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The Current State and Prospects of the Global Pharmaceutical Market
Didorchuk I. L., Shuba O. А.

Didorchuk, Iryna L., and Shuba, Olena А. (2025) “The Current State and Prospects of the Global Pharmaceutical Market.” Business Inform 9:51–60.
https://doi.org/10.32983/2222-4459-2025-9-51-60

Section: Foreign Experience

Article is written in Ukrainian
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UDC 339.5

Abstract:
The aim of this article is to examine the current state of the global pharmaceutical market, the influencing factors, and prospects for its development. The pharmaceutical industry is one of the most profitable sectors of the global economy, and the global pharmaceutical market shows consistent revenue growth. There is a trend of increasing profitability in the global pharmaceutical market (from USD 390 billion in 2001 to USD 1.6 trillion in 2023). Although the United States is the largest national pharmaceutical market in terms of sales value and the world’s largest importer of pharmaceutical products, as an exporter it lags behind Germany and Switzerland. The global pharmaceutical market remains one of the fastest-growing markets in the global economy, with key influencing factors including: 1) demographic transformations; 2) scientific and technological progress; 3) increased accessibility of medications. At the same time, the pharmaceutical industry faces a number of systemic challenges that may limit the pace of its further development: 1) a strict regulatory environment; 2) significant R&D costs; 3) increasing competitive pressure. According to current forecasts, by 2030 the global pharmaceutical market is expected to experience steady growth with an average annual rate of 5–7%. The main drivers of this process will be: 1) the expansion of emerging markets; 2) digital transformation in healthcare; 3) growth in R&D investments. The trend analysis results indicate a high probability (94%) of continued growth in the value of global pharmaceutical exports. The global pharmaceutical market demonstrates a stable growth trajectory, driven by a combination of demographic changes, technological innovations, and economic progress. The combination of these factors creates a favorable foundation for the long-term development of the industry. Along with this, an effective response to existing challenges, particularly of a regulatory and financial nature, is critically important for ensuring continued innovation and expanding access to quality medicines on a global scale. Therefore, systematically addressing these issues will contribute to the formation of a competitive and adaptive pharmaceutical market capable of meeting the growing healthcare needs.

Keywords: global pharmaceutical market, gene therapy, biosimilars, generic medicines, e-prescriptions, digital platforms, pharmaceutical companies.

Fig.: 10. Tabl.: 1. Bibl.: 15.

Didorchuk Iryna L. – Senior Lecturer, Department of International Economics and World Economy, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]
Shuba Olena А. – Candidate of Sciences (Geography), Associate Professor, Associate Professor, Department of International Economics and World Economy, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

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