Pharmerging Market Regional Analysis

Asia Pacific dominated the global market with over 61% of market share in 2021 owing to increase in patent expiration, spike on medical research investments, and rising urbanization in the region. Furthermore, increased penetration of insurance policies and the presence of major companies with a wide range of product portfolio is expected to boost the region's growth in the near future. Among the various nations contributing to the regional growth, China dominated the region with a hike in the demand for pharmerging products in the recent years.

The North American region is predicted to grow at a healthy CAGR during the forecast period. Extensive research & development, management of health care facilities, technological advancement, and rising awareness among consumers are propelling the market growth in the region. Moreover, due to the large population size and increasing prevalence of several disease is expected to have a positive impact on the demand and growth of the market. According to our findings, more than 50 million people in the U.S. are suffering from chronic pain and around 88% of them have pain in two or more different areas of their body.