Global Pharmerging Market

Pharmerging Market Size, Share, Growth Analysis, By Distribution Channel(Online, Offline), By Product Type(Pharmaceuticals, Healthcare Products) - Industry Forecast 2024-2031

Report ID: SQMIG35I2265 | Region: Global | Published Date: July, 2001
Pages: 157 | Tables: 61 | Figures: 75

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Pharmerging Market size was valued at USD 1.48 trillion in 2019 and is poised to grow from USD 1.56 trillion in 2023 to USD 3.21 trillion by 2031, growing at a CAGR of 8.98% in the forecast period (2024-2031).

The pharmerging market is fairly competitive with the presence of well-known market players such as Sanofi S.A., F. Hoffman-La Roche AG, and Johnson & Johnson. Major players are focusing on product launches, merger & acquisition, collaborations, and partnerships as key strategies for the expansion for their product portfolio and reach to large consumer base. 'Sanofi S.A.', 'Pfizer Inc.', 'AstraZenece Plc', 'GlaxoSmithKline plc', 'F. Hoffmann-La Roche AG', 'Merck & Co., Inc.', 'Novartis International AG', 'Johnson & Johnson Services, Inc.', 'Bristol-Myers Squibb Company', 'Bayer AG', 'AbbVie Inc.', 'Eli Lilly and Company', 'Takeda Pharmaceutical Company Limited', 'Boehringer Ingelheim GmbH', 'Novo Nordisk A/S', 'Astellas Pharma Inc.', 'Daiichi Sankyo Company, Limited', 'Shire plc', 'Biogen Inc.', 'Otsuka Holdings Co., Ltd.'

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 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.

Increasing R&D activities in biotechnology, immunology, cancer, and other sectors are fueling the market expansion across the world. Major companies of the industry are mainly focusing on the development of latest technology products for the ease of use and comfort for consumers. And, a rapid growth in the population across the world has led to increase in disease, which has resulted positively to the pharmerging market.

Asia Pacific dominated the 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.

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