In 2023, countries around the globe have gradually escaped the impact of the COVID-19 (Coronavirus Disease 2019) pandemic. However, major international political upheavals, such as the US-China trade war, the war in Ukraine, and the Israel–Hamas war, have further intensified the restructuring of the supply chain of the global pharmaceutical industry. Countries around the globe are aware of the problem of shortages of pharmaceuticals and related raw materials and have gradually regarded the supply of pharmaceuticals as an important issue for national security, introducing multiple measures to encourage local production of pharmaceutical products. In addition, the global economic environment has yet to fully recover in 2023, and continued global inflation has led to increased pharmaceutical expenditures across major markets, prompting regulatory agencies worldwide to intensify the implementation of drug pricing and cost control mechanisms to curb the growth of the pharmaceutical market. According to data from Fitch Solutions, the size of the global pharmaceutical market in 2023 was approximately US$ 1.5 trillion, a 3.6% growth compared to 2022. The Compound Annual Growth Rate (CAGR) from 2019 to 2023 was 5.1%.
I、Definition and Scope of the Industry
II、Development of the Pharmaceutical Industry in 2023
III、Key Market
IV、Future Outlook for the Global Pharmaceutical Industry
V、Development Directions and Suggestions for the Pharmaceutical Industry in Taiwan
Table 1 Classification of Pharmaceutical-related Industries in Taiwan