Westford, USA, Oct. 19, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Pharmerging market, increasing investments in healthcare infrastructure, rising adoption of digital health technologies, growing demand for personalized medicine, expanding use of telemedicine and remote patient monitoring, emphasis on preventive healthcare and wellness programs, the emergence of biosimilars and biologics in the market, the rising importance of healthcare data analytics, increasing focus on regulatory harmonization and quality standards, are the trends that aid in the market's growth.
Browse in-depth TOC on "Pharmerging Market"
- Pages - 157
- Tables - 92
- Figures - 74
Pharmerging is a portmanteau of "pharmaceutical" and "emerging". It refers to the pharmaceutical industry in emerging markets like India, China, and Brazil. These markets are characterized by rapid economic growth and rising incomes, which is driving demand for healthcare products and services.
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Prominent Players in the Pharmerging Market
- Accord Healthcare
- Ajanta Pharma
- Aurobindo Pharma
- Cipla
- Dr. Reddy's Laboratories
- Glenmark Pharmaceuticals
- Hetero Healthcare
- Jubilant Life Sciences
- Mankind Pharma
- Natco Pharma
- Novartis India
- Sun Pharmaceutical Industries
- Torrent Pharmaceuticals
- USV Pharmaceutical
- Zydus Cadila
- Emcure Pharmaceuticals
- Intas Pharmaceuticals
- Lupin Limited
- Mylan
- Piramal Enterprises
- Ranbaxy Laboratories
- Sequent Scientific
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Generic Drugs Demand to Grow Substantially in the Forecast Period
Generic drugs dominated the global market owing to their cost-effectiveness. It also offers cost-effective alternatives to branded pharmaceuticals, and their affordability makes them accessible to a large population. Governments and healthcare systems in pharmerging economies often encourage the use of generic drugs to improve affordability and increase access to essential medications.
Cardiovascular disease is the Leading Application Segment
In terms of application, cardiovascular disease is the leading segment due to the rising prevalence of it. In addition, As the prevalence of cardiovascular diseases rises in pharmerging economies due to lifestyle changes and ageing populations, there is an increased demand for medications targeting these conditions.
Asia-Pacific is the leading Market Due to the huge Prevalence of Chronic Diseases
Region-wise, Asia-Pacific is one of the largest growing markets with a huge prevalence of chronic diseases. The increasing healthcare expenditure, rising prevalence of chronic diseases, improving healthcare infrastructure, and a robust pharmaceutical manufacturing sector. Countries like China, India, and Southeast Asian nations have witnessed significant growth in their domestic pharmaceutical markets, attracting both local and multinational pharmaceutical companies.
A recent report thoroughly analyzes the major players operating within the Pharmerging market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Pharmerging.
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Key Developments in Pharmerging Market
- In January 2023, Kroger partnered with Instacart to offer same-day delivery to more customers.
- In February 2023, Walmart Grocery partnered with DoorDash to offer delivery from more than 1,000 stores.
Key Questions Answered in Pharmerging Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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