Global Pharmerging Market Growth Drivers, Opportunities and Challenges 2027

Summary - A new market study, titled “Pharmerging Market, By Product Types (Pharmaceuticals and Healthcare), By Geography (Tier I, Tier II and Tier III ) – Analysis, Share, Trends, Size, & Forecast From 2016 – 2027- COVID- 19 Updated” has been featured on WiseGuyReports.

REPORT HIGHLIGHT

The Pharmerging market is estimated to represent a global market of USD 690.3 billion by 2019 with growth rate of 18.8%.

Market Dynamics

The pharmerging industry covers the study for developing countries where the use of pharmaceuticals is rapidly growing and is projected to experience strong growth in the future period. Countries such as China, India, Brazil, Russia, and South Africa among others are considered under the research scope. Drug spending in these economies is increasing at a constant rate, making them attractive targets for drug manufacturers to invest in. For instance, as per the International Federation of Pharmaceutical Manufacturers & Associations, pharmerging economies account for around 50% of absolute growth in drug spending every year.

There is a constant rise of people affected by chronic disorders due to the lifestyle changes. The number of cardiovascular, cancer, respiratory and diabetes patients are increasing monumentally. For example, cardiovascular conditions such as strokes, coronary heart disease, rheumatic heart disease, and cardiomyopathy are expected to be the major causes of mortality and morbidity in developing countries across the world. As per the World Health Organization statistics, more than 80% of cardiovascular deaths occur in low to middle-income countries. Additionally, an aging population, higher standards of living and advancement in technologies in the medical sector have led to a sharp increase in life expectancy. As a consequence, longer-lived individuals will create upward pressure on demand for pharmaceuticals & healthcare services. All such facts would in turn open up a new market for healthcare treatment that have traditionally been targeted at developed region patients.

COVID-19 Impact

The sudden challenges created by the ongoing COVID-19 outbreak are well-captured to exhibit the long term pharmerging market growth projections. The pharmerging industry growth sectors are identified with precision for a better growth perspective considering the political, economical and social impact of COVID-19 virus ourbreak.

Product Types Takeaway

In terms of product types, the industry is divided into Pharmaceuticals and Healthcare. Pharmaceuticals segment is further categorized as Patented, Generic and Over-the-Counter Therapeutics. In 2017, generic pharmaceuticals recorded USD 198.7 billion and the segment is projected to grow with strong CAGR during the future period. Healthcare segment is bifurcated as Medical Devices, In-Vitro Diagnostics, and others.

Also Read:https://www.einnews.com/pr_news/523812634/pharmerging-market-global-industry-analysis-by-size-share-growth-trends-and-forecast-2020-2026

Regional Takeaway

Geographically, the industry is broadly categorized into Tier I, Tier II and Tier III economies. Chinese pharmerging market covers under the Tier I category which is considered one amongst the highest revenue generating country. In 2017, this category has captured over 52% of the worldwide market. According to China’s Ministry of Finance (MOF), healthcare expenditure in the country has increased by 10% in 2016. Due to this fact, out-of-pocket spending for healthcare needs in China has decreased, as the penetration of insurance has increased. As of 2015, almost 95.0% of the population is enrolled in at least one public health insurance scheme.

Tier II category include a detailed study for BRICS countries (except China) such as India, Russia, Brazil and South Africa. India and Brazil collectively accounted for over 60% revenue share of the countries considered under Tier II economy. As per the Pharmaceutical Export Promotion Council of India (PHARMEXCIL), the national pharmaceutical exports are projected to reach USD 20 million by 2020. The Indian pharmaceutical sector is highly fragmented with the presence of more than 15,000 manufactures. Tier III includes extensive qualitative and quantitative study for Turkey, Poland, Mexico, Argentina, Thailand, and Saudi Arabia. These countries represent a wide range of incomes, and GDP Mexico recorded USD 22.9 billion in 2017 and is projected to grow by over 8% CAGR during the study period.

Key Vendor Takeaway

Companies namely Pfizer, Inc., AstraZeneca, Roche, GE Healthcare, and Medtronic are actively operating in this industry. Attributes such as company overview, financials, product benchmarking and key initiatives were discussed separately. Key players are engaged in strategic collaborations to capture untapped market opportunities. For instance, in July 2017, AstraZeneca collaborated with Merck, Inc. to potential cancer therapeutic, MEK and PARP inhibitors in combination with PD-L1 medicines.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2016 to 2018

Base Year – 2019

Estimated Year – 2020

Projected Year – 2021-2027

TARGET AUDIENCE

The scope of this report covers the market by its major segments, which include as follows:

PHARMERGING MARKET, BY PRODUCT TYPES

Pharmaceuticals

Patented

Generic

Over-the-Counter

Healthcare

Medical Devices

In-Vitro Diagnostics

Others

PHARMERGING MARKET, BY REGION

Tier I

China

Tier II

India

Russia

Brazil

South Africa

Tier III

Turkey

Poland

Mexico

Argentina

Thailand

Saudi Arabia

FOR MORE DETAILS:https://www.wiseguyreports.com/reports/5641652-pharmerging-market-by-product-types-pharmaceuticals-and-healthcare

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