Connected data gives you a clearer picture
At Evaluate we collect, calibrate and connect the pharmaceutical world's data.
LONDON, BOSTON, TOKYO (June 4, 2019) – The $1.18tr forecast for the 2024 global prescription drug market reflects the role new technologies will play in addressing unmet medical needs, as strong expectations for immuno-oncology products and emerging cell and gene therapies drive growth. In 2018, new molecule approvals from the FDA reached their highest level in over a decade, and the projected CAGR of 6.9% from 2019-2024 significantly outpaces the 2.3% CAGR seen from 2010-2018.
However, as more new technologies reach the market, drug pricing pressure may continue to intensify and dampen the overall sales outlook. R&D spending is also forecast to grow more slowly from 2019-2024 than in prior years, and decrease as a proportion of overall sales – a sign of either increasing R&D efficiency, or of companies focusing on smaller indications with lower clinical development costs.
“Scientific advancements and health technologies are converging to deliver new options for patients, while challenging traditional drug development and commercialisation models,” said report author Ryan Waters. “The question is, which companies are best poised to take advantage of the evolving pharmaceutical market?”
Download your complimentary copy of the “EvaluatePharma® World Preview 2019, Outlook to 2024” at https://www.evaluate.com/thought-leadership/pharma/evaluatepharma-world-preview-2019-outlook-2024, or visit us at Booth #2243 at the BIO International Convention, June 3-6, in Philadelphia, PA.
Evaluate provides trusted commercial intelligence for the pharmaceutical industry and their advisors.
Our Evaluate platform offers unique and dynamic insights into asset risk and value alongside a seamless, comprehensive view of the pharmaceutical market landscape.
Evaluate Vantage – our award-winning, independent editorial team – provides thought-provoking news and insights into current and future industry developments.
Evaluate has been a partner to industry-leading organisations for over 20 years. For more information on how we give our clients the time and understanding to drive better decisions, visit www.evaluate.com.