The "Global Therapeutics Market (2024 Edition): Analysis By Molecule Type (Biologics and Biosimilars, Small Molecules), By Therapeutic Area, By Region, By Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
A new market analysis report has been released examining the worldwide expansion of the therapeutics industry. The report dissects various segments including molecule type and therapeutic areas and projects a continued trajectory of growth for the market from 2020 to 2030.
Market Overview
The global therapeutics market has exhibited a noteworthy Compound Annual Growth Rate (CAGR) of 6.61% during 2020-2023. As of 2023, the market value stood at USD 686.97 billion and is anticipated to climb to USD 1.11 trillion by the year 2030. Key areas of study include the Americas, Europe, Asia Pacific, and the Middle East & Africa, with detailed insights into ten countries, including the United States, Canada, Germany, the United Kingdom, France, Italy, Spain, China, Japan, and India.
Rising Demand for Therapeutics
Global healthcare systems are facing increasing challenges due to prevalent chronic conditions such as cancer, cardiovascular diseases, and diabetes. Contributing factors to the market's growth are cited as the aging population, lifestyle changes, and environmental concerns which necessitate an augmented demand for therapeutic solutions.
Future Market Outlook
Profound growth is anticipated for the global therapeutics market, buoyed by an emphasis on innovation, the surge in personalized medicine, and the quest for cost-effectiveness. The industry is expected to face opportunities as well as challenges, such as the urgent need to combat antibiotic resistance with new treatments.
Industry Developments and Competitive Landscape
The report highlights strategic industry developments including mergers, acquisitions, and the introduction of new products. In this dynamic market landscape, the focus is on prominent global players that are steering innovation and market growth.
Strategic Insights
The research provides strategic insights through the utilization of SWOT analysis and Porter's Five Forces Analysis. Additionally, market attractiveness is assessed across various segments, assisting stakeholders in understanding the competitive scenario and identifying emerging market prospects.
This comprehensive market analysis is poised to serve as a resourceful guide for industry professionals, investors, and market participants in strategizing their market position and capitalizing on emergent opportunities.
Companies Featured
- Sanofi
- Cipla
- Pfizer
- GSK PLC
- Novartis AG
- Bayer AG
- Merck & Co., Inc.
- F. Hoffmann-La Roche AG
- Abbott Laboratories
- Gilead Sciences, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/etduxx
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View source version on businesswire.com: https://www.businesswire.com/news/home/20241008859459/en/
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