Pharmaceuticals
- Pharmaceutical industry is expected to experience continued growth due to aging population, technological advancements and focus on specialty drugs.
- The industry is also expected to experience a shift towards more personalized and targeted treatments, with a focus on precision medicine and gene therapy.
Overview
- Market size:
- The global pharmaceutical industry is a significant and growing market. In 2022, global pharmaceutical revenues reached an estimated $1.48 trillion USD.
- The global pharmaceutical manufacturing market size was USD 516.48 billion.
- The industry is expected to grow at a CAGR of 7.63% from 2022 to 2028.
- Challenges:
- Pricing pressures
- Innovation hurdles
- Supply chain concerns
- Sustainability issues