Global Prescription Drugs Market

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Global Prescription Drugs Market

The Global Prescription Drugs Market size is expected to reach US$ XX Mn. by 2026 from US$ XX Mn. in 2019, at a CAGR 8.5% during the forecast period.

Global Prescription Drugs Market

The report focuses on prescription drug market value at the top regions and countries of the world, which shows a regional development, including market size, share, revenue, and much more across the globe. The report has covered, capacity, production value, cost/profit, and supply/demand by statistical analysis. A brief analysis of drivers, restraints, opportunities, and challenges in the market is also covered with examples by region. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. It also has covered the analysis of key player’s growth strategies, micro and macro analysis of markets, key developments, and key trends in the market.
Global Prescription Drugs Market Dynamics:

Stringent regulation supports the growth of the global prescription drugs market, thanks to the reports revealed by the Food And Drug Law Institute, in the US, the Federal Food, Drug, and Cosmetic Act (FDCA) and Title 21 of the Code of Federal Regulations Part 202 (21 CFR Part 202) mainly govern prescription drug advertising and promotion. Besides that, in Chile, prescription drug advertising and promotion is monitored and regulated by the Agencia Nacional de Medicamentos (ANAMED), also recognized as the National Drug Agency. ANAMED is a part of the Institute of Public Health (ISP) and is responsible for the control of pharmaceuticals, cosmetics, and medical devices, guaranteeing their quality, safety, and effectiveness.

The increasing launches of the generic equivalents of numerous key drugs in developed markets such as the U.S., because these generics are often as efficient as their original counterparts. Patients without access to costly prescription products due to financial hurdles can often adopt these drugs and experience better clinical conclusions. For example, in 2019, the U.S. FDA announced that they had given 1,171 generic drug approvals out of which 935 were full approvals and 236 were tentative approvals.

The high costs associated with many prescription drugs, due to the increasing incidence of critical diseases such as cancers, and cardiovascular diseases worldwide, and the higher prevalence of these conditions in developing regions such as Africa, Latin America, and Asia. For instance, Abiraterone used in the treatment of prostate cancer can cost the patient US$ 10,000/ month at its lowest and not even cure the disease.
Global Prescription Drugs Market Segment Overview:

By therapy, the prescription drugs market is segmented into oncology, anti-diabetics, vaccines, sensory organs, immunosuppressant, anticoagulants, and others. Among these, the oncology segment is expected to hold the largest market share of the global market, because of the increasing prevalence of cancer, and the high costs attributed to the treatment of several forms of cancer. The anti-diabetics segment is also expected to grow at the highest CAGR of XX% during the forecast period, due to the increasing prevalence of diabetes, and other lifestyle-associated diseases.

Based on the distribution channel, the prescription drugs market is segmented into retail pharmacies, hospital pharmacies & drug stores, and online pharmacies. The hospital pharmacies & drug stores segment is held the largest market share of the global market in 2019 and is expected to retain its steady position during the forecast period (2020-2026).This is mainly because the therapeutics indicated under prescription drugs can often be only prescribed in hospital settings under the guidance of trained medical professionals. A large number of availabilities of over-the-counter drugs, together with the growing need for daily medications such as anti-diabetics, are otherkey factors accountable for the growth of the hospital pharmacies & drug stores segment in the forecast period (2020-2026).

Global Prescription Drugs Market

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Global Prescription Drugs Market Regional Insights:

Global Prescription Drugs Market1

North America is expected to hold the largest market share for the prescription drugs market by 2026. This growth is attributed to the stringent regulations on the promotion and advertising of prescription drugs.Also, the increasing demand for efficient and advanced products in North Americaparticularly due to the high prevalence of several chronic diseases. These factors, along with high healthcare expenditure, strong R&D for drugs in North America, and the presence of key companies in North America involved in the production of generic equivalents of key drugs.

Europe is the second-largest market in the global market, thanks to the increased demand for innovative prescription products and the product launches of efficient prescription products including orphan drugs. Also, Asia-Pacific is expected to hold the highest CAGR of XX% during the forecast period (2020-2026). This is mainly because of the new launches of key products in Asia-Pacific and the strong demand for prescription drugs.

The objective of the report is to present a comprehensive analysis of the Global Prescription Drugs Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Prescription DrugsMarket dynamics, structure by analyzing the market segments and project the Global Prescription Drugs Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Prescription Drugs Market make the report investor’s guide.
Global Prescription Drugs Market Scope: Inquire before buying

Global Prescription Drugs Market2
Global Prescription Drugs Market, by Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Prescription Drugs Market Key Players

• Novartis AG
• Pfizer Inc.
• F.Hoffmann-La Roche Ltd
• Sanofi
• Johnson & Johnson Services, Inc.
• Merck & Co., Inc.
• Abbvie, Inc.
• AstraZeneca
• GlaxoSmithKline plc.
• CELGENE CORPORATION (BRISTOL-MYERS SQUIBB COMPANY)
• Lupin Pharmaceuticals, Inc.
• Dr Reddy’s Laboratories Ltd
• Allergan
• Shire
• Boehringer Ingelheim
• Takeda
• Eli Lilly
• Myers Squibb
• AbbVie
• Gilead Sciences
• Teva
• Novo Nordisk
• Amgen
• Roche

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