Prescription Drugs Market Forecast, Trend Analysis and Competition Tracking - Global Market insights 2015 to 2031

Prescription Drugs Market Overview

Prescription drugs are also called prescription medicine. It is a pharmaceutical drug that requires a legal prescription from a doctor or dentist to dispense.  The Prescription drugs are: prescribed by a doctor, bought at a pharmacy, prescribed for and intended to be used by one person, and regulated by FDA through the new drug application (NDA) process. Prescription medicines help treat many illnesses. Stimulants enable manage attention-deficit/hyperactivity disorder (ADHD) and narcolepsy. Central nervous system (CNS) depressants treat anxiety, panic, and sleep disorders. There are various types of prescription drugs commercially available on the market, each belonging to a specific drug class. Prescription drugs are helpful for patients suffering from various physical and mental health issues; however, many people abuse them for their desirable effects. The abuse and misuse of medical prescription drugs is a significant problem in the U.S. According to WHO, approximately 54 million Americans have misused prescription medications at least once in their lifetime.

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Top 10 Pharmaceutical Companies Prescription Drug Market Share (%) in 2019 (A) & 2026(F)

Global Prescription Drugs Market Revenue Outlook:

The global prescription drugs market was valued at US$ 1050.26 Mn in 2021 and is projected to register а САGR of 9.0% by 2031.

Nonetheless, various industry players in the global prescription drugs markets are now increasing their focus towards the establishment of successful collaborations, acquisitions, and joint venture activities as a means to enhance their respective customer bases. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

The Top 30 Prescription Drug Information of 2021

Increasing Incidence of Chronic Diseases and Conditions to Fuel Demand 

Chronic diseases and conditions are increasing globally. According to the WHO, chronic disease prevalence is expected to rise by 57% by 2020. The elderly population and changes in societal behavior are paying for a steady increase in these communal and costly health complications. The middle-class population is growing, and with urbanization accelerating, people are adopting a more sedentary lifestyle. This is pushing obesity rates and cases of diseases such as diabetes upward. The 13 major chronic diseases that are a significant burden in terms of morbidity, mortality and healthcare are cardiovascular disease, stroke, lung cancer, colorectal cancer, depression, type 2 diabetes, arthritis, osteoporosis, asthma, obesity, chronic obstructive pulmonary disease (COPD), chronic kidney disease, and oral disease.

Impact of Pandemic on Healthcare

The pandemics of the past decade have demonstrated the speed at which infections spread across the globe—Covid-19, Ebola, SARS, MERS, and H1N1, the demand for coordinated and agile healthcare responses. Pandemics will, in all likelihood, exert periodic and significant disruptive pressure on health systems. Healthcare organizations across the globe need to be ready to work together to contain outbreaks quickly when they occur.

The Most Prescribed Drugs of 2020

High Cost of Some Prescription Medicines Hamper Market Growth

High drug costs have increased the financial burden on patients who need access to lifesaving medications and the U.S. health care system. Despite the launch of new and novel medical managements, prescriptions that have been around for years are getting more expensive. The most major reason for the high cost of prescription drugs is the existence of a monopoly.

Some Expensive Drugs in the U.S

Country-wise Analysis 

Why are Prescription Drugs sales higher in the U.S.?

The U.S. market for Prescription Drugs is expected to register a higher share as compared to other regions. The United States alone spends ~ US$ 350 billion. These high spending rates are expected to increase at a rate of 3–6% annually worldwide. The magnitude of the increase is even more alarming for cancer treatments that account for a large proportion of prescription drug costs.

Some Most Common Drugs by Total Prescriptions in the U.S.

1. Lisinopril: ~104 Million Prescriptions

The ACE inhibitor is the most prescribed drug in the U.S. It’s used for the treatment of High Bp and heart failure. Sold under brand names such as Prinivil and Zestril.

2. Atorvastatin: ~104 Million Prescriptions

It is used to lower low-density lipoprotein (LDL) cholesterol and reduce the risk of heart attack and strokes.

3. Levothyroxine: ~101.9 Million Prescriptions

Selling under brand names such as Levo-T, Synthroid, Euthyrox, and Levoxyl.

4. Metformin: ~78.6 Million Prescriptions

Drug Class Biguanide – Metformin is a widely prescribed drug for type 2 diabetes. It is sold under the brand - Glumetza, Glucophage, Fortamet, and Riomet.

5. Amlodipine: ~ 72.5 Million Prescriptions

They are widely prescribed to treat high blood pressure, chest pain, and coronary artery disease, sold under Brand-name versions including Norvasc, Katerzia, and Amvaz.

6. Metoprolol: ~68 Million Prescriptions

Brand prescribing names like Lopresso and Toprol provide. They are used for the treatment of blood pressure and chest pain.

7. Omeprazole: ~58.8 Million Prescriptions

Helps in relieving gastrointestinal problems such as reflux, ulcers, heartburn, and IBS

8. Losartan: ~52 Million Prescriptions

They are used for the treatment of People with heart conditions & high blood pressure. This prescription is a bit more expensive, though, at an average of $128.90.

Competitive Landscape

The prescription drugs landscape appears highly consolidated, with a major chunk of it being dominated by players.

• Novartis AG
• Pfizer, Inc.
• Hoffmann-La Roche Ltd
• Sanofi
• Johnson & Johnson Services, Inc.
• Merck & Co., Inc.
• AbbVie, Inc.
• GlaxoSmithKline Plc.
• AstraZeneca Plc
• Celgene Corporation
• Other Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered

Prescription Drugs Market, By Product Type

• Generics Drugs
• Branded Drugs
• Orphan Drugs

Prescription Drugs Market, By Indications

• Oncology
• Anti-diabetics
• Vaccines
• Sensory Organs
• Immunosuppressants
• Anticoagulants
• Other Indications

Prescription Drugs Market, By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies & Drug Stores
• Online Pharmacies

• Novartis AG
• Pfizer, Inc.
• Hoffmann-La Roche Ltd
• Sanofi
• Johnson & Johnson Services, Inc.
• Merck & Co., Inc.
• AbbVie, Inc.
• GlaxoSmithKline Plc.
• AstraZeneca Plc
• Celgene Corporation
• Other Players