North America Market Analysis
On the basis of geographical analysis, the global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is poised to dominate majority revenue share by 2036, on the back of growing technical research in the region, with high investment in the R&D for advanced technological innovations in the field of medicines. Moreover, presence of major pharmaceutical companies in the countries, such as, Canada and United States, is estimated to boost the market growth.
APAC Market Statistics
The market in the Asia Pacific is estimated to garner significant share over the forecast period owing to the increasing investment in the pharmaceutical companies and growing generic drugs industry in countries, such as, China, and India. For instance, according to the data by the India Brand Equity Foundation (IBEF), the pharmaceutical market in India exported vaccines and generic drugs worth USD 24.44 billion in FY21. Moreover, APAC region is the nucleus of chemical industry, which is estimated to further fuel the market growth.
Author Credits: Rajrani Baghel
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