World pharmaceutical market distribution by submarket 2014 2023. distribution of the total global pharmaceutical market sales from 2014 to 2023, by submarket. premium statistic. The global pharmaceutical market size was estimated at usd 1,482.0 billion in 2022 and is expected to grow at a compound annual growth rate (cagr) of 6.12% from 2023 to 2030. the pharmaceutical industry is witnessing growth due to factors such as the increasing chronic disease prevalence, rising geriatric population, increasing healthcare.
The pharmaceuticals market worldwide is projected to grow by 4.71% (2024 2029) resulting in a market volume of us$1,454.00bn in 2029. The report forecasts global spending on medicines to reach $1.9tn by 2027, with covid 19 vaccines and therapeutics excluded. it also analyzes the trends and drivers of medicine spending by region, therapy area, and innovation. Research expert covering health, pharma & medtech. get in touch with us now. , may 22, 2024. the global pharmaceutical market has experienced significant growth in recent years. for 2023, the. The covid 19 pandemic continues to impact pharmaceutical markets globally, and is estimated to expand the net cumulative pharmaceutical market by $500 billion from 2020 through 2027 ; highest volume growth is expected in latin america, asia and africa, driven by a mix of population growth and expanded access.
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