Question

what are the market growth rates for the Retail pharmaceutical industry from 2015-2019 in the US? Please describe whether they are positive or negative.

Answer 1

The United States has one of the world's most supportive domestic environment for the development nd commercialization of pharmaceutical and minimal market barriers. It's strength includes an intellectual property system that rewards innovation through patent and data protection, a science based regulatory system that is consistent the most rigorous in the world. The largest scientific research base fostered by academic institutions and decades of government research funding and robust capital market.

The US pharmaceutical market is the world's most important national market together with Canada and Mexico. It represents the largest continental pharma market worldwide. The US alone holds over 45% of global pharmaceutical market. In 2016, this share was valued around 446bn US dollar. Many of the global top companies are from US. In 2016 out of 10, six were from US like; Johnson and Johnson, Pfizer and Merck and Co.

J&J generated around $72 bn revenue in 2016.

Regarding medical research and development, US has always been a pioneer. Almost $ 60 bn are spent annually on pharmaceutical R& D purpose in US. The R& D expenditure per employee in pharma industry are incomparably higher than in any other manufacturing sector.

In recent years, the 3 top therapy classes for which most money was spent included Oncology, Diabetes and autoimmune.$ 110 bn were spent on these areas in 2015. Gilead sciences Harvoni, a Hepatitis C drug was best selling drug in the US, generated $ 14 bn in revenue.

The US patent term is 20 years and drugs are eligible for at least 5 yers of market exclusively depending on the time between patent validity and US food and Drug Administration approval.

US genetic drugs sales reached an estimated $ 70 bn in 2018 representing a quarter of the global market.

60% of American adults think that the quality of products manufactured by US pharmaceutical companies is good or Excellent.