GLOBAL ETHICAL PHARMACEUTICALS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

One of the major challenges faced by the ethical pharmaceuticals market is pricing pressure. As healthcare costs continue rising globally, governments and insurance companies are looking to curb spending on drugs. This puts downward pressure on prices of ethical medicines. Additionally, the drug development process is long and complex, taking 8-12 years on an average to bring a new drug to the market. This ties up huge capital for pharmaceutical companies. Getting regulatory approvals from various countries adds to the compliance burden on drug makers. Expiring patents of blockbuster drugs also impact revenues, decrease the sales of branded drugs.

Market Opportunities - Growing global population:

At the same time, there are opportunities for growth in this market. A rapidly aging global population drives the need for more healthcare and medical treatments. The rise of non-communicable chronic diseases like cancer, diabetes, and cardiovascular illness increases the scope for ethical drug makers. Developing markets like India and China offer significant growth opportunities for market development over the projected .