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
Tecnotree Named a Visionary in the Inaugural 2026 Gartner® Magic Quadrant™ for CSP AI-Enabled Marketing and Sales Solutions9.10.2026 15:17:00 CEST | Press release
We think Gartner recognizes Tecnotree's open, governed approach to agentic AI as operators make AI the engine of their revenue operations Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, today announced that Gartner has positioned it as a Visionary in the first-ever Magic Quadrant for AI-Enabled CSP Marketing and Sales Solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261009905430/en/ Tecnotree Named a Visionary in the Inaugural 2026 Gartner® Magic Quadrant™ for CSP AI-Enabled Marketing and Sales Solutions A new category for a new operating model. CSPs are fighting saturated markets, rising acquisition costs, and accelerating churn. They are responding with AI-driven automation across the full revenue cycle, from segmentation and campaigns to lead management, CPQ, and renewals, increasingly executed by autonomous agents. According to us, Gartner creation of this Magi
Positive New Data on Corcym’s Perceval Plus Sutureless Aortic Heart Valve Encompasses up to 7-Year Follow-up9.10.2026 15:15:00 CEST | Press release
Data Presented at Annual Meeting of European Association for Cardio-Thoracic Surgery (EACTS), Along with 6 Perceval Plus E-PostersEACTS Also Marks Commercial Launch of TriMemo and Memo 4D Curve, Innovative Repair Devices for Tricuspid and Mitral Valves Corcym, a global medical device company dedicated to cardiac surgery, today announced that positive mid-term data from a sub-analysis of its Perceval Plus sutureless aortic heart valve as part of its MANTRA clinical trial was featured in an oral presentation today at the annual meeting of the European Association for Cardio-Thoracic Surgery (EACTS). The study is the longest follow-up available for Perceval Plus and the FREE tissue treatment from an international multicenter study, and demonstrated excellent durability, safety and quality of life improvements. Perceval Plus is the only sutureless and collapsible aortic surgical heart valve. Its unique design performs in any surgical scenario and is optimal for endoscopy and robotics. The
Ada earns AWS Travel and Hospitality Competency for resolving traveler issues at scale9.10.2026 15:00:00 CEST | Press release
The designation recognizes Ada's technical expertise and proven customer outcomes with airlines, hotels, and travel brands building on AWS.Travel and hospitality customers can find and procure Ada CX through AWS Marketplace. Ada, the pioneer in Agentic Customer Experience, today announced it has achieved the Amazon Web Services (AWS) Travel and Hospitality Competency. The designation recognizes Ada as an AWS Partner with demonstrated technical proficiency and proven customer success helping travel and hospitality brands resolve customer issues at scale. Ada joins a select group of 58 AWS Partners holding the competency, and it reflects a shared commitment to helping travel brands deliver service that holds up on their busiest, most unpredictable days. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261009673638/en/ Ada earns AWS Travel and Hospitality Competency for resolving traveler issues at scale "Travel is where agentic
Hitachi Joins Anthropic’s Critical Infrastructure Defense Program9.10.2026 02:32:00 CEST | Press release
Hitachi, Ltd. (TSE:6501, "Hitachi"), today announced that it has joined Anthropic, PBC’s (“Anthropic”) “Critical Infrastructure Defense Program,” launched on October 8, 2026, as a founding partner. The program is aimed at strengthening cyber defense for critical infrastructure, including control systems supporting power, water, manufacturing, and transportation services. Infrastructure systems that underpin society and the economy cannot tolerate prolonged downtime, making it difficult to implement certain security measures, such as system shutdowns for patch deployment. At the same time, advances in AI are significantly shortening the time between vulnerability disclosure and exploitation, creating an urgent need to redesign systems based on the assumption that cyberattacks will occur. The program seeks to strengthen cybersecurity through rapid vulnerability detection and remediation by integrating Anthropic’s advanced AI models, Claude, into the products and services of trusted syste
Lapmaster Wolters and Precision Surfacing Solutions Secures Strategic Minority Investment from The Cynosure Group and Fernweh Group to Accelerate Growth8.10.2026 22:49:00 CEST | Press release
Investment strengthens the balance sheet and brings long-term strategic partners to support continued growth and expansion across semiconductors, advanced materials, advanced packaging, and precision optics end markets. Lapmaster Wolters and Precision Surfacing Solutions (“Lapmaster Wolters”), a leading global supplier of high-precision machine systems and consumables to the semiconductor, advanced materials, precision optics, and advanced packaging industries, today announced the completion of a minority equity investment by affiliates of The Cynosure Group (“Cynosure”) and Fernweh Group (“Fernweh”). The investment strengthens the balance sheet and adds long-term, engaged partners to support the company’s next phase of growth. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261008141876/en/ Positioned for growth Demand for ultra-high-precision surface finishing continues to grow as customers in semiconductors, advanced mater
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