The study, published by Transparency Market Research, suggests demand for pharmaceutical products will continue to grow during the next few years. Researchers partially attribute this trend to icreased demand for branded and generic drugs.
The study also states hospitals, clinics, retail pharmacies and drug stores will continue to represent key distribution channels. Researchers suggest the increase in government investment in medication accessibility will allow health facilities to remain the primary distribution channel for pharmaceutical companies.
Study analysis also revealed the Asia Pacific regional market, which maintained 53 percent of the global market share in 2016, will continue to dominate the industry over the next decade, according to the report. The emerging pharmaceutical markets in Europe and Latin America are also expected to experience a substantial rise in the near future due to advancements in technology.
Researchers found the leading players in the industry — Johnson & Johnson, Novartis AG and Merck — will continue to strengthen their market presence through research and development and become increasingly involved in mergers and acquisitions in the industry, according to the report.
Editor’s Note: The original article referred to the pharmerging market as the ‘global pharmaceutical market.’ Pharmerging refers to the key georgraphies in which the buying and selling of pharmaceuticals has increased in recent years. Becker’s regrets the error.
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