded versions. As a result of these transformations; the need for a user friendly, robust and comprehensive pharmaceutical market intelligence has become imperative for investors, researchers, consultants, marketing strategists, and all those who are planning to foray into the pharmaceutical market in some form or the other.

IMARC Group, one of the world’s leading research and advisory firms, introduces a new and revolutionary way to understand and evaluate the global pharmaceutical market with its Microsoft Excel based report entitled “Global Pharmaceutical Market Report & Forecast: 2012-2017”. This report provides an analytical and statistical insight into the global pharmaceutical market. The study, which has been undertaken using desk based as well as primary market research has analyzed the following aspects of the global pharmaceutical market.

What We Have Achieved in This Report?

Regions Covered: Global, North America, Europe, Asia Pacific, Latin America & Caribbean and Middle East & Africa

Countries Covered in Each Region

North America: United States and Canada

Europe: Germany, France, Italy, Spain, United Kingdom, Russia, Turkey, Netherlands, Poland, Greece, Belgium, Switzerland, Austria, Sweden, Portugal, Hungary, Romania, Denmark, Czech Republic, Finland, Ireland, Norway, Slovakia, Bulgaria, Croatia, Slovenia, Lithuania, Latvia, Luxembourg and Estonia

Asia Pacific: Japan, China, South Korea, Australia, India, Taiwan, Indonesia, Thailand, Philippines, Pakistan, Vietnam, Bangladesh, Hong Kong, New Zealand, Malaysia and Singapore

Latin America & Caribbean:Brazil, Mexico, Venezuela, Argentina, Puerto Rico, Colombia, Chile, Ecuador, Peru, Dominican Republic and Uruguay

Middle East & Africa: South Africa, Egypt, Saudi Arab, Algeria, Morocco, United Arab Emirates Lebanon, Tunisia, Jordan and Kuwait

Focus of the Analysis:

• Historical sales performance (2007-2011) for each country
• Historical sales performance (2007-2011) for each region
• Sales forecast (2012-2017) for each country
• Sales forecast (2012-2017) for each region
• Sales performance of key manufacturers for each country (2007-2011)
• Sales performance of key therapeutic areas for each country (2007-2011)
• Country wise sales breakup for each region (2007-2011)
• Country wise sales breakup forecast for each region (2012-2017)

Key Questions Answered;

• What was the historical performance of the global pharmaceutical market?
• Which are the key regions and countries in the global pharmaceutical market?
• Which are the largest pharmaceutical markets in the world?
• Which are the fastest growing pharmaceutical markets in the world?
• Which markets are expected to witness the slowest growth in the coming years?
• Which countries represent the key markets for each region?
• What has been the performance of various therapeutic classes in each country?
• Who are the top pharmaceutical manufacturers in each country?
• What are the market shares of the top pharmaceutical manufacturers in each country?

Why You should Buy This Report?

• To gain a comprehensive understanding on the historical, current and future pharmaceutical market trends across 70 countries in 6 regions.
• To identify potential regions, countries, therapeutic areas, partners and competitors for market entry and expansion plans.
• As a tool for developing investment strategies by identifying the biggest winners and losers across various regions and countries.
• To ensure a successful M&A and partnership strategy by identifying therapeutic areas and companies with the most promising outlook.

Forecast: Sales of Pharmaceutical Preparations Affecting Neoplasms, The Endocrine System and Metabolic Diseases in the US 2024 - 2028 Discover more data with ReportLinker!

