Mid-sized Pharmaceuticals Market Set for Robust Growth, Projected to Reach $935.65 Billion by 2028
Mid-Size Pharmaceuticals Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Mid-Size Pharmaceuticals Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, July 8, 2024 /EINPresswire.com/ -- The mid-sized pharmaceuticals market has exhibited strong growth, expanding from $678.75 billion in 2023 to $727.15 billion in 2024, at a compound annual growth rate (CAGR) of 7.1%. It will grow to $935.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.This growth trajectory is driven by various factors such as the expansion of the generic drug market, patent expirations of blockbuster drugs, healthcare cost containment measures, biotechnology advancements, and regulatory reforms promoting innovation.
Rising Demand for Value-Based Care Models Propels Market Expansion
The market is expected to continue its upward trend, reaching $935.65 billion by 2028, with a CAGR of 6.5%. This growth will be fueled by the increasing shift towards value-based care models, streamlined regulatory pathways, rising health awareness, patient empowerment, and the growing demand for generic and biosimilar drugs. Emerging trends include a focus on patient-centric approaches, adoption of artificial intelligence (AI) in pharmaceutical development, global market expansion strategies, environmental sustainability initiatives, and advancements in telemedicine and remote patient monitoring technologies.
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Key Players Driving Innovation in the Market
Leading companies in the mid-sized pharmaceuticals market include Baxter International Inc., Teva Pharmaceutical Industries Ltd., Otsuka Pharmaceutical Co Ltd., and others. These companies are actively involved in product development and launches aimed at enhancing precision medicine platforms and sustaining market competitiveness. For example, C4X Discovery Holdings PLC recently introduced PatientSeek, an innovative precision medicine platform designed to identify patients who can benefit most from specific medications based on genetic profiles.
Market Segmentation
1. Drug Development Type: In-House, Outsource
2. Type: Prescription, Over the Counter
3. Formulation: Tablets, Capsules, Injectables, Sprays, Other Formulations
4. Application: Cardiovascular Diseases, Pain Management, Diabetes, Cancer, Other Conditions
Regional Insights: Asia-Pacific Leading Growth
In 2023, North America dominated the mid-sized pharmaceuticals market, while Asia-Pacific is projected to emerge as the fastest-growing region during the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Mid-Size Pharmaceuticals Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Mid-Size Pharmaceuticals Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on mid-size pharmaceuticals market size, mid-size pharmaceuticals market drivers and trends, mid-size pharmaceuticals market major players, competitors' revenues, market positioning, and market growth across geographies. The mid-size pharmaceuticals market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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