MA-EVALUATE
4.6.2019 14:02:06 CEST | Business Wire | Press release
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
Pivotal Trial Data for EP0031 (A400), a Next-Generation Selective RET Inhibitor (SRI), in RET Positive Advanced NSCLC, to be Presented at ASCO 202622.5.2026 11:18:00 CEST | Press release
Ellipses Pharma (“Ellipses”), a global oncology drug development company with a pipeline of innovative programmes, announced today that its partner, Kelun-Biotech, is presenting pivotal trial data for EP0031/A400, for the potential treatment of RET-fusion positive Non-Small Cell Lung Cancer (NSCLC), at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting Chicago, May 29 to June 2. Efficacy and safety of lunbotinib (A400/EP0031), a next-generation selective RET inhibitor (SRI), from a pivotal phase Ⅱ study in patients with advanced RET-fusion positive non-small cell lung cancer (NSCLC), will be presented as an oral presentation scheduled on May 29, 2026, 14:36-14:48 local time (Abstract #8505: Lung Cancer – Non-Small Cell Metastatic). The oral presentation of these data at the prestigious ASCO annual meeting, represents another major milestone in the global development of EP0031/A400 as a next generation SRI. The data were generated in Kelun-Biotech’s Phase 2 study (NCT0
FPT Launches Flezi Foundry™, Advancing AI-Augmented Delivery for Global Enterprises22.5.2026 10:11:00 CEST | Press release
Global IT corporation FPT announced the launch of Flezi Foundry™ (FPT Digital Foundry™), an AI-augmented delivery platform for software development and IT operations. Built around a governed Service-as-a-Software model, the platform combines autonomous AI agents, human expert oversight, secure infrastructure, and outcome-based delivery mechanisms to help enterprises modernize technology delivery as AI agents become part of software engineering and IT operations. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260521235556/en/ Flezi Foundry applies Agentic Engineering, a structured delivery approach for software development and IT operations. The model brings AI agents into delivery workflows with human supervision, governance, transparency, and performance measurement built into the process. Flezi Foundry operates through two service modes: Agentic Development Lifecycle (ADLC) supports software development by using specialize
Boomi Named One of The Sunday Times Best Places to Work 202622.5.2026 08:00:00 CEST | Press release
Employee-led recognition places Boomi among the UK's top medium-sized employers, with a flight risk of just 3% against a technology sector average of 42% Boomi achieves an average employee happiness score of 86%, rated Excellent across all six dimensions of WorkL's workplace framework Flight risk of just 3%, compared to a technology sector average of 42%, reflecting exceptional levels of employee loyalty Rated Excellent for Diversity and Inclusion and Confidence in Management Boomi, the data activation company for AI, has today been named one of The Sunday Times Best Places to Work 2026 in the Medium Organisation category. The prestigious annual list, produced by The Sunday Times in partnership with global workplace analytics company WorkL, recognises the UK's finest employers based entirely on direct employee feedback, making it one of the most credible and transparent employer benchmarks in the country. This press release features multimedia. View the full release here: https://www.b
LTM Has Issued an Offer to Acquire Randstad’s Technology and Consulting Services Business in Europe and Australia to Scale Domain-Driven Solutions and AI Services22.5.2026 07:09:00 CEST | Press release
The deal would be part of a 360° partnership with Randstad involving: Proposed acquisition of USD 500M+ (€469M) business, primarily across Aerospace & Defence, Automotive, Utilities and BFS Five-year IT services partnership to drive AI-enabled transformation for Randstad’s India Global Capability Center Strategic talent MSP to support LTM’s expanding global workforce LTM and Randstad announced that LTM has issued an offer to acquire Randstad’s Technology and Consulting Servicesbusiness in France, Germany, Belgium, Luxembourg and Australia, representing USD 500+ million (€469M) in annual revenue, to scale domain-driven solutions and AI services in the region. The proposed acquisition would expand LTM’s presence in key markets, primarily across Aerospace & Defence, Automotive, Utilities and BFS. It would enable local domain expertise and complementary regional capabilities in domain-driven digital engineering, cybersecurity and IoT, supported by onshore and nearshore delivery through cen
Polpharma Biologics and Tuteur Sign Licensing Agreement for a Biosimilar for Autoimmune Diseases22.5.2026 07:00:00 CEST | Press release
Polpharma Biologics, a leading biopharmaceutical company specializing in the development and manufacturing of biosimilars, today announced the signing of a landmark licensing agreement with Argentina-based Tuteur. Under this strategic partnership, Tuteur will obtain exclusive rights to commercialize a biosimilar for autoimmune diseases across Latin America (LATAM), excluding Brazil. Polpharma Biologics will retain full responsibility for the development and manufacturing of the biosimilar. Tuteur will be responsible for commercialization, marketing, and distribution in the licensed territories. This collaboration reflects a shared commitment to expanding patient access to high-quality, affordable biological therapies across the region. “Partnering with Tuteur represents an important step in advancing our mission to broaden access to biosimilars globally,” said Anjan Selz, CEO of Polpharma Biologics. “With their strong regional expertise and commercial capabilities in LATAM, we are well
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