Pharmaceutical

Pharmaceutical

  • The worldwide pharmaceutical manufacturing market was worth USD 405.52 billion in 2020 and is predicted to increase at an 11.34 percent compound annual growth rate (CAGR) from 2021 to 2028.
  • The frequency of chronic illnesses and increased consumer knowledge about treatment, government efforts aimed at decreasing the cost of treating chronic diseases, and development in health insurance in developing nations are some of the growth drivers for the pharmaceutical business.
  • Mergers and acquisitions, as one of the most notable pharmaceutical business developments, have influenced the pharmaceutical sector more dramatically than other industries.
  • The pharmaceutical business is also experimenting with blockchain technology, which provides a transaction record to prevent data tampering and manipulation.