Twopip Research

Ethical Pharmaceuticals Global Market Report 2024

The global ethical pharmaceuticals market has grown rapidly in recent years. It will grow from $6.43 billion in 2023 to $7.23 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. Historical growth can be attributed to advancements in drug innovation and discovery, the evolution of regulatory frameworks, the continued use of traditional drug therapies, the prevalence of chronic diseases, and substantial investments in research and development.The global ethical pharmaceuticals market is expected to see rapid growth in the next few years. It will grow to $11.77 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The anticipated growth in the forecast period is propelled by advancements in precision medicine, the evolution of biologics and advanced therapies, continuous innovations in biopharmaceuticals, shifts in the regulatory landscape, and the integration of digital health solutions. Major trends expected during this period include a dedicated focus on precision medicine, the digitization of healthcare and expansion of remote care services, the development of precision drug delivery systems, leveraging real-world evidence in clinical trials, and fostering collaborative research through strategic partnerships.The increasing prevalence of chronic diseases stands as a primary driver propelling the growth of the ethical pharmaceutical market. Chronic conditions, such as diabetes, cancer, and heart disease, require ongoing medical care and long-term treatment, thereby boosting the demand for ethical pharmaceutical drugs. For instance, reports from the Centers for Disease Control and Prevention (CDC) reveal that over 130 million individuals in the US have diabetes or prediabetes as of 2019. Moreover, chronic diseases are estimated to increase by 57% from 2020, contributing to 71% of global annual fatalities. This trend underlines the expected growth in demand for ethical pharmaceuticals due to rising chronic disease prevalence.The surge in healthcare expenditures is anticipated to drive the growth of the ethical pharmaceutical market. Increased healthcare spending leads to advancements in patient access to high-quality pharmaceutical treatments. This upsurge in healthcare expenses aligns with the ethical pursuit of providing quality medical care. For instance, in 2021, healthcare spending in the United States rose by 2.7% to $12,914 per person, totaling $4.3 trillion. This increase signifies the potential for a corresponding rise in demand for ethical pharmaceuticals.Technological advancements are gaining prominence in the ethical pharmaceutical market, with major companies introducing innovative drugs like Sugmadex. BDR Pharma and Varenyam Healthcare, India-based pharmaceutical companies, jointly launched Sugmadex, a pioneering reversal agent featuring unique beta-cyclodextrin neuromuscular block (NMB) reversal properties. Sugmadex aims to address current anesthetic practice limitations and is available in single-dose vial sizes of 2 and 5 milliliters.Major companies in the ethical pharmaceutical market are intensifying their focus on procurement programs to enhance their competitive position. GlaxoSmithKline PLC, a UK-based pharmaceutical company, introduced a Sustainable Procurement Programme for its suppliers, slated to commence in 2023. This initiative aims to minimize the environmental impact of the pharmaceutical industry's supply chain by encouraging suppliers to act on carbon reduction, sustainable sourcing, waste management, and deforestation-free materials, acknowledging the resource-intensive nature of pharmaceutical manufacturing processes.In March 2022, Pfizer, a leading US-based pharmaceutical company, finalized the acquisition of Arena Pharmaceuticals for a substantial $6.7 billion. This strategic move is geared towards leveraging Arena Pharmaceuticals' pipeline to bolster Pfizer's portfolio in the field of inflammation and immunology therapeutics. The acquisition aims to enhance Pfizer's research and development efforts, focusing on advancements that could significantly impact the lives of individuals grappling with immuno-inflammatory diseases. Arena Pharmaceuticals, also based in the USA, brings valuable assets and expertise in the pharmaceutical domain. Pfizer's acquisition of Arena Pharmaceuticals is poised to amplify its capabilities and commitment to pioneering treatments in the realm of immuno-inflammatory diseases, fostering transformative developments for patients globally.Major companies operating in the ethical pharmaceuticals market report are Johnson & Johnson Services Inc., GlaxoSmithKline PLC, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Novartis AG, AstraZeneca PLC, Bristol-Myers Squibb Company, Eli Lilly and Company, Mylan NV, Pfizer Inc., Sanofi S.A., AbbVie Inc., Amgen Inc., Biogen Inc., Boehringer Ingelheim International GmbH, Celgene Corporation, Gilead Sciences Inc., Novo Nordisk A/S, Regeneron Pharmaceuticals Inc., Roche Holding AG, Takeda Pharmaceutical Company Limited, Abbott Laboratories, Bayer AG, Daiichi Sankyo Company Limited, Eisai Co. Ltd., Ipsen Biopharmaceuticals Inc., Kyowa Kirin Co. Ltd., Mallinckrodt Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Amarin Corporation PLC, Vertex Pharmaceuticals Incorporated, and Aimmune Therapeutics Inc.North America was the largest region in the ethical pharmaceutical market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ethical pharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ethical pharmaceuticals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.The primary categories within ethical pharmaceutical markets encompass lipid regulators, narcotic analgesics, ACE inhibitors, respiratory agents, diuretics, calcium antagonists, hormonal contraceptives, penicillin, vitamins, and minerals. Lipid regulators, for example, alter lipid metabolism and are crucial in managing cardiovascular health, particularly in reducing the risk of events like heart attacks and strokes. These include substances like HMG-CoA reductase inhibitors, commonly known as statins. Distribution channels for these pharmaceuticals involve hospital and retail pharmacies, among others. They find applications across various healthcare settings such as hospitals, clinics, and pharmaceutical companies, serving as essential components in managing different health conditions and improving overall well-being.This report provides ethical pharmaceutical market statistics, including ethical pharmaceutical industry global market size, regional shares, competitors with an ethical pharmaceutical market share, detailed ethical pharmaceutical market segments, market trends and opportunities, and any further data you may need to thrive in the ethical pharmaceutical industry. This ethical pharmaceutical market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.The ethical pharmaceutical market includes revenues earned by entities from pharmaceutical commodities and services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.This product will be delivered within 3-5 business days.