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
Galderma Announces Proposed Board Appointments and Chief Financial Officer Transition2.11.2026 18:00:00 CET | Press release
The Company will hold an Extraordinary General Meeting on December 3, 2026 to further reinforce its Board of DirectorsAd hoc announcement pursuant to Art. 53 LR Galderma Group AG (SIX:GALD), the pure-play dermatology category leader, today announced proposed changes to its Board of Directors, aimed at further strengthening its governance and supporting its long-term growth. The company also announced that Luigi La Corte, Chief Financial Officer (CFO), has decided to leave Galderma to pursue a significant new opportunity. Luigi La Corte will continue to fulfil his responsibilities as CFO during the transition period, supporting business continuity and a smooth handover. The company will communicate further details regarding succession arrangements and the transition timeline in due course. The Board of Directors is proposing the election of Rosalind Brewer and Petra Rumpf as new Board members. Both candidates bring extensive leadership and governance experience, alongside expertise span
Donaldson Introduces Alpha-Pore™ Technology Platform for Extended Sterile Filtration Performance2.11.2026 15:35:00 CET | Press release
Donaldson Company, Inc. (NYSE: DCI), a leading worldwide manufacturer of innovative filtration products and solutions, today announced Alpha‑Pore™ technology, a next generation sterile filtration platform engineered to extend filter service life while maintaining critical process performance. Built for critical applications, Alpha‑Pore technology enables longer filter run time compared with competitive single- and dual-layer polyethersulfone (PES) membrane filters, while maintaining flow characteristics, sterility assurance, and process integrity.* The platform is designed to help manufacturers improve operational efficiency through fewer changeouts and more consistent performance over time. Engineered for Extended Performance Sterile filtration processes often require balancing run time with key performance parameters such as flow, differential pressure, and contaminant retention. Alpha‑Pore technology is designed to achieve all three. By optimizing pore structure and filter architect
SBC Medical Forms Capital and Business Alliance with AtomicSoftware, Provider of the medicalforce Clinic Management Platform Used by 800+ Clinics in Japan2.11.2026 15:00:00 CET | Press release
Companies to co-develop AI features, starting with physician documentation support, to enhance medicalforce and SBC Medical’s in-house systems and drive per-clinic productivity and profitability SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“The Company” or “SBC Medical”), a Medical Services Organization (MSO) providing management support across a wide range of healthcare fields, today announced that it entered into a capital and business alliance agreement on October 26, 2026, with AtomicSoftware Inc. (“AtomicSoftware”), the Tokyo-based provider of medicalforce, an all-in-one software-as-a-service (SaaS) platform for clinics. In connection with the alliance, SBC Medical has invested ¥600 million (approximately US$3.8 million) in AtomicSoftware’s Series C funding round. The two companies will co-develop AI features, beginning with a feature that supports physicians in preparing medical records. Key HighlightsProven platform: medicalforce is used by more than 800 clinics*1 in J
Smartly Launches Intelligence Pro to Connect Campaign Planning, Performance and Incrementality2.11.2026 15:00:00 CET | Press release
The new offering brings together planning, performance benchmarks, headroom analysis and incrementality signals to help marketers make more informed decisions across the campaign lifecycle Smartly, the AI-powered advertising technology company, today launched Intelligence Pro, a premium offering that brings together four capabilities to help marketers plan investment, understand true incrementality and determine where to spend their next dollar. Intelligence Pro connects causal inference models with planning tools to help marketers prove business impact and make faster decisions from increasingly complex data. “Marketing teams are inundated with data, but the challenge is identifying what signals are useful and turning them into a decision they can act on,” said Maxwell Tang, Chief Product Officer at Smartly. “Intelligence Pro brings forecasting, market context and state-of-the-art incrementality signals together to help marketers assess where to invest and what their media is contribu
NetApp Completes Acquisition of PEAK:AIO to Accelerate Zettabyte-scale AI Deployments2.11.2026 14:00:00 CET | Press release
Acquisition strengthens NetApp Novus, high-performance storage, with differentiated metadata technology and a parallel file architecture purpose-built for AI NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that it completed the acquisition of PEAK:AIO, a pioneer in next-generation metadata architecture and high-performance parallel file systems. With this acquisition, NetApp can leverage metadata services and parallel namespace innovations to power the fastest storage on the planet, NetApp Novus, to support zettabyte-scale file systems for the most demanding workloads of AI clouds and GPU-as-a-service providers. For the best AI infrastructure economics, organizations need to keep GPU resources continuously supplied with data without bottlenecks. The acquisition advances NetApp’s strategy for the next phase of AI infrastructure by bringing PEAK:AIO’s metadata and parallel file system expertise together with NetApp ONTAP, giving customers a path to AI
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