The size and share of the market is categorized based on Application (Dental, Glassware & Equipment, Medical Devices, Others) and Product (Hpq Powder, Crystal Silica, Fumed Silica, Silica Gel, Other) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Discover how GlobalData’s patient-based forecasting solutions help pharmaceutical companies predict patient trends and optimize market strategies Read More

China Pharmaceutical: Sales Revenue: Year to Date data was reported at 1,615,180.000 RMB mn in Jun 2022. This records an increase from the previous number of 1,053,300.000 RMB mn for Apr 2022. China Pharmaceutical: Sales Revenue: Year to Date data is updated monthly, averaging 643,313.916 RMB mn from Jan 2002 (Median) to Jun 2022, with 215 observations. The data reached an all-time high of 3,304,930.000 RMB mn in Dec 2021 and a record low of 32,828.985 RMB mn in Feb 2002. China Pharmaceutical: Sales Revenue: Year to Date data remains active status in CEIC and is reported by National Bureau of Statistics & YYTJ. The data is categorized under Global Database’s China – Table CN.RTC: Pharmaceutical Industry. Starting from 2019, sales revenue includes income from principal and other business.

As of June 2023, it was forecasted that in 2027 global sales for the leading three pharmaceutical cannabis products will stand at nearly 1.4 billion U.S. dollars. The three major products are Epidiolex, Dronabinol, and Sativex. This statistic illustrates the estimated sales forecast of major cannabis pharmaceutical products worldwide from 2023 to 2027.

Snapshot img

US Pharmacy Market Size 2024-2028

The US pharmacy market size is forecast to increase by USD 90.8 billion at a CAGR of 3.14% between 2023 and 2028. In the dynamic market, several drivers, trends, and challenges shape the industry landscape. The aging population in the United States is a significant growth factor, leading to an increase in pharmaceutical sales. Pharmaceutical exports, biotechnology, biosimilars, biologics, antiretroviral drugs, and vaccines are significant contributors to the sector's growth. This demographic shift also necessitates the adoption of telepharmacy services to cater to the healthcare needs of an expanding elderly population. Another trend in the market is the digitization of electronic health records (EHRs). Additionally, rising pricing in pharmaceuticals and reimbursement pressures are predefined factors influencing market growth. Quality control and licensing are essential aspects of the market, with industry associations playing a crucial role in setting standards and ensuring regulatory compliance. According to recent survey results, retail stores and hospitals remain the key distribution channels for pharmaceuticals.

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The market encompasses a wide range of healthcare products, including prescription medications, over-the-counter drugs, and health supplements. Pharmacists play a crucial role in ensuring the safe and effective use of these products by patients. With the increasing adoption of technology in healthcare, digital solutions have become essential components of modern pharmacy services. The growth of retail and hospital pharmacies is significantly influenced by the demand for OTC medications and generic medicines, with projections tied to GDP performance, especially during the April-January period when items like hydroxychloroquine became prominent in the market for medical goods. One significant trend in the market is the integration of technology into various aspects of pharmacy operations.

Furthermore, these digital pharmacies offer convenience and accessibility, allowing patients to order their prescriptions and over-the-counter medications from the comfort of their homes. National health services are increasingly adopting EHRs to improve patient care and streamline operations. EHRs enable pharmacists to access patients' medical histories, allergies, and medication lists, ensuring accurate and safe prescription dispensing. Technology is also transforming the production and distribution of healthcare products. API producers are leveraging digital solutions to improve the efficiency and quality of their manufacturing processes. The use of technology in the market is expected to continue growing, driven by the need for improved patient care, increased convenience, and cost savings.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Prescription
  OTC


Ownership

  Pharmacy chain
  Independent


Type

  Retail pharmacy
  Hospital pharmacy
  Others


Geography

  US

By Product Insights

The Prescription segment is estimated to witness significant growth during the forecast period. Pharmaceutical businesses in the United States have leveraged the power of market segmentation to better understand consumer needs and preferences in the prescription sector. This approach allows companies to develop targeted marketing strategies, optimize inventory, and enhance overall customer satisfaction. One crucial aspect of prescription-based market segmentation involves categorizing customers based on their therapeutic requirements. These categories span various health conditions, including cardiovascular health, mental health, respiratory diseases, chronic pain management, and numerous others.

