The pharmaceutical market continues to expand globally with aging populations and the development of new drugs. Global medical spending is expected to increase to nearly $1.80 trillion by 2026.
The United States accounts for about 45% of the global pharma market. U.S. pharmaceutical sales should remain robust in 2022 due to continued COVID-19 vaccine rollouts and surging demand for treatments. While vaccinations buoy the industry in the near term, the market’s growth is expected to be driven by the aging population in the long run.
