Increase in Healthcare Expenditure is propelling the demand for the prescription drugs in North America.

The increase in the spending on the healthcare is anticipated to boost the demand for the prescription drugs. For instances, according to assistance spending for the planning and evaluation (ASPE) 2021 report, the drug spending is heavily driven by a relatively small no. of high cost products, further, as per the above-mentioned source, the cost spending of speciality drugs has continued to grow, totaling of USD 301 billion in 2021, an increase in 43% since 2016. Prescription drugs represent an overall 50% of the total drug spending. Thus, the above-mentioned element is anticipated to fuel the growth of the market in the forecast period.

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North America Prescription Drugs Market Revenue (2020-2028) – USD Mn

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Based on product type, the market is segmented into generics, branded, orphans and others. Amongst these, the generic drug segment is anticipated to grow with a significant CAGR in the 2021 market.

Based on the therapeutic area the market is segmented into oncology, anti-diabetic, vaccines, sensory organs, immunosuppressants, anti-coagulants and others. Amongst these, the immunosuppressant segment is anticipated to grow with a significant CAGR in the 2021 market.

Based on the distribution channel the market is segmented into hospital pharmacies, retail pharmacies and online pharmacies. Amongst these the hospital pharmacies segment is anticipated to grow with a significant CAGR during the forecasted period.

Global Prescription Drugs Market Segmentation

Market Insight, by Product Type

• Generic
• Orphan
• Others

Market Insights, by Therapeutic Area

• Oncology
• Anti-Diabetic
• Vaccines
• Sensory Organs
• Immunosuppressant’s
• Anti-Coagulant
• Others

Market Insights, by End-Users

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Market Insight, by Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • India
  • South Korea
  • Rest of APAC
• Rest of the World

Top Company Profiles

• F. Hoffmann-La Roche Ltd
• Teva Pharmaceuticals USA, Inc.
• sanofi-aventis U.S. LLC
• Pfizer Inc.
• GSK plc
• Novartis AG
• Merck & Co., Inc.,
• AbbVie Inc.
• AstraZeneca
• Johnson & Johnson Services, Inc