Global pharmaceuticals output growth slowed to just 0.5% in 2023 – after a whopping 17.3% increase in 2021 and 6.8% in 2022. This spike was driven by the massive production of Covid vaccinations. In 2024, we expect global output and sales to increase by 4.6% and 5.1% respectively, mainly driven by the Asia Pacific region. Vaccine production will continue to support growth, although at a lower level than in previous years.
Producers of speciality products, medicines for chronic conditions and generic drugs will find opportunities for growth among ageing populations. Producers of medication for weight-loss are facing growth predictions of more than USD 75 billion by 2030. Improving access to healthcare within emerging markets will also support pharmaceuticals’ output and sales.
Learn more here: https://atradius.ca/reports/industry-trends-pharmaceuticals-industry-trends-january-2024.html
