Prescription Drugs Market: Increasing R&D investments by prominent companies to drive the market

Prescription Drugs Market: Introduction

  • Prescription drugs comprise various types of vaccines and therapies for the treatment and management of chronic and acute diseases. These disorders include types of cancer, cardiovascular diseases, diabetes, and also orphan diseases.
  • In a modern clinical scenario, administration of appropriate prescription drugs is critical for better clinical outcomes of almost every patient suffering from serious disorders. Many market players are engaged in clinical trials for the development of new products for a wide range of diseases; however, the prescription drugs scenario itself has undergone profound changes with an increasing influx of generic equivalents.

Request Brochure of Report -

Key Drivers, Restraints, and Opportunities of Prescription Drugs Market

  • In the prescription drugs market, increasing R&D investments by prominent companies for the development of new drugs is a key trend. This is primarily because prevalence of several chronic disorders has been increasing in the global scenario. This has fueled the demand from patients due to their unmet clinical needs and a demand for positive clinical outcomes. Several of these chronic disorders are often refractory in nature and thus, require administration of aggressive prescribed therapies. This has prompted major pharmaceutical companies to consistently engage in clinical trials for the development, and ultimately the approval of new products. An increasing number of key manufacturers are shifting their focus toward the development of drugs to treat rare diseases. This is projected to further propel the market growth of these drugs during the forecast period.
  • Increase in the number of launches of generic equivalents of several key drugs in strong markets such as the U.S. is a crucial factor driving the global prescription drugs market. Rise in adoption of these generic equivalents is especially due to the fact that these generics are often as efficient as their original counterparts and can often be adopted by patients at a fraction of the costs. Patients without the access to expensive prescription products due to financial hurdles can often adopt these drugs and experience better clinical outcomes.
  • In October 2019, the U.S. FDA announced that it had granted approval to 1,171 generic drugs out of which 935 were full approvals and 236 were tentative approvals. The U.S. FDA particularly approved these generic equivalents to improve drug competition, and to also encourage the increasing adoption of these low-cost drug equivalents.

Request for Analysis of COVID-19 Impact on Prescription Drugs Market -

North America to dominate Prescription Drugs Market

  • Some of the prominent reasons for the dominance of North America in the global market include an increase in the demand for efficient and advanced products in the region, especially due to the high prevalence of several chronic diseases. These factors along with high healthcare expenditure, strong and robust R&D for drugs in the region, and presence of prominent companies in the region engaged in the production of generic equivalents of key drugs, are responsible for dominant share held by North America in the global market.
  • The market in Europe accounted for the second-largest share of the global market due to increased demand for advanced prescription product and rise in product launches of efficient prescription products including orphan drugs in the region
  • The market in Asia Pacific is projected to expand at a notable CAGR during the forecast period. New launches of key products in the region and the strong demand for prescription drugs are anticipated to drive the market during the forecasted period.

Pre Book Prescription Drugs Market Report at

Key Companies of Prescription Drugs Market

The overall competition landscape of prescription drugs market depicts a competition structure where there is a presence of a large number of prominent market players. But, two major companies: Novartis and Pfizer, with their strong and diverse product portfolio, and presence in key therapeutic areas such as oncology and vaccines, are prominent reasons responsible for the dominance of these companies.

  • Novartis AG
  • Pfizer, Inc.
  • F. Hoffmann-La Roche Ltd
  • Sanofi
  • Johnson & Johnson Services, Inc
  • Merck & Co., Inc.
  • AbbVie, Inc.
  • GlaxoSmithKline plc.
  • AstraZeneca

Ask For Discount:

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.


Mr. Rohit Bhisey
Transparency Market Research

State Tower,

90 State Street,

Suite 700,

Albany NY - 12207

United States

USA - Canada Toll Free: 866-552-3453



Back to news