The global pharmaceutical market is expected to reach over $1300 billion in 2020.
One of the key drivers of the pharmaceuticals market during 2016-2020 is expected to include 'New Methods For Drug Discovery'. Stem cells and organ on chip technologies are changing the way drug trials are being conducted. Organ on chips are micro-engineered biometric systems that simulates activities, mechanics and physiological response of organ systems.
Drug trial processes such as target identification, validation, target based screening and phenotypic screening are being done through organ on chip and stem cell technologies. These technologies are considerably reducing the drug discovery costs and generating reliable predictions on drug efficiency and human safety. Therefore, low drug discovery costs and accurate results generated from these technologies is expected to drive the pharmaceuticals market.
The Americas was the largest region in the pharmaceutical market in 2016, accounting for around 45% market share. Asia was the second largest region accounting for around 27% market share. Europe was the third largest region accounting for around 22% market share.
One of the top trends that is observed in the pharmaceuticals market include 'Turning Away From Animal Testing'. The pharmaceutical industry is moving away from animal testing towards cheaper and more efficient technologies. For example, LiverChip technology created an alternative model of testing which uses a 3D cell culture platform that mimics the architecture and physiology of a human being, which was significantly less expensive and more efficient than animal testing.
- Markets Covered: Pharmaceuticals/Drugs/Medicinal Drugs and Biologics.
- Time Series: Five years historic and forecast.
- Data: Market value in $ billions.
- Merck & Co.
- Gilead Sciences
- Johnson & Johnson
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