Dublin, March 07, 2023 (GLOBE NEWSWIRE) -- The "United Kingdom Pharmaceutical Market, By Drug Type (Generic Drugs v/s Branded Drugs), By Product Type (Prescription Drugs v/s Over-The-Counter Drugs), By Application, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
United Kingdom pharmaceutical market is expected to register robust growth in the forecast period, 2023-2027
Innovations in the fields of oncology, autoimmune, and diabetes treatment will continue to augment the United Kingdom pharmaceutical market.
Emerging markets will see a steady rise in people seeking treatment for these diseases owing to the advancements in treatments and prevention will continue to propel the market growth. A growing number of patients who experience chronic ailments or pain drives the market growth.
In addition to this, chronic illnesses including hypertension and mental health issues are the key driver of the growth in the pharmaceutical market in United Kingdom. The pharmaceuticals that treat rare diseases as advancements in pharmaceuticals offer numerous solutions and up-gradations in medicine uncover more problems.
The Expanding Geriatric Population is Projected to Fuel the Market Growth
Chronic conditions are on the rise and patients are often suffering from more than just one ailment. This development is intensified owing to the growing middle-class and escalating adoption of sedentary lifestyles in emerging markets, which results in obesity, diabetes, and other costly health conditions.
Chronic non-communicable disease prevalence such as cardiovascular diseases or cancer is accelerating the demand for pharmaceuticals. The increasing elderly population and the high requirement for more medical care especially for the older population are driving the growth of the pharmaceutical market.
Government health programs including Medicaid and Medicare enable a wider range of seniors to be covered. Additionally, advancements in healthcare that people are living longer and requiring services for a longer period.
Growing Number of Chronic Diseases is Expected to Bolster the Market Growth
The escalating demand for healthcare and innovative solutions is one of the primary factors propelling market growth. Digitalization, big data, and artificial intelligence drive the transformation of the pharmaceutical sector and allow companies to enhance drug development and patient care beyond the treatment of diseases, which provides a new revenue stream.
For patient care, digital solutions allow the shift from a disease focus to an integrated approach from prevention, screening, diagnostic, treatment, and aftercare. Continuous technological advancement and novel therapeutic approaches have the potential to not only treat but also assist in curing diseases - or identifying and eliminating risk factors before a disease develops.
Part of this development is personalized therapies, a promising approach tailoring medical treatment to the individual characteristics of each patient. The emerging associations between the human microbiome, health, and disease are leading to novel diagnostics and therapeutics thereby improving personalized medicine. All these aforementioned factors are expected to augment the pharmaceutical market across United Kingdom during the forecast years.
Company Profiles: Detailed analysis of the major companies present in United Kingdom Pharmaceutical market.
Takeda Pharmaceutical Company Limited
Vertex Pharmaceuticals (U.K.) Limited
Novartis UK Limited
AstraZeneca UK Limited
Bristol-Myers Squibb Pharmaceuticals Limited
Roche Products Limited
Sun Pharmaceuticals UK Limited
United Kingdom Pharmaceutical Market, By Drug Type:
United Kingdom Pharmaceutical Market, By Product Type:
United Kingdom Pharmaceutical Market, By Application:
United Kingdom Pharmaceutical Market, By Distribution Channel:
United Kingdom Pharmaceutical Market, By Region:
Yorkshire & Humberside
Rest of United Kingdom
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