Drug Designing: Open Access
Open Access
ISSN: 2169-0138
ISSN: 2169-0138
Market Analysis - (2020)Volume 9, Issue 2
We hope this Congress provides an excellent opportunity to share your best practice initiative, research project, or provide continuing education as it relates current topics and advances around the industries and field of pharmaceutical and therapeutic research.
Pharmaceutics Forum 2020 provides participants breakout sessions highlighting clinical projects, education, and research studies. This conference also includes interactive sessions and keynote panel discussions. The global market for natural & plant-derived drugs was valued at $23.2 billion in 2013 and $24.4 billion in 2014. This total market is expected to reach $35.4 billion in 2020, with a Compound Annual Growth Rate (CAGR) of 6.6% from 2015 to 2020.
Pharmaceuticals represented a US$300 bn-a-year market globally as of 2015 the World Health Organization states. The global pharmaceutical market is expected to surpass US$400 bn by 2018. Worldwide prescription drug sales forecasted to grow at a robust 6.5% (CAGR) through 2022 to reach $1.06trn.
The global advanced drug delivery market should grow from roughly $178.8 billion in 2015 to nearly $227.3 billion by 2020, with a compound annual growth rate (CAGR) of 4.9%.
The North American market should grow from nearly $75.7 billion in 2015 to $93.4 billion by 2020, a CAGR of 4.3%.
The European market should grow from roughly $57.3 billion in 2015 to nearly $72.1 billion by 2020, a CAGR of 4.7%.
Although mature markets continue to account for over half of all global revenue of the pharmaceutical industry, both large and niche pharmaceutical companies are now waking up to the lucrative potential that lies in growth markets Costs associated with bringing new to the commercial space are progressively rising. To add to this, new medicines launches have continued to chart a flat graph. This could, however, also be an enormous opportunity for pharmaceutical companies in both mature and growth markets.
Received: 02-Jul-2020 Accepted: 16-Jul-2020 Published: 23-Jul-2020
Copyright: This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.