- Prescription drugs, serving as essential components of modern medical treatment, are increasingly vital in managing chronic and acute health conditions due to their therapeutic efficacy, accessibility through healthcare systems, and integration into long-term care protocols
- The escalating demand for prescription drugs is primarily fueled by the rising prevalence of chronic diseases, increasing healthcare expenditure, and the growing aging population globally. In addition, the development of innovative pharmaceuticals and biologics continues to enhance treatment options and drive market expansion
- North America dominated the prescription drugs market with the largest revenue share of 39.90% in 2024, driven by high healthcare spending, strong R&D infrastructure, favourable reimbursement policies, and the widespread availability of advanced treatment options. The U.S., in particular, is a major contributor due to its robust pharmaceutical industry, growing demand for specialty drugs, and continuous pipeline of FDA approvals
- Asia-Pacific is expected to be the fastest growing region in the prescription drugs market during the forecast period, with a projected CAGR of 7.9%, attributed to rising healthcare awareness, growing middle-class population, increasing access to healthcare services, and government initiatives to strengthen pharmaceutical production and distribution
- The branded drugs segment dominated the prescription drugs market with a market share of 62.5% in 2024, attributed to patent exclusivity, strong marketing strategies, and clinical preference in specialty therapeutics
