What is Blockbuster Drugs Market?
Over the past few years blockbuster to be born supposed to develop aggressive marketing with rising sales volumes in order to secure monopolistic rents offered by patents rapidly. Blockbuster drugs are defined as the drugs that generate at least USD1 billion in revenue a year for the pharmaceutical companies that produce them Blockbuster drugs are used to treat various ac medical problems. For instance, the medications used to treat diabetes, cholesterol, high blood pressure, and cancer. Part of the success of these drugs stems from the fact that they're needed over a long period of time, and that they play a key role in helping doctors manage their patients' conditions. For this reason, the pharma companies are aiming to develop a diverse and successful range of products instead of depending on one or two blockbuster drugs to keep themselves profitable is booming the demand for blockbuster drugs in the market
The market study is being classified by Type (Generic Drug and Brand Name Drug), by Application (Oncology, Immunology, Autoimmune Diseases, Cardiovascular Diseases and Other) and major geographies with country level break-up.
Roche (Switzerland), Bristol-Myers Squibb(United States), Pfizer(United States), Eli Lilly and Company(United States), Merck & Co. (United States), Johnson & Johnson (United States), AstraZeneca (United Kingdom), Celgene (United States), Novartis (Switzerland) and Amgen (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Johnson & Johnson (United States) and Bristol Myers Squibb (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Blockbuster Drugs market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Blockbuster Drugs market by Type, Application and Region.
On the basis of geography, the market of Blockbuster Drugs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Fastest growing pharma companies are generic and have growth is one of the key driving factors of growth of the market
- Niche pharma companies are also adopting a similar approach
- High investing in R&D and commercialization of high-value blockbuster drugs
- The structural trend of increasing pharmaceuticals spending in richer countries and the rising cost of clinical trials still push pharmaceutical groups to focus on the most profitable therapeutic areas cholesterol, oncology, central nervous system, etc
- Stringent laws for the patent
- Poor presence in growing Europe and Asia
- Increasing research and development (R&D) of new drug
- Pharma companies are adopting aggressive marketing strategies to bank on early sales of newly launched products. This gives their product a larger lifetime before the expiry of patents
- Price fluctuations, expiry of patents
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Blockbuster Drugs Manufacturer, Government Regulatory and Research Organizations and End-Use Industry
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