Analyst expects pharmaceutical sales to top $1.2 trillion by 2024

7 June 2018

A new review of the global pharmaceutical industry forecasts that worldwide prescription drug sales will accelerate to $1.2 trillion by 2024.

The report, from industry analyst EvaluatePharma, says that unmet need in the pharmaceutical industry will propel annual growth to over 6%.

At the same time, pricing pressure and competition from biosimilars and generics will act as a dampener on further growth in the biopharmaceutical and small molecule markets. Analysts have identified $251 billion worth of sales said to be at risk between 2018 and 2024, what amounts to another ‘patent cliff.’

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