World鈥檚 Top Pharmaceutical Markets Expect Further Growth

The global pharmaceutical industry has enjoyed continuous growth over the last few decades, mainly attributed to increasing pharmaceutical sales from some of the world鈥檚 top pharmaceutical markets, namely the US, China, Japan, and several leading economies in the EU. It is expected that these leading markets will remain the backbone of the global pharmaceutical industry and continue to drive the global market with further growth.

 

Pharmaceutical sales by country

 

According to a recent report from the QuintilesIMS Institute, total pharmaceutical sales across the globe was estimated around US$1.37 trillion in 2016, and this figure is expected to reach $1.5 trillion by 2021 on an invoice price basis. Most of the sales growth in the global pharmaceutical market, particularly in world鈥檚 top pharmaceutical markets, is forecast to be driven by the increasing treatment demand for oncology, autoimmune diseases and diabetes. The US, China, Japan, and leading economies in the EU will continue to be the leader of the global pharmaceutical market over the next five years.

 


Must read: UK鈥檚 Pharmaceutical Industry Warns Brexit Could Put Patients at Risk


 

Currently, the US is the world鈥檚 largest pharmaceutical market, registering a growth rate of 6.9% over the past five years and expected to grow by 6鈥9% over the next five years. The growth of the pharmaceutical industry in the US is expected to be driven by original brands with new medicines. The report also suggests that the share of new medicines for global sales will continue to rise from less than 20% ten years ago to 30% in 2016, and to 35% by 2021, approaching half of total spending in the US.

 

The state of聽China’s pharmaceutical industry in 2017

 

As the world鈥檚 second largest pharmaceutical market, but with the fastest growth rate, China has broadly kept pace with the US. China has overtaken Japan since 2012 to become the world鈥檚 second largest pharmaceutical market. Over the recent years, China continued to grow at double-digit growth rates until 2015 when it slowed to 5.6% following a series of price cuts. China is expected to grow at a more modest 5鈥8% rate to 2021 when it鈥檚 pharmaceutical sales will reach US$140鈥170 billion, mainly driven by the rapid urbanization and soaring population.

 

The future of the world’s top pharmaceutical markets

 

Apart from the US and China, the world鈥檚 top pharmaceutical markets also include Japan, Germany, Italy, U.K., France, Spain, Canada, South Korea and Australia. Japan and France are projected to have a slightly slower growth rate over the next few years, due to significant government focus on the price, associated volumes and overall spending of innovative medicines. It is expected that the top 10 world鈥檚 largest pharmaceutical markets will grow on average by 4鈥7% over the next four years, and represent 67% of global pharmaceutical sales in 2021, that share down projecting to be slightly from 68% in 2016. What do you think the future of the world’s top pharmaceutical market will look like?

 


Must read: Indian Pharmaceutical Exports to the US to Increase Despite Pricing Pressure


 

Thousands of the world鈥檚 leading pharmaceutical companies can be in your contact list if you join 91制片厂 today. Whether you are looking for reliable suppliers, top manufacturers, wholesalers and potential customers in over 70 countries, or want to find out what your competitors are buying and which suppliers they鈥檙e using, 91制片厂 can help you reach out to sales prospects and decision-makers across the globe.

Want exclusive insights for 30M+ Companies? Target the right companies with 91制片厂's supplier and sales intelligence tools! Get Started>>

x