(MENAFN- GlobeNewsWire - Nasdaq) U.S. Market Expected to Maintain Dominance with USD 720.90 Billion by 2032, as Oncology, Immunosuppressants, and Specialty Therapies Drive Innovation.Pune, Sept. 11, 2025 (GLOBE NEWSWIRE) -- Prescription Drugs Market Size & Growth Analysis:
According to SNS Insider, the global Prescription Drugs Market ( 処方薬市場 )was valued at 1,162.60 USD billion in 2023 and will reach USD 2,173.61 billion in 2032, growing at a compound annual growth rate (CAGR) of 7.20% between 2024 and 2032. The U.S. held a dominating market share of 72%, equivalent to USD 385.05 billion in 2023, attributable to its established healthcare infrastructure, large R&D expenditure, and rapid adoption of novel therapeutics.
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That growth rate speaks to a healthcare landscape increasingly prioritizing early detection, precision intervention, and value-based care. The increasing prevalence of global chronic diseases, such as cancer, diabetes, cardiovascular diseases, and autoimmune diseases, has led to a greater need for prescription drugs that provide health benefits. Additionally, turning precision medicine and biologics into reality further enhancing a new era of patient-centric treatment approaches.
Market Overview
Overseas sales represent a significant portion of the prescription drugs market, which continues to be one of the major contributors to worldwide healthcare expenditure today-over 50% of pharmaceutical spending globally. Prescription drugs accounted for 58% of the total pharmaceutical market in 2023, bolstered by product hot-streaks in oncology, immunology, and rare disease. Increasing reimbursement programs, wide availability of generics and large availability for the approval of regulatory process has also fueled the market growth.
Digital health platforms, AI-powered drug discovery and development, and personalized medicine approaches are gaining traction among pharma companies, paving the way for better adherence and clinical outcomes. Biosimilars and value-based pricing models are increasing in the market owing to governments and private insurers implementing a push towards more value-conscious cost measures.
Major Companies in the Prescription Drugs Market Include:
Novartis AG F. Hoffmann-La Roche Ltd Pfizer Inc. Johnson & Johnson Services Inc. Sanofi AbbVie Inc. AstraZeneca Merck & Co. Inc. GlaxoSmithKline pic. CELGENE CORPORATION Bristol-Myers Squibb Eli Lilly and Co. Amgen Inc. Bayer AG Gilead Sciences Inc. Abbott Laboratories Mylan N.V. Teva Pharmaceutical Industries Ltd. Baxter International Inc. Sandoz
Segmentation Analysis
Prescription drugs led the market in 2023, highlighting their importance in management and preventive aspects of disease by Product Type. Generics is still on the upswing and viewed as a lower-cost alternative, especially in developing regions, but orphan drug development is gaining popularity with strong regulatory incentives to develop rare disease treatment.
Oncology, as a therapy area, includes targeted cancer therapies, immuno-oncology drugs , and combination treatments all of which together accounted for 28% of the market in 2023. High growth of major indication-specific drugs such as anti-diabetics and immunosuppressants are contributing to the overall growth of this segment as metabolic disorders and auto-immune diseases are increasing globally.
Hospital pharmacies maintained the highest share (44% of global market size) and include in their patient base many complex therapies, biologics and specialty medications. Retail pharmacies and drug stores continue to serve as an important access point for maintenance medications, while online pharmacies represent a high-growth channel - especially in North America and Asia-Pacific regions, driven by digital convenience and telemedicine uptake.
Regional Analysis
In 2023, North America accounted for 46% of the market globally and is projected to maintain its leading position until 2032, due to a strong pipeline of novel therapeutics, high per capita health expenditure and positive reimbursement environment. The US remains the world-wide leader in biopharmaceutical innovation, with a disproportionate share of oncology, cardiovascular, and neurological drug development.
Europe comes in a close second, having enjoyed years of strong regulatory harmonization and widespread adoption of biosimilars in select countries such as Germany, the UK, and France. On the other hand, Asia-Pacific is expected to grow fastest in CAGR owing to increasing health care expenditure, growing middle-class population, and government initiative to make drugs more affordable. China, India and Japan are allocating substantial resources to local production of drugs and local clinical studies and thereby decreasing dependence on imports and reducing patient costs.
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Recent News:
In 2023, Novartis received FDA approval for Kymriah, a CAR T-cell therapy designed to treat relapsed or refractory large B-cell lymphoma. This approval marks a significant advancement in personalized cancer treatment. Kymriah offers a promising option for patients who have not responded to other therapies. In 2023, Roche announced the FDA approval of Evrysdi for treating spinal muscular atrophy (SMA) in infants and toddlers. This approval strengthens Roche's pediatric treatment portfolio. Evrysdi offers a new therapeutic option for young patients affected by SMA.
Exclusive Sections of the Report (The USPs):
ENVIRONMENTAL COMPLIANCE METRICS – Helps you understand regulatory pressure and sustainability benchmarks by analyzing drug pricing trends, which reflect government policies, market access constraints, and affordability challenges across key regions. CAPACITY UTILIZATION RATES – Helps you identify industry supply-demand balance through clinical trials and drug development activities, indicating pipeline robustness and potential market readiness of new therapies. SUPPLY CHAIN DISRUPTION INDEX – Helps you identify regions or suppliers at risk by studying pharmaceutical marketing and distribution trends, revealing vulnerabilities due to logistical challenges or regulatory delays. TECHNOLOGICAL ADOPTION RATE – Helps you uncover innovation opportunities by tracking R&D investment levels in pharmaceuticals, highlighting focus areas, such as biologics, precision medicine, and advanced drug delivery systems. COMPETITIVE LANDSCAPE – Helps you gauge key players' strength through an analysis of regulatory approvals and market authorizations, reflecting companies' ability to bring new drugs to market and sustain competitive advantage.
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Prescription Drugs Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | USD1162.60 billion |
| Market Size by 2032 | USD 2173.61 billion |
| CAGR | CAGR of 7.20 % From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | . By Product Type (Prescription Drugs, Orphan, Generics)
. By Therapy (Immunosuppressants, Oncology, Sensory Organs, Vaccines, Anticoagulants, Anti-diabetics, Others)
. By Distribution Channel (Retail Pharmacies & Drug Stores, Hospital Pharmacies, Online Pharmacies) |
| Regional Analysis | North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, Poland, Turkey, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
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