The global pharmaceutical market size was valued at 1.2 trillion US dollars in 2019, a 3.6% increase compared to 2018; the annual growth rate was 1.2%. The market size grew at a compound annual growth rate (CAGR) of 2.2% from 2015 to 2019. Main pharmaceutical marketsincluding Europe, North America, and Japan, have strived to reduce pharmaceutical costs. For instance, the U.S. announced its approval of importing drugs with lower prices from Canada in mid-December, with the Lower Drug Costs Now Act being formulated in Congress. Other countries have worked hard on promoting generic drugs to reduce pharmaceutical costs. Therefore, the growth rate of the global pharmaceutical market is expected to slow down, and the market size will grow at a CAGR of 4.8% between 2020 and 2024 and reach 1.4 trillion US dollars by 2024.
I、Definition and Scope
II、Development of Pharmaceutical Industry in 2019
III、Key Markets
IV、Future Outlook for the Global Pharmaceutical Industry
V、Development Directions and Suggestions for the Pharmaceutical Industry in Taiwan
Table 1. Categorization of Pharmaceutical Industry in Taiwan