Regional Analysis

Global Patent Medicine Market - Regional Analysis.

On the basis of region, the global patent medicine market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The North America patent medicine system is effective and attracts investments from companies who want profit from pharmaceutical industry. Pharmaceutical companies in the U.S. are investing in research and development of novel medicines. For instance, in July 2020, Pfizer Inc patented its substituted carbonucleoside derivatives useful as anticancer agents. Key players in region are Pfizer Inc and Bristol-Myers Squibb.

Moreover, Europe has a growing market for pharmaceutical companies due to its increasing elderly population, above average expenditure on drugs, and robust use of branded drugs over generic equivalents. Therefore, the pharmaceutical companies in this region are focusing on research and development of novel medicines. For instance, in May 2020, Sanofi Pasteur Biologicals patented pharmaceutical composition containing toxins A and B, which increase stability of toxin in drug.

Furthermore, manufacturers in Asia Pacific region are increasing their focus on research and development in patent medicine market. For instance, in April 2020, Otsuka Pharmaceutical co., ltd, Japan, patented Cyanotriazole compounds, which improve hyperglycemia with less side effects and excellent safety and is useful in treating diabetes.