Global Pharmaceutical Market By Application: Prescription Drugs, Over-the-Counter Products, By End-Use: Hospitals, Pharmacies, By Region: North America, Europe, Asia Pacific, Segment Forecasts: 2024 - 2030
Global Pharmaceutical Market Trends
The global pharmaceutical market was valued at USD 1.48 trillion in 2024 and is projected to grow at a CAGR of 5.4% from 2025 to 2030. The pharmaceutical industry is experiencing robust growth, driven by the increasing demand for prescription drugs and over-the-counter products.
Product Insights
Prescription drugs accounted for the largest share in 2024, contributing 72.2% of total revenue, as the focus on chronic disease management continues to rise. Over-the-counter products are also growing steadily, driven by consumer awareness and health trends.
End-Use Insights
Hospitals represented the largest end-use segment in 2024, holding a 41.9% market share, as they prioritize pharmaceutical procurement for patient care. Pharmacies are also experiencing growth, reflecting increased demand for prescription and over-the-counter medications.
Regional Insights
North America dominated the global pharmaceutical market with a 46.5% share in 2024, fueled by high spending on healthcare and strong pharmaceutical manufacturing capabilities. The Asia Pacific region is expected to witness significant growth, with a CAGR of 7.8%, as access to medications improves.
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