The pharmaceutical industry develops drugs to diagnose,
cure, treat or prevent diseases. Pharmaceutical companies produce both generic
and branded drugs. The pharmaceutical market and drug industry at large is
subjected to various laws and regulations that deal with patenting, testing,
safety, efficacy and marketing. Pharmaceutical drugs are intended for human or
veterinary use presented in their finished dosage form.
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If we have a look at global pharmaceutical industry overview
of the pharmaceutical
industry data, it shows that this market was worth more than $900
billion in 2017 and has grown at a CAGR of more than 5% during 2013-2017. The
market is expected to grow at a CAGR of about 5.5% during 2017-2021 due to
growth of global population and increasing healthcare awareness. This is the
potential pharmaceutical market size.
The pharmaceutical market is segmented into Musculoskeletal
Disorders Drugs, Cardiovascular Drugs, Oncology Drugs, Anti-Infective Drugs,
Metabolic Disorder Drugs, Central Nervous System Drugs, Genito-Urinary Drugs,
Respiratory Diseases Drugs, Gastrointestinal Drugs, Hematology Drugs,
Dermatology Drugs, and Ophthalmology Drugs.
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After a pharmaceutical industry analysis of
the latest pharmaceutical industry data, TBRC’s report shows that Musculoskeletal
Disorders Drugs was the largest segment in the pharmaceutical drugs market at approximately
15% of the market share, worth about $130 billion. This size of this market can
be attributed to the large old age population and the prevalence of old
age-related diseases such as rheumatoid arthritis, osteoarthritis among them.
According to the United Nations, the number of people aged 60 years or over
increased from 607 million in 2000 to 901 million in 2015.
The Musculoskeletal Disorders Drugs segment is expected to
grow at a CAGR of more than 9% during 2017-2021. The rapid growth in the market
can be attributed to the growing diabetic population worldwide, and increasing
academia-industry collaborations to develop new drugs for treatment of
metabolic disorders.
Companies included in the report are Novartis AG, Sanofi
S.A., F. Hoffmann-La Roche Ltd., Pfizer Inc., and Gilead Sciences, Inc.
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