Global Ethical Pharmaceuticals Market Size (2024 - 2029)

The ethical pharmaceuticals market is experiencing growth driven by factors such as the increasing prevalence of chronic diseases, a rising geriatric population, and heightened research and development activities leading to new product launches. The market size is influenced by the growing demand for ethical medications, particularly due to the global burden of diseases like diabetes and cancer. Additionally, collaborations for novel drug development are contributing to market expansion. However, challenges such as patent expirations and lengthy drug approval processes may impede further growth.

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Market Size of Global Ethical Pharmaceuticals Industry

Ethical Pharmaceuticals Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 10.50 %
Fastest Growing Market North America
Largest Market Asia-Pacific

Major Players

Ethical Pharmaceuticals Market Major Players

*Disclaimer: Major Players sorted in no particular order

Ethical Pharmaceuticals Market Analysis

The Ethical Pharmaceuticals Market is expected to register a CAGR of 10.5% during the forecast period (2022-2027).

Covid-19 has significantly impacted the ethical pharmaceuticals market due to the rising consumption of drugs related to the respiratory system. For instance, in the Journal of American Pharmacist Association, titled 'The global impact of COVID-19 on drug purchases: A cross-sectional time-series analysis' in December 2021, Before COVID-19, the monthly number of standardized pharmaceutical units per 100 people ranged from 3990 to 4760. Compared to 2019, the number of units of pharmaceuticals purchased increased by 15% to 5309.3 per 100 people in March 2020. Furthermore, according to the same source, in the early months of the COVID-19 pandemic, there was evidence of global medicine stockpiling, particularly among developed countries.

The major factors driving the market growth include the rise in the burden of chronic diseases such as diabetes, cancers, and hypertension, the rise in the geriatric population, the rise in product launches for ethical drugs, increase in research and development collaborations to develop novel ethical pharmaceuticals, among others.

The rise in chronic disease is among the major factors driving the market growth. For instance, according to the International Diabetic Federation 2021, diabetes affects around 537 million persons aged 20 to 79. By 2030, the overall number of diabetics is expected to reach 643 million, and by 2045, it will reach 783 million. Furthermore, according to Globocan 2020, there were 19,292,789 new cancer cases seen in 2020 across the globe, and 9,958,133 deaths were reported globally in 2020. Such a huge burden of chronic diseases will lead to increased adoption of ethical medication, driving the market growth significantly.

Furthermore, the rise in collaborations to develop novel drugs has further driven the market growth due to the development and entry of novel drugs into the market. For instance, in March 2020, Curadev Pvt. Ltd. and Bayer entered research cooperation and license agreement for Curadev's Stimulator of Interferon Genes (STING) antagonist program. The collaboration aims to find new therapeutic candidates for the treatment of lung, cardiovascular, and other inflammatory illnesses.

However, the patent expiry of current ethical pharmaceuticals and the lengthy approval process for these drugs are expected to hinder the market growth.

Ethical Pharmaceuticals Industry Segmentation

As per the scope of this report, Ethical Pharmaceuticals, often known as prescription drugs, can only be supplied by a pharmacist if a medical practitioner has issued a prescription for them. These are the categories of licensed pharmaceuticals regulated by various laws to prevent drug misuse and harmful side effects. The Ethical Pharmaceuticals Market is Segmented by Type (Lipid Regulators, ACE Inhibitors, Respiratory Agents, Narcotic Analgesics, Diuretics, Calcium Antagonists, Hormonal Contraceptives, Others), Application (Hospitals and Clinics, Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value (USD million) for the above segments.

By Drug Class
Lipid Regulators
ACE Inhibitors
Respiratory Agents
Narcotic Analgesics
Diuretics
Calcium Antagonists
Hormonal Contraceptives
Others
By Application
Hospitals and Clinics
Others (Pharmaceutical Company, Contract Drug Manufacturing Organization)
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Ethical Pharmaceuticals Market Size Summary

The Ethical Pharmaceuticals Market is poised for significant growth, driven by several key factors. The increasing prevalence of chronic diseases such as diabetes, cancer, and hypertension, coupled with a rising geriatric population, is fueling demand for ethical medications. The market is also benefiting from a surge in product launches and research collaborations aimed at developing novel pharmaceuticals. The COVID-19 pandemic has further accelerated market growth, as it led to a rise in hospital admissions and increased consumption of respiratory-related drugs. However, challenges such as patent expirations and lengthy drug approval processes may impede market expansion.

North America is expected to maintain a dominant position in the ethical pharmaceuticals market, supported by a substantial number of hospitals and high hospital admission rates. The region's market growth is further bolstered by the frequent launch of new ethical drugs and increased prescription drug expenditure. The competitive landscape of the market is moderately concentrated, with major players like Sanofi, Amgen Inc, Merck & Co., Inc, GlaxoSmithKline plc, Novartis AG, and Pfizer Inc leading the charge. These companies are actively involved in product launches and research collaborations, which are crucial for sustaining market momentum.

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Global Ethical Pharmaceuticals Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Burden of Chronic Diseases and Increase in Geriatric Population

      2. 1.2.2 Rise in Research Activities For the Development of Novel Ethical Medicines

    3. 1.3 Market Restraints

      1. 1.3.1 Patent Expiry of Current Ethical Pharmaceuticals

      2. 1.3.2 Lengthy Approval Process

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Drug Class

      1. 2.1.1 Lipid Regulators

      2. 2.1.2 ACE Inhibitors

      3. 2.1.3 Respiratory Agents

      4. 2.1.4 Narcotic Analgesics

      5. 2.1.5 Diuretics

      6. 2.1.6 Calcium Antagonists

      7. 2.1.7 Hormonal Contraceptives

      8. 2.1.8 Others

    2. 2.2 By Application

      1. 2.2.1 Hospitals and Clinics

      2. 2.2.2 Others (Pharmaceutical Company, Contract Drug Manufacturing Organization)

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle-East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle-East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Global Ethical Pharmaceuticals Market Size FAQs

The Global Ethical Pharmaceuticals Market is projected to register a CAGR of 10.5% during the forecast period (2024-2029)

Novartis AG, Abbott, Sanofi, GlaxoSmithKline plc and Merck & Co., Inc are the major companies operating in the Global Ethical Pharmaceuticals Market.

Global Ethical Pharmaceuticals Report Snapshots

Ethical Pharmaceuticals Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)