The Pharmaceutical Preparation Sales in the US has exhibited fluctuations over the past years. Starting in 2013 with $120.03B, it reached $157.58B in 2019, showing a consistent growth. However, a notable decline occurred in 2020, dropping to $132.98B, likely influenced by external factors. Recovery was rapid, hitting $179.1B in 2021. As of 2023, the sales value stands at $167.85B, demonstrating modest growth.
Key trends observed:- Between 2013-2019, the market grew steadily with slight annual increases.- A sharp drop in 2020, followed by a significant recovery in 2021.- Stabilization and slower growth rates from 2022 onwards.
Year-on-Year Variations:- 2021: +34.67%- 2022: -7.67%- 2023: +1.51%
Five-Year CAGR for historical data (2019-2023) indicates an average annual increase of 1.62%. Looking ahead, a forecasted CAGR of 1.15% for 2024-2028 suggests continued, albeit slower, growth with an expected 5-year growth rate of 5.87%.
Future trends to watch for involve:- Innovations in drug development and delivery.- Regulatory changes.- Impact of global health events.- Shifts in healthcare policies and insurance coverages.