The global pharmerging market is currently valued at almost USD 420 billion and is expected to reach around USD 683 billion by 2021.
Technavio has announced its latest market research report on the global pharmerging market, under its cardiovascular and metabolic disorders portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like AstraZeneca, GlaxoSmithKline, Pfizer, Sanofi, and Novartis.
According to Barath Palada, a lead analyst for cardiovascular and metabolic disorders research at Technavio, “The global pharma market is currently experiencing a shift from primary care therapeutics towards specialty care biologics. The shift is spurred by the increasing demand for biomsimilars owing to their higher efficacy and safety.”
Pharmerging markets are increasingly becoming the favorite destination for the development of biosimilars owing to the availability of cheap manufacturing resources such as land and labor. Furthermore, the on-going strong market growth in therapeutic areas such as oncology also drives the pharmerging market value.
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Potential of new countries in emerging markets
Mexico is one offers immense growth opportunities for pharmaceutical companies. Factors such as rising disposable income, higher public expenditures, and increased prevalence of chronic medical conditions fuels the strategic initiatives in Mexico. The expanding territory of pharmerging nations is expected to foster the growth of the global pharmerging market during the forecast period.
Positive outlook toward adoption of targeted therapies
The adoption of targeted therapies is expected to witness substantial upward momentum, spurred by the growing incidence of chronic diseases such as cancer, which require specific therapies. Research studies carried out across the geographies demonstrates that targeted therapy increases the survival rate and the cure rate in cancer patients. These drugs are expected to work effectively in the treatment of various cancers such as lung cancer, breast cancer, chronic myeloid leukemia, and lymphomas.
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This market study report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this market research report. This market study also provides a detailed analysis of key drivers, challenges, and opportunities that have a direct influence on the market scenario.
A more detailed analysis is available in the Technavio report titled, ‘Global Pharmerging Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Interventional Cardiology Market 2017-2021
- Global Compression Therapy Market 2017-2021
- Global Immunodiagnostics Market 2017-2021
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