This post is an overview of the global pharmaceutical market, in other words a bird eye view market with top level data.
In 2019 The global pharmaceutical market reached $1,232 bn and it is forecast to post a 5.4% compound annual growth rate (CAGR) at constant exchange rates(CER) through to 2023 (BMI, 2019).
The following chart shows the global pharmaceutical market size and growth rate in USD billions:
By region, the global pharmaceutical market is segmented into Americas, Europe, Asia, and Middle East and Africa. Americas holds the largest share (38% of the global market)
According to Wikipedia, the top 10 pharmaceutical, biotechnology and medical companies ranked by their revenue generated in 2019 are Johnson&Johnson, Roche, Sinopharm, Pfizer, Bayer, Novartis, Merck & Co., GlaxoSmithKline, Sanofi and Abbvie.
The following chart shows the revenue for each company in USD billions:
Growth is driven by the drug affordability and disses prevalence. On the other hand, government policies and regulations slow down this growth.