The US pharmaceutical industry exports have shown significant growth from 2013 to 2023, increasing from 43.16 billion USD to 94.94 billion USD. The year-on-year changes indicate variability, with notable growth spurts in 2019 (11.7%) and a significant leap in 2021 (42.01%), followed by steady growth in subsequent years—11.87% in 2023.
Future forecasts suggest continued expansion, with export values expected to reach 143.8 billion USD by 2028. The compounded annual growth rate (CAGR) over the last five years (2019-2023) stands at 13.03%, while the projected CAGR from 2024 to 2028 is forecasted at 6.51%, indicating a slight slowdown but maintaining a robust upward trajectory.
Key future trends to watch for include advancements in biotechnology, rising global demand for innovative therapies, and increasing international market penetration by US pharmaceutical companies. Additionally, potential regulatory changes and global economic conditions may shape the trajectory of this growth.