Mid-Size Pharmaceutical Market Dynamics and Trends by 2031

The mid-size pharmaceutical market size is projected to reach US$ 1,224.039 billion by 2031 from US$ 732.02 billion in 2023. The market is expected to register a CAGR of 8.9% during 2023–2031. Greater focus on R&D will likely remain a key trend in the market.

Mid-Size Pharmaceutical Market Analysis

The growth of the market is defined by key driving factors such as the rising geriatric population across the globe along with the increased prevalence of chronic disorders. Moreover, increased urbanization has increased government expenditures on the healthcare sector. Furthermore, the rising number of healthcare start-ups will likely offer opportunities to the mid-size pharmaceutical market in the coming years.

Mid-Size Pharmaceutical Market Overview

The aging population and changes in social behavior contribute to the steady increase in these common and costly long-term health problems. With the accelerating urbanization, people are adopting a more sedentary lifestyle. This boosts obesity rates 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. Emerging markets will be hit hardest, as population growth is expected to be the strongest in developing countries. Increasing demand for healthcare systems due to chronic illnesses has become a significant concern.

Diabetes is one of the biggest global health problems of the 21st century. Every year, more and more people develop this condition, causing life-changing complications. 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 is about 35% over the predicted period. The Pandemics have tested the rate at which infections unfold throughout the globe. Pandemics exert periodic and enormous disruptive strains on fitness systems. Healthcare establishments throughout the globe want to be geared up to comprise outbreaks once they occur collectively. Thus, the increasing prevalence of chronic disorders boosts the mid-size pharmaceutical market.

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Mid-Size Pharmaceutical Market: Strategic Insights

Market Size Value in	US$ 690,105.2 Million in 2022
Market Size Value by	US$ 1,000,584.3 Million by 2028
Growth rate	CAGR of 6.4% from 2022 to 2028
Forecast Period	2022-2028
Base Year	2022

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Mid-Size Pharmaceutical Market Drivers and Opportunities

Increasing Product Approval and Launches

The presence of various market players characterizes the mid-size pharmaceutical market. To increase their market share, market players take up various strategies such as product launches, regional expansion, and technological advancements. Mid-size pharmaceuticals are more involved in continuous innovation and technological advances, leading to increased acceptance among industry players. Leading players invest in R&D to develop advanced technologies and gain more revenue. For instance, In May 2022, Eisai Co., Ltd. Launched MOVICOL HD, an advanced formulation of existing MOVICOL LD for the treatment of chronic constipation. EA Pharma and Eisai Co., Ltd. cooperatively provided information for the proper use of MOVICOL HD under a co-promotion agreement. In addition, In May 2022, Sun Pharmaceutical Industries Ltd., including its subsidiaries and associate companies, announced that it received final approval from the US FDA for its Abbreviated New Drug Application (ANDA) for generic Mesalamine Extended-Release Capsules, 500 mg. The generic product approval was based on Pentasa Extended-Release Capsules, 500mg as a reference product.

Rising Number of Healthcare Start-ups

Over the last decade, the pharmaceutical industry has witnessed many transformational trends and innovations that will rapidly improve the medicines available to patients around the world. In just ten years, the influence of artificial intelligence and big data on diagnosing and treating disease and a shift toward preventing life-threatening conditions rather than medicating them lead to the evolution of healthcare. With the evolution of recent technologies, new entrants initiate several health start-ups, thereby influencing the mid-size pharmaceutical market. For Instance: Alpha Zyme was founded in 2018 by Christopher Benoit, an expert in enzyme development and production. In October 2020, Alp zyme partnered with Qualio to facilitate the company’s growth.

Mid-Size Pharmaceutical Market Report Segmentation Analysis

Key segments that contributed to the derivation of the mid-size pharmaceutical market analysis are type, drug development type, formulations, and therapy class.

• Based on type, the mid-size pharmaceutical market is segmented into prescription, over the counter. The over the counter segment held a most significant market share in 2023.
• Based on drug development type, the mid-size pharmaceutical market is segmented by in-house, outsource. The outsource segment held a largest market share in 2023.
• Based on the formulations, the mid-size pharmaceutical market is segmented by tablets & capsules, injectables, sprays, and other formulations. The tablets & capsules segment held a largest market share in 2023.
• Based on the therapy class, the mid-size pharmaceutical market is segmented by cardiovascular diseases, pain management, diabetes, cancer, and other conditions. The diabetes segment held a most significant market share in 2023.

Mid-Size Pharmaceutical Market Share Analysis by Geography

The geographic scope of the mid-size pharmaceutical market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

The US is the largest market for mid-size pharmaceuticals in North America. In North America, the US holds a significant share of the mid-size pharmaceutical market. The growth of the market in the country is primarily driven by the increasing aging population in the US and the growing prevalence of chronic diseases. The increasing aging population in the US is likely to favor the growth of the mid-size pharmaceutical market. As per the US Census Bureau, in the US, individuals aged 65 and older are estimated to double from 52 million in 2018 to around 95 million by 2060, and people aged 65 and more will increase from 16% to 23% in the year 2018 to 2060.

Most adults (>60%) suffer from two or more chronic conditions. According to the Centers for Disease Control and Prevention (CDC), in 2020, almost 6 in 10 people in the US suffered from at least one chronic disease, and 4 in 10 people had two or more chronic conditions. Furthermore, Chronic disorders such as dementia, heart disease, type 2 diabetes, arthritis, and cancer are all associated with aging. These are significant causes of illness, disability, mortality, and increasing healthcare costs in the US.

Mid-Size Pharmaceutical Market Report Scope

Mid-Size Pharmaceutical Market News and Recent Developments

The Mid-Size Pharmaceutical Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the mid-size pharmaceutical market are listed below:

• Regeneron Pharmaceuticals, Inc. and Checkmate Pharmaceuticals, Inc. announced a definitive agreement for Regeneron to acquire Checkmate for $10.50 per share of Checkmate common stock in an all-cash transaction. Checkmate's entire stock value is estimated to be around $250 million in the proposed acquisition. (Source: Regeneron Pharmaceuticals, Inc, Company Website, April 2022)

Mid-Size Pharmaceutical Market Report Coverage and Deliverables

The “Mid-Size Pharmaceutical Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Mid-size pharmaceutical market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Mid-size pharmaceutical market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Mid-size pharmaceutical market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the mid-size pharmaceutical market
• Detailed company profiles