The global pharmaceutical market is expected to grow at 3-6% CAGR to reach USD 1.6 Tn during 2021-2025, driven by growth in pharmaceutical demand in emerging markets such as Colombia, Chile, Philippines, Saudi Arabia, Taiwan, and Egypt, partially offset by lower growth in developed markets such as South Korea, Japan, France, US, Spain, Germany, Italy, UK, Australia, and Canada, due to loss of exclusivity for original brands.
Emerging markets are expected to grow at 7-10% CAGR during 2021-2025, while developed markets will grow at 2-5% CAGR for the same period. Oncology, immunology, anti-diabetics, neurology, cardiology, anti-coagulants, and respiratory and pain are expected to be the top therapy areas. Also, it is expected that there will be higher levels of new drug launches over the next 5 years than in the decade before, in specialty, niche, and orphan drugs therapy areas. Oncology and immunology therapies are expected to grow the most at 9-12% and 6-9% CAGR, respectively, driven by increase in the number of new treatments and medicines emerging; partially offset by availability of biosimilars. Generic market is also expected to continue to grow due to patent expiries and increasing preference towards low-cost medicines.

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