The fastest-growing segment of the global pharma market to 2021 will be in drugs for treating metabolic disorders such as diabetes and disorders of the thyroid and pituitary gland, a report from The Business Research Company shows. This market will grow at 9% a year going forward, following recent growth of 11.6%, but it will remain in fifth place for market size behind the musculoskeletal, cardiovascular, oncology and anti-infective drug markets. Drugs to treat diabetes account for over 97% of the global metabolic pharma market.
The USA has by far the largest market for metabolic disorder drugs, worth $29.9 billion in 2017, and it is there that the segment accounts for the largest share of the market, at 12.8%. These drugs are also a significant part of the much smaller Indian market, at 8.8% of total pharma sales in the country.
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The pharmaceutical drugs industry develops drugs to diagnose, cure, treat or prevent metabolic diseases. Global population aging, the obesity crisis, growing awareness of diseases like diabetes, and, in the emerging economies, increasing affordability of treatment, help explain the rapid growth of the metabolic drugs market.
The global pharma market as a whole was worth $934.8 billion in 2017 and will reach $1170 billion in 2021, growing at 5.8%, an accelerated pace compared to 5.2% for the years before 2017.
North America (the USA, Canada, and Mexico) is the largest regional market for the pharma companies, worth $341 billion in 2017; Asia Pacific is in second place with $200 billion of annual sales. Growth has been and will continue to be spread across all regions of the world, though faster in some than others. North America’s growth will be only 5.1% a year, below the global average, while Asia Pacific’s will be the highest globally at 8.4% per annum. Western Europe is expected to have the lowest annual growth rate of 3.9% from 2017 to 2021. Its share in the global market in 2017 was 19.4%, worth $180.9 billion.
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Pharmaceutical companies produce both generic and branded drugs. Pharmaceutical drugs are subject to a number of laws and regulations that deal with patenting, testing, safety, efficacy and marketing and affect the size and growth rates of the market. Pharmaceutical companies produce pharmaceutical drugs made from active pharmaceutical ingredients (API) and excipients.
The leading pharma companies are Swiss company Novartis, with just under 5% of the global market in 2017, followed by Sanofi, which is French, then Hoffmann-La Roche, Swiss again. The top ten pharmaceutical manufacturers shared a little over 30% of the global market between them.
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