Drug Development Market Outlook 2024 - 2028

Daily Updated Industry Statistics and Top Emerging Trends about the Drug Development Industry

Global Drug Development Trends in 2024

Drug Development is part of Pharmaceutical and includes a number of sub-sectors such as Proteomics, Clinical Trial, Clinical Research and Pharmaceutical Patent. You may also be interested in Pharmacy.

Global pharmaceutical research and development (R&D) expenditure is projected to reach approximately $219 billion by 2028, up from around $171 billion in 2023. This marks an average annual growth rate of 3.9%. Since 2019, global supply in the sector has experienced a substantial annual increase of 11.4%. In 2023, the United States led the world in business enterprise expenditure on R&D, with spending reaching $122 billion. Following the U.S., China, Germany, and South Korea ranked second, third, and fourth respectively in R&D expenditure. Among notable trends, Hungary's R&D spending surged by 23.4% year on year, while Mexico saw a decline of 6.1% annually since 2019.

Top 10 countries

In 2024 major markets in the Drug Development Industry were:

World Drug Development Market Data and Forecasts

How much the Drug Development industry is expected to grow to 2028?

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Global Drug Development Statistics

Global Drug Development Industry Database