Global Patented Drugs Market Insights, Growth, Share, Size: By Type, By Distribution Channel, By Region & Segmental Forecast, 2023-2031, Comparative Analysis and Trends
- Industry: Healthcare
- Report ID: TNR-110-1006
- Number of Pages: 420
- Table/Charts : Yes
- November, 2023
- Base Year : 2024
- No. of Companies : 13+
- No. of Countries : 29
- Views : 10163
- Covid Impact Covered: Yes
- War Impact Covered: Yes
- Formats : PDF, Excel, PPT
TNR states, Global Patented Drugs Market was Valued USD 813.9 Bn in 2022, Anticipated to Reach USD 1,359 Bn by 2031, Growing With a CAGR of 6.2% (2023-2031)
Patented drugs are a result of extensive research, development, and investment by pharmaceutical companies. The patent system is designed to encourage innovation by providing companies with a limited period of exclusivity during which they can recoup their investments and make a profit. This exclusivity allows them to charge higher prices for the drug to cover the costs of research and development.
Global Patented Drugs Market Revenue & Forecast, (US$ Million), 2015 – 2031
This growing pattern is linked to a limited number of developing, proprietary drugs with quick adoption and high year-over-year price increases, which are more than balancing the steady expansion in generic drug use. These higher prices are borne by both consumers and payers; whereas consumer out-of-pocket expenses for prescription pharmaceuticals have increased by just 3% per year overall, they have increased by 18% per year for patented drugs. Current trends indicate that the significant growth in patented medicine pricing is likely to continue in the coming years.
Trends in the Global Patented Drugs Market
- In the last few years, partnerships between pharmaceutical companies, research institutions, and academia have accelerated drug discovery and development, leading to a higher number of patented drugs. For instance, a sub-licensing agreements has been signed with three Indian companies, Eugia, Hetero, and Dr. Reddy’s Laboratories, along with the Indonesian firm BrightGene by Medicines Patent Pool (MPP). The research and development as well as production of generic versions of Novartis’ cancer treatment drug Nilotinib, making certain cancer drugs more affordable and accessible to patients. The drug is administered for treating chronic myeloid leukaemia (CML), which is a kind of blood cancer.
- Immunotherapy approaches, including checkpoint inhibitors and CAR-T cell therapies, are revolutionizing cancer treatment and contributing to the growth of the patented drugs market. In addition, Merck & Co of the United States plans to patent a new version of its $20 billion cancer treatment Keytruda that can be administered under the skin, enabling it to safeguard its best-selling medication from competition as early as 2028. Thus with these factors the global patented drugs market will exponentially rise during the forecast period.
In the last few years, rise of patented drugs being sold on online pharmacies can be attributed to several factors that reflect changes in consumer behavior, advancements in technology, and the global pharmaceutical market. Pharmaceutical companies are partnering with online pharmacies to directly market and distribute their products to consumers, expanding their reach beyond traditional distribution channels. Thus due to favorable reasons such as competitive pricing, variety of medications as well as direct-to-consumer marketing are all supporting the growth of the global patented drugs market.
The rising prominence of patented drugs in Asia can be attributed to several factors that reflect the region’s increasing investment in research and development, changing demographics, economic growth, and evolving healthcare systems. Asian countries are increasingly focusing on biotechnology and life sciences, which includes areas like genomics, proteomics, and personalized medicine. This shift has led to the development of more complex and targeted therapies that are often eligible for patent protection contributing to the overall growth of the global patented drugs market.
Competitive Landscape
The competitive landscape in the global patented drugs market is dynamic and shaped by various factors, including innovation, research and development, market share, pricing strategies, regulatory environment, and strategic partnerships. Large pharmaceutical companies such as Pfizer, Roche, Novartis, Johnson & Johnson & AstraZeneca, among others, dominate the market. These companies invest heavily in research and development to bring innovative drugs to market and maintain a competitive edge. A few of key market participants operating in the global patented drugs market are:
- AbbVie Inc.
- Astellas Pharma Inc.
- AstraZeneca plc
- Bayer
- Biogen
- Boehringer Ingelheim International GmbH.
- F. Hoffmann-La Roche AG
- Gilead Sciences Inc
- Helsinn
- Johnson & Johnson
- Novartis AG
- Pf Prism Cv
- Pfizer Inc.
- Viiv
- Other Industry Participants
Global Patented Drugs Market Report Coverage
Report Specifications | Details |
Market Revenue in 2022 | US$ 813.9 Billion |
Market Size Forecast by 2031 | US$ 1,359 Billion |
Growth Rate (CAGR) | 6.2% |
Historic Data | 2015 – 2021 |
Base Year for Estimation | 2022 |
Forecast Period | 2023 – 2031 |
Report Inclusions | Market Size & Estimates, Market Dynamics, Competitive Scenario, Trends, Growth Factors, Market Determinants, Key Investment Segmentation, Product/Service/Solutions Benchmarking |
Segments Covered | By Type, By Distribution Channel |
Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Countries Covered | U.S., Canada, Mexico, Rest of North America, France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America |
Key Players | AbbVie Inc., Astellas Pharma Inc., AstraZeneca plc, Bayer, Biogen, Boehringer Ingelheim International GmbH., F. Hoffmann-La Roche AG, Gilead Sciences Inc, Helsinn, Johnson & Johnson, Novartis AG, Pf Prism Cv, Pfizer Inc., Viiv, Other Industry Participants |
Customization Scope | Customization allows for the inclusion/modification of content pertaining to geographical regions, countries, and specific market segments. |
Pricing & Procurement Options | Explore purchase options tailored to your specific research requirements |
Contact Details | Consult With Our Expert
Japan (Toll-Free): +81 663-386-8111 South Korea (Toll-Free): +82-808-703-126 Saudi Arabia (Toll-Free): +966 800-850-1643 United Kingdom: +44 753-710-5080 United States: +1 302-232-5106 E-mail: askanexpert@thenicheresearch.com
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Global Patented Drugs Market
By Type
- Small Molecule Drugs
- Biologics
- Vaccines
- Gene Therapies
- Antiviral Drugs
- Anti-inflammatory Drugs
- Neurological Drugs
- Cancer Drugs
- Cardiovascular Drugs
- Others
By Distribution Channel
- Hospital Pharmacies
- Drug Stores and Retail Stores
- Online Pharmacies
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
Report Coverage and Deliverables:
Table of Contents
Note: This ToC is tentative and can be changed according to the research study conducted during the course of report completion.
**Exclusive for Multi-User and Enterprise User.
Global Patented Drugs Market Segmentation
Global Patented Drugs Market – Type Outlook (Revenue, USD Million, 2015 – 2031)
Global Patented Drugs Market – Distribution Channel Outlook (Revenue, USD Million, 2015 – 2031)
Global Patented Drugs Market – Regional Outlook (Revenue, USD Million, 2015 – 2031)
**Note: The report covers cross-segmentation analysis by region further into countries
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