The strong growth of the pharma market in China makes it attractive for international investors, according to the recent Pharmaceutical Drugs Market Global Report 2017 by The Business Research Company (TBRC).
In 2016, the pharmaceuticals market in China was valued at $155 billion, which was half the size of the market in the USA. TBRC projects the market to grow at the fast pace of 10% in the period from 2016 to 2020, which is the fastest among the countries presented in the report. Such strong growth can be explained by an aging population and busy lifestyles leading to increased numbers of cases of diabetes and cancer.
Other good opportunities for pharmaceuticals companies are available in India and Brazil. Both countries are forecast to show strong growth, at 9.6% and 7.8% growth rates, respectively.
In 2016, the pharmaceuticals market in India was valued at $27 billion. TBRC expects the market to grow by 1.5 times by 2020. Such rapid change is driven by the shifting lifestyles in the country. By 2030, India expects to have about 100 million diabetic patients due to the increase of sedentary job profiles in the country. This will drive the market for diabetic drugs.
The pharmaceuticals market in Brazil will reach close to $60 billion by 2020. The growth of the market will be driven by the healthcare industry in Brazil, which is undergoing profound transformation and experiencing new business dynamics, making the domestic market one of the most promising and attractive in the world.
Despite the USA holding the biggest market share in the global pharmaceuticals market, TBRC does not expect the pharmaceutical drugs market in the country to hit new records. In the historic period, the USA showed strong growth of 5.6%, while the forecast growth shows a slow down to 0.5% by 2020. The pharmaceuticals market in the USA will remain the biggest among other countries presented in the report. In 2016, the market was valued at $310 billion; it is expected to grow to $320 billion by 2020. The market is still fueled by a relatively high average spend by Americans on drugs, i.e. about $955 per annum, which is 5, 8, and 45 times more than the average spend on pharmaceuticals by Brazilians, Chinese, and Indians in a year.
Japan, on the other hand, as the third biggest pharmaceuticals market, shows a slow forecast growth of 3% compared to its historic growth of 5%. The market is expected to reach $126 billion in 2020, driven by the continuous expansion of Japanese pharmaceuticals companies on the global arena.
In the report, TBRC recommends that pharma companies increase the level of merger deals across the industry to sustain organizations in an increasingly competitive environment. By following this strategy, companies will be able to develop innovative products, services, and solutions as well as sharing skills and expertise. For example, Abbvie has announced a collaboration with Google-backed life sciences firm Calico for establishing a research and development facility for the discovery of drugs and the development of therapies for patients with age-related diseases, such as cancer.
Where to Learn More
Read Pharmaceutical Drugs Market Global Report 2017 from The Business Research Company for information on the following:
Markets Covered: Cardiovascular Disorders, Dermatology, Gastrointestinal Diseases, Genito-Urinary Disorders, Hematology, Infectious Diseases, Metabolic Disorders, Musculoskeletal Disorders, Central Nervous System, Oncology, Ophthalmology, Respiratory Diseases
Companies Mentioned: Johnson & Johnson, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., and Sanofi
Countries: Brazil, China, France, Germany, India, Italy, Japan, Spain, Russia, UK, USA, and Australia.
Time Series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP, Expenditure Per Capita, the Pharmaceutical Drugs Indicators Comparison.
Data Segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Interested to know more? Here is a full scope of pharmaceuticals and biologics market reports to explore:
- Anti-infective Drugs Market Global Report 2017
- Cardiovascular Drugs Market Global Report 2017
- Central Nervous System Drugs Market Global Report 2017
- Dermatology Drugs Market Global Report 2017
- Genito-urinary Drugs Market Global Report 2017
- Hematology Drugs Market Global Report 2017
- Metabolic Disorder Drugs Market Global Report 2017
- Musculoskeletal Drugs Market Global Report 2017
- Ophthalmology Drugs Market Global Report 2017
- Gastrointestinal Drugs Market Global Report 2017
- Respiratory Diseases Drugs Market Global Report 2017
- Biologics Market Global Report 2017
- Oncology Drugs Market Global Report 2017
About the Author: Ravikiran has 10 years of research experience in biotechnology. He worked extensively with such companies/institutions as Ernst and Young (EY), DuPont, and Center for Cellular & Molecular Biology (CCMB), Hyderabad.
The projects Ravikiran was involved in while working at EY and DuPont were related to industrial biotechnology. During his academics, he also completed projects in vaccine development and plant biotechnology.
Ravikiran holds bachelor’s and master’s degrees in biotechnology and a certification in clinical research from the Institute of Clinical Research India (ICRI). In 2006, he also finished an advanced course in bioinformatics at the Indian Institute of Chemicals Technology (IICT), Hyderabad.