Furthermore, by segmenting the market, pharmacies ensure a comprehensive range of prescription medications for each category, enabling them to offer customized treatment solutions to their clients. The Internet's increasing penetration in the US has significantly influenced market segmentation in the pharmaceutical industry. The S-curve method, a popular analytical tool, helps visualize the growth patterns of various market segments. Exchange rates and representativeness are essential factors to consider when analyzing data from Global GCS data, a valuable resource, that provides insights into consumer behavior and trends within these segments. By staying abreast of market trends and consumer preferences, pharmacies can cater to the unique needs of their clientele, ultimately driving customer loyalty and business success.

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The prescription segment was valued at USD 425.20 billion in 2018 and showed a gr

The size and share of the market is categorized based on Type (Alpha-Cyclodextrin, Beta-Cyclodextrin, Gamma-Cyclodextrin) and Application (Drug Delivery, Solubility Enhancement, Stabilization, Taste Masking) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The size and share of the market is categorized based on Application (Bio Pharma, Chemical Pharma, Specially Pharma) and Product (Cold Chain Logistics, Non-cold Chain Logistics) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Snapshot img

Bio-pharma Market Size 2024-2028

The bio-pharma market size is forecast to increase by USD 204.09 billion at a CAGR of 7.98% between 2023 and 2028.

The market is experiencing significant growth driven by the increasing prevalence of health disorders and the rise in the production of vaccines. The global population is aging, leading to an increase in chronic diseases such as cancer, type 2 diabetes, and cardiovascular diseases. This trend is particularly prominent in developed markets like the US, where an aging population and rising healthcare costs are fueling demand for innovative and effective bio-pharmaceutical solutions. Another key driver for the market is the production of vaccines, which has gained significant momentum in recent years due to the ongoing COVID-19 pandemic.
The rapid development and distribution of vaccines have highlighted the critical role of the bio-pharma industry in addressing global health crises. However, the high cost of bio-pharmaceuticals remains a significant challenge for market growth. This issue is compounded by regulatory requirements and lengthy approval processes, which can delay the entry of new products and limit competition. To capitalize on market opportunities and navigate challenges effectively, companies in the market must focus on innovation, cost reduction, and regulatory compliance. Strategic partnerships, collaborations, and acquisitions can help companies leverage each other's strengths and resources to bring new products to market more quickly and cost-effectively.

What will be the Size of the Bio-pharma Market during the forecast period?

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The market encompasses a diverse range of therapeutic modalities, including monoclonal antibodies, recombinant growth factors, purified proteins, recombinant enzymes, vaccines, recombinant hormones, cell therapies, gene therapies, synthetic immunomodulators, and various other living organisms derived from bacteria, yeast, and mammalian cells. Biotechnological processes are employed to produce these complex molecules, which target specific biological pathways, receptors, and molecular structures. Biopharmaceuticals address a broad spectrum of diseases, such as cancer, diabetes, psoriasis, rheumatoid arthritis, genetic mutations, and various other conditions.
Personalized medicine and the identification of biomarkers have significantly influenced the market's growth trajectory. The market's size and direction reflect the ongoing advancements in technology and the increasing demand for innovative therapeutic solutions.

How is the Bio-pharma Industry segmented?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Monoclonal antibodies
  Recombinant growth factors
  Vaccines
  Recombinant hormones
  Others


Application

  Oncology
  Autoimmune disorder
  Metabolic disorder
  Hormonal disorder
  Others


Geography

  North America

    US


  Europe

    France
    Germany


  Asia
  Rest of World (ROW)

By Product Insights

The monoclonal antibodies segment is estimated to witness significant growth during the forecast period. Monoclonal antibodies represent a significant segment of the market due to their high price point and life-saving capabilities, despite lower sales volumes compared to other pharmaceuticals. Revenues from monoclonal antibodies are substantial, making them a valuable contribution to the industry. The monoclonal antibodies segment is projected to grow during the forecast period, with companies investing heavily in research and development (R&D) of biologic drugs. Monoclonal antibodies hold the largest share in this area, as companies focus on expanding their bio-pharmaceutical domains.

