Pharmerging Market Trends

Pharmerging Market Drivers

• High prevalence of a variety of chronic diseases, as well as rising consumer knowledge of early detection of disease and treatment processes, continue research and development, and rising life expectancy are the major factors driving the growth of global pharmerging market over the forecast period. Furthermore, Increased consumer awareness towards pharmerging and government initiatives in the emerging economies such as India, China, and Indonesia.
• Moreover, growing number of insurance companies offering a variety of insurances to minimize the pharmerging expenses is driving up pharmaceutical demand across the globe. For instance, Hexvix, a drug used for bladder cancer diagnosis, has been included in the 2022 edition of the Lecheng Global Specialty Drug Insurance Drug List.

Pharmerging Market Restraint

• However, concerns associated with IP protection and socio-political issues in cross-border transactions and strict pricing control might cause value erosion and limit the market expansion in the coming years. Moreover, hard approval process from the government regulatory bodies for the use of pharmaceuticals in the market can hamper the market growth over the forecast period.