Patented Drugs Market By Dosage Form (Solid Drug Product, Liquid Drug Product, Others), By Indication (Cardiovascular Diseases, Cancer, Autoimmune Diseases, Others), By Distribution Channel (Hospital Pharmacies, Drug Store and Retail Pharmacies, Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2023-2032
The patented drugs market was valued at $814.5 billion in 2022 and is estimated to reach $1,456.5 billion by 2032, exhibiting a CAGR of 6.0% from 2023 to 2032. Patented drugs are pharmaceutical products that have been granted legal protection through a patent by government authorities, such as U.S. Patent and Trademark Office (USPTO), Intellectual Property Office, Japan Patent Office, and others. A patent is a legal protection that gives the patent holder exclusive rights to manufacture, use, and sell the patented drug for 20 years from the filing date of the patent application. During this period, other companies are prohibited from producing or marketing the same drug without permission from the patent holder. Patented drugs are the result of significant research and development efforts, and patents serve as a mechanism to protect and incentivize innovation in the pharmaceutical industry.
The patented drugs market growth is driven by increase in the number of research activities for development of new drugs, advancement in biotechnology and 3D modeling, and rise in people suffering from chronic diseases. Researchers explore various disease mechanisms, molecular pathways, and drug targets to identify potential areas for therapeutic intervention. This creates opportunities for the development of new drugs which drives the growth of patented drugs market. Furthermore, the prevalence of chronic diseases, such as cardiovascular diseases, cancer, diabetes, respiratory disorders, and neurological conditions, has been steadily rising globally. For instance, in 2021 American Cancer Society (ACS), estimated that about 1.9 million new cancer cases were diagnosed in the U.S. The available patented drugs for cancer include Avastin, KYPROLIS, IBRANCE, and others. This rise in chronic diseases has led to a higher demand for effective treatments and management strategies, which in turn drives the growth of the patented drugs market.
In addition, the availability of robust regulatory authorities such as U.S. Food and Drug Administration (FDA) or the European Medicines Agency (EMA) determines the drug approval process and grant market exclusivity to pharmaceuticals. This exclusivity period provide advantages for pharmaceutical companies, enabling them to recover their investment and generate revenue from patented drugs. Furthermore, increase in number of patent application filing in 2022 further boost the growth of the patented drugs market. For instance, in 2022, European Patent Office (EPO), received a total of 193,460 applications. It was also reported that patent activity in pharmaceuticals increased by 1% as compared to 2021.
However, entry of generic versions of the drug at lower prices after patent expiration limit the growth of the patented drugs market. The availability of cheaper alternatives may impact the demand for patented drugs. Furthermore, high costs associated with new drug development is financially challenging for pharmaceutical companies and limit their ability to invest in innovation and develop new patented drugs thereby impacting the market growth. On the other hand, surge in technological advancements, such as precision medicine, genomics, proteomics, and targeted therapies, are revolutionizing drug discovery and development. These advancements enable the development of more effective and patented drugs during the forecast period.
The patented drugs market is segmented on the basis of dosage form, indication, distribution channel, and region. On the basis of dosage form, the market is classified into solid drug product, liquid drug product, and others. Others segments include semi-solid drug and gaseous drug. As per indication, the market is categorized into cardiovascular diseases, cancer, autoimmune diseases, and others. On the basis of distribution channel, the market is segmented into hospital pharmacies, drug stores and retail pharmacies, and online pharmacies. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global patented drugs market are AbbVie Inc., Amgen Inc., Pfizer Inc., Novartis AG, AstraZeneca plc, Bayer AG, Johnson & Johnson, F. Hoffmann-La Roche AG, Astellas Pharma Inc., and Biogen. Key players operating in the market have adopted patent and patent extension as their key strategies to expand their market share and product portfolio.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the patented drugs market analysis from 2022 to 2032 to identify the prevailing patented drugs market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the patented drugs market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global patented drugs market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Distribution ChannelHospital Pharmacies
Drug Store and Retail Pharmacies
Online Pharmacies
By Dosage FormSolid Drug Product
Liquid Drug Product
Others
By IndicationCardiovascular Diseases
Cancer
Autoimmune Diseases
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Amgen Inc.
Pfizer Inc.
AstraZeneca plc
Bayer AG
Biogen
Johnson & Johnson
Astellas Pharma Inc.
F. Hoffmann-La Roche AG
Novartis AG
AbbVie Inc.
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