Key therapeutic areas for monoclonal antibodies include oncology, autoimmune disorders, metabolic disorders, hormonal disorders, cardiovascular diseases, neurological diseases, and chronic conditions such as dementia and Alzheimer's disease. Technologies such as high throughput screening, combinatorial chemistry, computational modeling, genomics, next-generation sequencing, gene editing techniques, and purified proteins are essential in the development and production of monoclonal antibodies and other biopharmaceuticals.

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The Monoclonal antibodies segment was valued at USD 151.68 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

For more insights

According to cognitive market research, the global pharmaceutical contract sales outsourcing market size was valued at USD xx billion in 2024 and is expected to reach USD xx billion at a CAGR of xx% during the forecast period.

Pharmaceutical contract sales outsourcing (CSO) is a business model where pharmaceutical companies outsource their sales and marketing operations to third-party companies, also known as contract sales organizations.
In 2024, North America dominated the market, accounting significant share of about xx%. North America is the largest market for Pharmaceutical Contract Sales Outsourcing (CSO) globally.
Over the course of the forecast period, the Asia Pacific region is anticipated to increase at the fastest rate. The need for CSO operations in the region is rising as a result of the large number of pharmaceutical and biopharmaceutical businesses in the area.
Prominent pharmaceutical corporations in the Middle East and Africa are utilizing venture capital to oversee their financial holdings by purchasing shares in start-ups and small-to-medium-sized CMOs that have significant growth prospects.
More biopharma companies in Europe are turning to contract sales organizations to carry out promotional activities, which is why the market in this region is growing. 

Market Dynamics of the Pharmaceutical Contract Sales Outsourcing Market

Key Drivers of the Pharmaceutical Contract Sales Outsourcing Market

Increasing pressure on pharmaceutical companies to reduce costs and improve efficiency propelling the market growth for the pharmaceutical contract sales outsourcing market

The increasing demand on pharmaceutical businesses to increase efficiency and save costs is one of the main factors propelling the growth of the pharmaceutical contract sales outsourcing (CSO) industry. Pharmaceutical businesses can cut costs associated with keeping a specialized sales crew, including salary, benefits, and training fees, by outsourcing their sales activities to independent CSO providers. Furthermore, pharmaceutical businesses may enhance their sales and market share with the assistance of CSO providers, who give specialized sales experience and support. Leading pharmaceutical corporations throughout the world are leveraging venture capital to manage their financial portfolio by investing in early-stage and small-to-medium-sized CMOs that have significant room for expansion. • For instance, Novartis Venture Fund is a part of Swiss multinational Novartis. It manages more than $750 million in committed capital and has more than 40 portfolio companies across North America and Europe. These companies include in vivo cell reprogramming company Capstan Therapeutics, which launched in 2022. (Source:https://www.labiotech.eu/best-biotech/pharma-biotech-venture-capital-arms/ )

Cost control by emerging pharmaceutical companies expands the market growth 

For several years, up-and-coming specialist pharmaceutical companies have been seeking partnerships with well-established pharmaceutical behemoths to introduce their products. Big pharma companies want to work together because they need drugs that can enter their pipelines quickly and affordably. Some agreements range from selling all commercialization rights to licensing goods. Young pharmaceutical companies may build flexibility into their sales strategy right from the beginning by collaborating with a CSO. With the assistance of an experienced CSO partner, emerging businesses can quickly put together an agile, scalable, and responsive team to meet customer demands. This ensures that key market segments are serviced by the right sales personnel and that scaling up or down as the market demands doesn't negatively impact internal operations. • For instance, In July 2021, ICON plc a global provider of outsourced drug and device development and commercialization services to the pharmaceutical, biotechnology, medical device, and government and public health firms acquired PRA Health Sciences, Inc. The merger enhances the consulting, clinical, and commercial services portfolio, geographic presence, therapeutic capabilities, and data-powered healthcare technology of the ICON, which aims to provide internationally scaled expertise and solutions. (Source:https://www.iconplc.com/news-events/press-releases/icon-to-acquire-pra-health-sciences )

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