The pharmaceutical industry is thriving due to the increasing incidence of chronic diseases, the rising number of elderly individuals, higher healthcare spending by governmental bodies worldwide, and extensive initiatives aimed at enhancing the affordability and availability of pharma products.
The U.S. pharmaceutical market is expected to grow at a CAGR of 5.5% from 2024 to 2030. Meanwhile, the IQVIA Institute predicts that global spending on medications is expected to hit $2.3 trillion by 2028 as more patients get access to new and better medicines.
