Based on IQVIA’s pharma market rankings for 2020, we give a rundown of the global top 10, key companies, important trends, and where you can go to learn more.
1. United States
Way out in first place with a market value of USD 533.5 billion in sales in 2020, the USA is the bedrock of global pharmaceutical innovation, although home to a healthcare system plagued with inequalities. Explore more in our 2020 country report.
In second position, with a market value of USD 93 billion is the world’s most populous country, China. Now well established as a core geography within the strategy of almost every pharma multinational, China also hosts a growing cadre of domestic pharmacos and biotechs with international footprints. Explore more in our 2020 country report and download the Pharma Legal Handbook: China, a country-specific legal and regulatory overview.
Just behind its Asian neighbour in the rankings is Japan, with a market value of USD 79.2 billion for 2020. Home to globally present firms such as Takeda, Daiichi Sankyo, Astellas, Chugai, and Astellas, Japanese innovation is world renowned and the country’s ageing 125.8 million population makes for a sizeable domestic pharma market. Read more about Japan in our dedicated portal and get the Pharma Legal Handbook: Japan here.
Home to innovative global giants such as Bayer, Boehringer Ingelheim, and Merck KGaA, Germany sits in fourth in the rankings with a market value of USD 56.6 billion. Germany is also Europe’s top pharma R&D spender, splashing out EUR 8.477 billion in 2019 according to the latest EFPIA figures. For a comprehensive overview of German pharma’s legal and regulatory framework, get the Pharma Legal Handbook: Germany.
Europe’s second largest – and the world’s fifth largest – pharma market is France, with a value of USD 37.8 billion for 2020. France is also the continent’s second biggest pharma producer (behind Switzerland) and hosts global giant Sanofi as well as leading mid-caps such as Servier, Ipsen, and Pierre Fabre. See more on France at our dedicated portal.
Just behind France is its neighbour Italy, with a market value of USD 33.4 billion. With pharma established as a core piece of the national economy, generational market access reform underway, and a burgeoning biotech sector, Italy is certainly a market to watch. To learn more about the country’s legal and regulatory framework for pharma, download the Pharma Legal Handbook: Italy.
7. United Kingdom
Global powerhouses GSK and AstraZeneca call the UK home, and the country’s domestic market stood at USD 28.7 billion in 2020. While the UK has had a turbulent few years politically, with the full fallout from Brexit still unclear, it continues to maintain a position at the top table of international pharma. Read more about the UK in our dedicated portal and download the Pharma Legal Handbook: UK here.
In eighth position is Spain, with a market value of USD 26.3 billion. While not boasting enormous growth rates, Spain is still a sizeable market and emerging trends – such as the fact that private capital raised by Spanish biotechs rose by 46 percent last year – ensure that the country has much to recommend it. Download the Pharma Legal Handbook: Spain here.
Over the northern border from the world’s biggest pharma market is Canada, home to a domestic market of USD 26.3 billion. Canada, although enormous geographically, only holds a population of 38 million, but has long been a frontrunner in arenas like medical cannabis. Read more at our dedicated Canada portal or download the Pharma Legal Handbook: Canada here.
Propping up the Top 10 is the sole Latin American representative, Brazil. Home to a domestic pharma market topping USD 21.0 billion, Portuguese-speaking Brazil has spawned regionally leading firms such as Ache, EMS Pharma, Eurofarma, Neo Química, and Mantecorp Farmasa. Read more on Brazil here or download the Pharma Legal Handbook: Brazil here.