Mid-Size Pharmaceutical Market Global Research Report 2028

The mid-size pharmaceutical market is expected to grow from US$ 690,105.2 million in 2022 to US$ 1,000,584.3 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2022 to 2028.

Revenue, therapy area, R&D expenditure, and reach are among the critical segments of the global pharmaceutical industry. Mid-size pharmaceutical is among the three categories of the pharmaceutical industry. It emphasizes the development of generic drugs and the development of rare disease therapies. The mid-sized pharmaceutical companies have their revenue in the range of US$ 1 billion to US$ 10 billion. The increasing prevalence of chronic diseases, rapidly rising elderly population, and the surging number of products launches and approvals is expected to aid the mid-size pharmaceutical market growth.

The report provides insights and in-depth analysis of the mid-size pharmaceutical market, emphasizing various parameters such as market trends, technological advancements, and market dynamics. It also provides the competitive landscape analysis of leading market players and the impact of the COVID-19 pandemic on the market across all major regions. The COVID-19 pandemic affected three main aspects of the global economy—manufacturing, supply chain, and financial markets. However, the pandemic impact on the mid-size pharmaceutical market was initially negative, which became positive later. In the beginning of the COVID-19 pandemic, the mid-size pharmaceutical market in the regions faced numerous short-term and long-term challenges, including direct impacts on productions and demands, financial impacts on manufacturing companies, and disruptions in supply chain and markets. In mid-size pharmaceutical markets, the effects of the pandemic were nearly predictable. The result was extremely high demand and funding for products essential to the care and treatment of patients, such as vaccines for infectious diseases, respiratory diseases, diabetes, and influenza. However, budgets for nonessential drugs were limited or unavailable.

Strategic Insights

Since, the regions have quickly changed trial management, most can deliver the clinical trial services as per clients’ needs. Biotech companies are currently initiating clinical trials in the regions. Since the initial outbreak, the situation in Asia Pacific has improved. As of May 2020, 97% of the sites reopened for patient visits, and 83% of the sites are open for on-site CRA visits. Moreover, hospitals in China are 90% open for inpatient/outpatient visits compared to previous years. Also, clinical sites are returning to normal operations.

Based on region, the mid-size pharmaceutical market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Lucrative Regions for Mid-Size Pharmaceutical Market

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Market Insights
Increasing Prevalence of Chronic Disorders Drives Mid-Size Pharmaceutical Market

The aging population and changing social behavior contribute to the steady increase in common and costly long-term health problems. With the accelerating urbanization, people are adopting a sedentary lifestyle, which boosts the rates of obesity and cases of illnesses, such as diabetes. According to the World Health Organization, the prevalence of chronic diseases is projected to increase by 57% by 2026. Increasing demand for health care systems due to the rising incidence of chronic illnesses has become a major concern. For instance, according to the International Diabetes Federation (IDF), the number of people with diabetes in North America was about 46 million in 2019 and is projected to increase to 62 million by 2045. The increase in disease prevalence would be about 35% during the predicted period. Pandemics exert periodic and enormous disruptive strains on fitness systems. Healthcare establishments across the world want to be geared up to collectively comprise outbreaks once they occur. Thus, the increasing prevalence of chronic disorders boosts the mid-size pharmaceutical market growth.

Type-Based Insights

Based on type, the mid-size pharmaceutical market is bifurcated into prescription and over-the-counter. In 2022, the over-the-counter segment accounted for a larger market share. It is expected to be one of the fastest-growing segments. The market growth for the segment is attributed to the increasing budget allocation by pharmaceutical companies for drugs marketing and higher disposable income.

Mid-Size Pharmaceutical Market, by Type – 2022 and 2028

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Drug Development Type-Based Insights

Based on drug development type, the mid-size pharmaceutical market is bifurcated into in-house and outsource. The outsource segment held a larger market share in 2022. Increasing demand for contract development and manufacturing organizations (CDMOs) and the rising number of new entrants in the market would propel the market growth for the outsource segment during the forecast period.

Formulation-Based Insights

Based on formulation, the mid-size pharmaceutical market is segmented into tablets & capsules, injectables, sprays, and other formulations. The tablets & capsules segment held the largest market share in 2022. The wide usage of tablets and capsules in long-term treatments, easy use of sprays, and innovative injectable formulations, such as prefilled and fixed doses syringes, are anticipated to propel the growth of the market for the tablets & capsules segment during the forecast period.

Therapy Class-Based Insights

Based on therapy class, the mid-size pharmaceutical market is segmented into cardiovascular diseases, pain management, diabetes, cancer, and other conditions. The diabetes segment held the largest market share in 2022. Owing to the rising prevalence of chronic diseases and the growing incidence of cancer, the market for the cancer segment is anticipated to grow rapidly during the forecast period.

The mid-size pharmaceutical market players are adopting organic and inorganic strategies, including product launch and expansion, to expand their footprint and product portfolio globally. DAIICHI SANKYO COMPANY, LIMITED; Eisai Co., Ltd.; Regeneron Pharmaceuticals, Inc; Bausch Health Companies Inc.; Sun Pharmaceutical Industries Ltd; Alexion Pharmaceuticals, Inc.; Mallinckrodt; Endo Pharmaceuticals Inc.; Les Laboratories Servier; and UCB S.A. are among the leading companies in the mid-size pharmaceutical market.