World Preview 2026: Big Drugs. Bigger Questions.

Global prescription drug sales are forecast to exceed $2 trillion by 2032, driven by a new era of obesity and autoimmune blockbusters, sustained M&A activity, and a dealmaking landscape that is shifting quickly. Growth remains strong and the R&D pipeline is healthy. But pricing pressure, regulatory uncertainty, and China’s emergence as the dominant source of licensed pipeline assets are raising urgent questions about where value will be created next.

Evaluate’s annual World Preview puts the data behind the decisions.

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Behind the growth figures lie questions that portfolio and strategy teams need to address. How fast will China move from asset supplier to global competitor? Are smaller, lower-risk pipelines enough to sustain long-term value? And as pricing dynamics shift, what will tomorrow’s most important payers actually reward?

The report covers:

  • Worldwide prescription drug sales forecasts to 2032, including the top ten best-selling drugs and companies
  • The therapy areas driving growth, and where competitive intensity is rising fastest
  • How the second wave of the patent cliff is driving renewed M&A activity
  • How China’s role in global pharma is evolving, and what that means for Western portfolio and dealmaking strategy
  • What US pricing, policy, and regulatory turbulence means for pipeline construction and long-term commercial planning

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Western pharma committed close to $2 billion in licensing deals and acquisitions for China-originated assets in Q1 2026 alone.

Frequently Asked Questions

World Preview is Evaluate’s annual forecast report covering the global biopharma market. It provides sales forecasts to 2032 for the top-selling drugs, therapy areas, and companies, alongside analysis of dealmaking trends, pipeline developments, and the strategic forces shaping the industry’s direction.

Evaluate forecasts worldwide prescription drug sales will exceed $2 trillion by 2032, representing a compound annual growth rate of over 7% from 2025. Growth is led by obesity and autoimmune therapies, with five individual drugs each projected to sell over $20 billion that year.

Immunomodulators and cardiovascular drugs are among the fastest-growing therapy areas by percentage growth through 2032. Obesity and metabolic disease therapies continue to lead by absolute sales value, while autoimmune drugs are forecast to outgrow the metabolic/endocrine category on a compound annual basis.

China has become the dominant source of licensed pipeline assets for Western pharma. Chinese assets are on course to account for more than two-thirds of total licensing deal value in 2026, compared with less than 5% five years ago. The World Preview 2026 examines how this shift is affecting portfolio strategy, deal structures, and competitive dynamics for US and European companies.

More than $400 billion in cumulative prescription drug sales are at risk from patent expiry through 2030. This exposure is a primary driver of sustained M&A activity across the sector. The report examines which companies face the greatest near-term risk, how dealmaking strategies are evolving in response, and what the data signals about where acquisition appetite is likely to concentrate next.

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