Pharmerging Market Size Worth $2.1 Trillion By 2025 | CAGR: 15.7%
Published Date : 19 / 07 / 18 | Report Format: PDF
The global Pharmerging market is expected to grow at growth rate of 15.7% to reach USD 2,106.9 billion by 2025.
The pharmerging industry covers the study for developing countries where the use of pharmaceuticals is rapidly growing and is projected to experience strong growth in the future period. Countries such as China, India, Brazil, Russia, and South Africa among others are considered under the research scope. Drug spending in these economies is increasing at a constant rate, making them attractive targets for drug manufacturers to invest in. For example, the Chinese government is planning to spend over USD 120 billion for healthcare services for its 1.3 billion population over the next 10 years. Also, economies such as India, Brazil, and Russia are constructing and upgrading new hospitals in urban centers to cater to unmet medical needs. These facts would, in turn, boost the spending on healthcare services, establishing the healthy platform for the industry growth.
There is a constant rise of people affected by chronic disorders due to the lifestyle changes. The number of cardiovascular, cancer, respiratory and diabetes patients are increasing monumentally. For example, cardiovascular conditions such as strokes, coronary heart disease, rheumatic heart disease, and cardiomyopathy are expected to be the major causes of mortality and morbidity in developing countries across the world. As per the World Health Organization statistics, more than 80% of cardiovascular deaths occur in low to middle-income countries. Additionally, an aging population, higher standards of living and advancement in technologies in the medical sector have led to a sharp increase in life expectancy. As a consequence, longer-lived individuals will create upward pressure on demand for pharmaceuticals & healthcare services.
- Product types comprise of Pharmaceuticals and Healthcare. Of these, pharmaceuticals accounted for the highest share in terms of value. However, it is analyzed that healthcare products are anticipated to grow with lucrative growth rate.
- In 2017, generic pharmaceuticals recorded USD 198.7 billion and the segment is projected to grow with strong CAGR during the future period
- Among the different economies considered, China (Tier I) has captured major revenue share (over 52% of the worldwide market) owing to the rising chronic disease incidences, large patient pool, and increasing demand for medical services.
- Drug spending in China is majorly focused on non-branded generic therapeutics which is projected grow at double the rate of branded therapeutics. According to China’s Ministry of Finance (MOF), healthcare expenditure in the country has increased by 10% in 2016.
- Tier II category include a detailed study for BRICS countries (except China) such as India, Russia, Brazil and South Africa. India and Brazil collectively accounted for over 60% revenue share of the countries considered under Tier II economy.
- Tier III includes extensive qualitative and quantitative study for Turkey, Poland, Mexico, Argentina, Thailand, and Saudi Arabia.
- Companies namely Pfizer, Inc., AstraZeneca, Roche, GE Healthcare, and Medtronic are actively operating in this industry. These companies are increasingly investing in research and development activities to develop new products.
- In a meantime, growing demand for effective pharmaceuticals in pharmerging economies could be boon for generic therapeutic-focused companies like Teva Pharma, Abbvie, & Mylan
KEY BENEFITS OF THE REPORT:
- In-depth analysis of the key market dynamics
- Granular analysis of the current market scenario and expected factors to affect the market
- Detailed analysis of the geographic region, regional and county wise analysis
- Highlight on the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the market
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT TYPES
- Medical Devices
- In-Vitro Diagnostics
MARKET, BY REGION
- Tier I
- Tier II
- South Africa
- Tier III
- Saudi Arabia
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