Forecast: Import of Pharmaceutical Products to the US

The US pharmaceutical imports have shown a varied trend from 2013 to 2023, with significant fluctuations. From 2013 to 2018, there was a steady increase in import values, peaking in 2018 with a remarkable 19.32% year-on-year growth. However, the import value dipped by 13.4% in 2020, likely influenced by the COVID-19 pandemic. A substantial rebound occurred in 2021 with a 37.92% increase. By 2023, the import value stood at $135.55 billion, reflecting a moderate 3.62% growth compared to 2022. Over the last five years, the compound annual growth rate (CAGR) was 3.26%.

Looking ahead, the forecast projects a gradual increase in US pharmaceutical imports, with an average annual growth rate (CAGR) of 2.6% over the next five years, reaching $161.01 billion by 2028, reflecting an overall growth of 13.68%.

Future trends to watch for include:

• Global supply chain dynamics and their impact on import volumes.
• Regulatory changes in the US and major exporting countries.
• Emerging pharmaceutical markets and innovation in drug development.
• The ongoing influence of geopolitical factors on international trade.
• Post-pandemic recovery and changes in healthcare spending patterns.