Mid sized pharmaceutical Market Scope (2021-2031)
The mid-size pharmaceutical market size is projected to reach US$ 1,224.039 billion by 2031 from US$ 732.02 billion in 2023. The market is expected to register a CAGR of 8.9% during 2023–2031. Greater focus on R&D will likely remain a key trend in the market.
Mid-Size Pharmaceutical Market Analysis
The growth of the market is defined by key driving factors such as the rising geriatric population across the globe along with the increased prevalence of chronic disorders. Moreover, increased urbanization has increased government expenditures on the healthcare sector. Furthermore, the rising number of healthcare start-ups will likely offer opportunities to the mid-size pharmaceutical market in the coming years.
Mid-Size Pharmaceutical Market Overview
The aging population and changes in social behavior contribute to the steady increase in these common and costly long-term health problems. With the accelerating urbanization, people are adopting a more sedentary lifestyle. This boosts obesity rates and cases of illnesses such as diabetes. According to the World Health Organization, the prevalence of chronic diseases is projected to increase by 57% by 2026. Emerging markets will be hit hardest, as population growth is expected to be the strongest in developing countries. Increasing demand for healthcare systems due to chronic illnesses has become a significant concern.
Diabetes is one of the biggest global health problems of the 21st century. Every year, more and more people develop this condition, causing life-changing complications. According to the International Diabetes Federation (IDF), the number of people with diabetes in North America was about 46 million in 2019 and is projected to increase to 62 million by 2045. The increase in disease prevalence is about 35% over the predicted period. The Pandemics have tested the rate at which infections unfold throughout the globe. Pandemics exert periodic and enormous disruptive strains on fitness systems. Healthcare establishments throughout the globe want to be geared up to comprise outbreaks once they occur collectively. Thus, the increasing prevalence of chronic disorders boosts the mid-size pharmaceutical market.
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Mid-Size Pharmaceutical Market: Strategic Insights
Market Size Value in US$ 690,105.2 Million in 2022 Market Size Value by US$ 1,000,584.3 Million by 2028 Growth rate CAGR of 6.4% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Mid-Size Pharmaceutical Market: Strategic Insights
| Market Size Value in | US$ 690,105.2 Million in 2022 |
| Market Size Value by | US$ 1,000,584.3 Million by 2028 |
| Growth rate | CAGR of 6.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Mid-Size Pharmaceutical Market Drivers and Opportunities
Increasing Product Approval and Launches
The presence of various market players characterizes the mid-size pharmaceutical market. To increase their market share, market players take up various strategies such as product launches, regional expansion, and technological advancements. Mid-size pharmaceuticals are more involved in continuous innovation and technological advances, leading to increased acceptance among industry players. Leading players invest in R&D to develop advanced technologies and gain more revenue. For instance, In May 2022, Eisai Co., Ltd. Launched MOVICOL HD, an advanced formulation of existing MOVICOL LD for the treatment of chronic constipation. EA Pharma and Eisai Co., Ltd. cooperatively provided information for the proper use of MOVICOL HD under a co-promotion agreement. In addition, In May 2022, Sun Pharmaceutical Industries Ltd., including its subsidiaries and associate companies, announced that it received final approval from the US FDA for its Abbreviated New Drug Application (ANDA) for generic Mesalamine Extended-Release Capsules, 500 mg. The generic product approval was based on Pentasa Extended-Release Capsules, 500mg as a reference product.
Rising Number of Healthcare Start-ups
Over the last decade, the pharmaceutical industry has witnessed many transformational trends and innovations that will rapidly improve the medicines available to patients around the world. In just ten years, the influence of artificial intelligence and big data on diagnosing and treating disease and a shift toward preventing life-threatening conditions rather than medicating them lead to the evolution of healthcare. With the evolution of recent technologies, new entrants initiate several health start-ups, thereby influencing the mid-size pharmaceutical market. For Instance: Alpha Zyme was founded in 2018 by Christopher Benoit, an expert in enzyme development and production. In October 2020, Alp zyme partnered with Qualio to facilitate the company’s growth.
Mid-Size Pharmaceutical Market Report Segmentation Analysis
Key segments that contributed to the derivation of the mid-size pharmaceutical market analysis are type, drug development type, formulations, and therapy class.
- Based on type, the mid-size pharmaceutical market is segmented into prescription, over the counter. The over the counter segment held a most significant market share in 2023.
- Based on drug development type, the mid-size pharmaceutical market is segmented by in-house, outsource. The outsource segment held a largest market share in 2023.
- Based on the formulations, the mid-size pharmaceutical market is segmented by tablets & capsules, injectables, sprays, and other formulations. The tablets & capsules segment held a largest market share in 2023.
- Based on the therapy class, the mid-size pharmaceutical market is segmented by cardiovascular diseases, pain management, diabetes, cancer, and other conditions. The diabetes segment held a most significant market share in 2023.
Mid-Size Pharmaceutical Market Share Analysis by Geography
The geographic scope of the mid-size pharmaceutical market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The US is the largest market for mid-size pharmaceuticals in North America. In North America, the US holds a significant share of the mid-size pharmaceutical market. The growth of the market in the country is primarily driven by the increasing aging population in the US and the growing prevalence of chronic diseases. The increasing aging population in the US is likely to favor the growth of the mid-size pharmaceutical market. As per the US Census Bureau, in the US, individuals aged 65 and older are estimated to double from 52 million in 2018 to around 95 million by 2060, and people aged 65 and more will increase from 16% to 23% in the year 2018 to 2060.
Most adults (>60%) suffer from two or more chronic conditions. According to the Centers for Disease Control and Prevention (CDC), in 2020, almost 6 in 10 people in the US suffered from at least one chronic disease, and 4 in 10 people had two or more chronic conditions. Furthermore, Chronic disorders such as dementia, heart disease, type 2 diabetes, arthritis, and cancer are all associated with aging. These are significant causes of illness, disability, mortality, and increasing healthcare costs in the US.
Mid-Size Pharmaceutical Market Report Scope
Mid-Size Pharmaceutical Market News and Recent Developments
The Mid-Size Pharmaceutical Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the mid-size pharmaceutical market are listed below:
- Regeneron Pharmaceuticals, Inc. and Checkmate Pharmaceuticals, Inc. announced a definitive agreement for Regeneron to acquire Checkmate for $10.50 per share of Checkmate common stock in an all-cash transaction. Checkmate's entire stock value is estimated to be around $250 million in the proposed acquisition. (Source: Regeneron Pharmaceuticals, Inc, Company Website, April 2022)
Mid-Size Pharmaceutical Market Report Coverage and Deliverables
The “Mid-Size Pharmaceutical Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Mid-size pharmaceutical market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Mid-size pharmaceutical market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Mid-size pharmaceutical market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the mid-size pharmaceutical market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Drug Development Type, Formulation, and Therapy Class
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
North America dominated the mid-size pharmaceutical market in 2023
The growth of the market is defined by key driving factors, such as the rising geriatric population across the globe, along with the increased prevalence of chronic disorders. Moreover, increased urbanization has increased government expenditures on the healthcare sector.
Greater focus on R&D will likely remain a key trend in the market.
DAIICHI SANKYO COMPANY LIMITED; Eisai Co., Ltd.; Regeneron Pharmaceuticals, Inc; Bausch Health Companies Inc.; Sun Pharmaceutical Industries Ltd; Alexion Pharmaceuticals, Inc.; Mallinckrodt; Endo Pharmaceuticals Inc.; Les Laboratories Servier; and UCB S.A.
The market is expected to register a CAGR of 8.9% during 2023–2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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