MA-EVALUATE
The $1.18tr forecast for the 2024 global prescription drug market reflects the role new technologies will play in addressing unmet medical needs, as strong expectations for immuno-oncology products and emerging cell and gene therapies drive growth. In 2018, new molecule approvals from the FDA reached their highest level in over a decade, and the projected CAGR of 6.9% from 2019-2024 significantly outpaces the 2.3% CAGR seen from 2010-2018.
Growth Drivers:
- 2018 saw 62 FDA approvals for novel drugs, an increase over the 55 approvals in 2017
- Oncology therapies to reach $237bn in 2024, with a CAGR of 11.4%
- Orphan Drugs will contribute an additional $109bn in sales in 2024, compared to 2018
However, as more new technologies reach the market, drug pricing pressure may continue to intensify and dampen the overall sales outlook. R&D spending is also forecast to grow more slowly from 2019-2024 than in prior years, and decrease as a proportion of overall sales – a sign of either increasing R&D efficiency, or of companies focusing on smaller indications with lower clinical development costs.
Growth Brakes:
- $198bn in sales are at risk between 2019 and 2024, due to patent expirations
- Anti-rheumatics sales decline as Humira, Enbrel and Remicade face competition
- R&D as a proportion of prescription sales is forecast to decline from 21.6% in 2018 to 18% in 2024
“Scientific advancements and health technologies are converging to deliver new options for patients, while challenging traditional drug development and commercialisation models,” said report author Ryan Waters. “The question is, which companies are best poised to take advantage of the evolving pharmaceutical market?”
Top Performers:
- Pfizer will be the leading prescription drug company in 2024, with projected sales of $51.2bn
- Keytruda is forecast to be the top selling drug in 2024, as Humira slips in the face of biosimilars
- Johnson & Johnson overtakes Roche to be the biggest spender on pharmaceutical R&D in 2024
Download your complimentary copy of the “EvaluatePharma® World Preview 2019, Outlook to 2024” at https://www.evaluate.com/thought-leadership/pharma/evaluatepharma-world-preview-2019-outlook-2024 , or visit us at Booth #2243 at the BIO International Convention, June 3-6, in Philadelphia, PA.
About Evaluate Ltd.
Evaluate provides trusted commercial intelligence for the pharmaceutical and medical device industries. Our EvaluatePharma® and EvaluatePharma Vision online subscription services provide a seamless view of the past, present and future of the global pharmaceutical market in a single, standardised platform.
Vantage – our award-winning, independent editorial team – provides thought-provoking news and insights into the current and future developments in the industry.
Evaluate has been a partner to industry-leading organisations for over 20 years. For more information on how we give our clients the time and understanding to drive better decisions, visit www.evaluate.com .
Follow us on Twitter: @EvaluatePharma, @Vantageanalysis
View source version on businesswire.com: https://www.businesswire.com/news/home/20190604005091/en/
Contact:
Media Contact: Evaluate and Vantage Jennifer Dinkel +1 617-936-7783 jennifer.dinkel@evaluate.com
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Esmark Expands Global Sports Commitment With Sponsorship of Slovakian Professional Hockey Team19.1.2026 14:00:00 CET | Press release
Sponsorship unites local talent and gives the people of Košice a team of their own Esmark Sports Management and Entertainment, a wholly owned subsidiary of Esmark Inc., announced today it is the team sponsor and co-owner of a newly established professional hockey team in Košice, Slovakia. This partnership underscores Esmark’s commitment to supporting sports development and strengthening community connections through the unifying power of athletics. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260119104207/en/ Esmark Sports Management and Entertainment, a wholly owned subsidiary of Esmark Inc., is the team sponsor and co-owner of a newly established professional hockey team in Košice, Slovakia. The Hockey Club Esmark Košice team began competing in the 2HL division of professional ice hockey in Slovakia in the 2025-2026 season. The roster features players from Košice who have been competing for clubs across Slovakia. “The cr
WHOOP Becomes Official Health and Fitness Wearable Partner and Team Partner of Scuderia Ferrari HP19.1.2026 13:38:00 CET | Press release
A First in Formula 1: WHOOP to Deliver Health Insights Across the Scuderia Ferrari HP Team WHOOP, the human performance company, today announced a new, global partnership with Scuderia Ferrari HP as the Official Health and Fitness Wearable Partner and Team Partner. Starting in the 2026 season, Scuderia Ferrari HP cars and drivers will host the WHOOP logo, while WHOOP will be provided to members of the team to unlock insights on their health, recovery, and fitness. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260119602892/en/ This partnership also unlocks a first-of-its-kind integration in which the medical team supporting Scuderia Ferrari HP will work closely with the WHOOP Performance Science team, led by Dr. Kristen Holmes, on enhancing the physical efficiency and recovery for the entire Scuderia Ferrari HP organization. Together, they will work on the foundational elements of health and fitness with a unique human optim
Logistics Reply Announces the Launch of Its Warehouse AI Agent Builder, GaliLEA Dynamic Intelligence19.1.2026 12:32:00 CET | Press release
Logistics Reply, the Reply group company specialising in innovative solutions for supply chain execution and warehouse management, announced today the release of GaliLEA Dynamic Intelligence, the new AI Agent Builder, part of its agentic AI solution natively embedded within the LEA ReplyTM Platform, the microservices-based platform for warehouse and supply chain execution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260119708355/en/ LEA Reply enables end-to-end supply chain execution while continuously evolving to address increasing levels of automation and operational complexity. Designed to support warehouse operations through a flexible and scalable architecture, LEA Reply enables end-to-end supply chain execution while continuously evolving to address increasing levels of automation and operational complexity. With the introduction of GaliLEA Dynamic Intelligence, the platform enables users to design, configure, and d
Europe’s Tech Services Market Hits New High in Q4, on Strong AI, Cloud, Managed Services Demand: ISG Index™19.1.2026 10:00:00 CET | Press release
Combined market ACV up 27%, to record US $10.9 billionManaged services ACV up 19%, while XaaS soars 34% Demand for technology services in Europe reached a new high in the fourth quarter as the region turned in its best quarterly performance of the year to close out 2025, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a global AI-centered technology research and advisory firm. The EMEA ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, shows fourth-quarter ACV for the combined market (both managed services and cloud-based as-a-service) advanced 27 percent, to a record US $10.9 billion. It was the region’s eighth consecutive quarter of combined market growth, averaging 16 percent in that span. “Europe saved its best for last, with accelerating, AI-fueled demand for cloud services, coupled with renewed momentum in managed services, leading the region to its strong
Celonis Champions “Free the Process” Movement at WEF Davos 202619.1.2026 10:00:00 CET | Press release
Process Intelligence leader to demonstrate why open ecosystems and open data access are critical to bridge the gap between AI hype and economic impact Celonis, a global leader in Process Intelligence - a key enabler of enterprise AI, today announced its participation in the World Economic Forum (WEF) Annual Meeting 2026. Under the event’s theme “A Spirit of Dialogue,” Celonis leaders — including Co-founder and Co-CEO Bastian Nominacher and President Carsten Thoma — will outline what’s needed to make the critical shift from AI experimentation to responsible AI implementation and meaningful RoAI (Return on AI Investment). In an AI-driven world, processes are the engine of enterprise value, and process intelligence is the essential foundation for AI, giving it the cross-system context needed to drive real growth. At WEF 2026, Celonis will outline how an open ecosystem enables organizations to "Free the Process" from rigid systems and vendor-locked silos, so that teams can collaborate, com
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom