Key Prominent Players Covered in the Pharmaceuticals Market Research Report Are GlaxoSmithKline plc., F. Hoffmann-La Roche Ltd., Novartis AG, Johnson & Johnson Services Inc., Merck & Co., Inc., Pfizer, AstraZenec, Sanofi, Novo Nordisk A/S and other key market players.Pune, India, Jan. 15, 2021 (GLOBE NEWSWIRE) — The global pharmaceuticals market size is expected to gain momentum by reaching USD 2,151.1 billion by 2027 while exhibiting a CAGR of 7.0% between 2020 and 2027. This is attributable to the increasing prevalence of chronic disease and the growing adoption of modern technologies that is leading to the evolving pharmaceuticals sector amid COVID-19 globally. This information is published by Fortune Business Insights. The report further mentions that the market stood at USD 1,230.2 billion in 2019. Stalled R&D Healthcare Projects Owing to COVID-19 to Hinder GrowthIn March 2020, companies such as Pfizer, Eli Lilly, Bristol-Myers Squibb, and Provention Bio, among others officially announced the postponing of the clinical trials that were underway to focus on the novel coronavirus. According to the research of clinicaltrials.gov, around 2522 clinical trials were suspended, and 1099 trials got postponed between the months of January and May 2020. Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/impact-of-covid-19-on-pharmaceuticals-market-102685 The postponement of R&D healthcare projects has led to the reduced demand for pharmaceuticals that is affecting the growth of the market. However, the increased spending in the healthcare sector, along with the rising focus on finding a cure for the global pandemic is expected to bode well for the market in the near future. A massive spurt in healthcare spending owing to the burden of the treatment of chronic diseases and several disorders for the past ten years has boosted the adoption of pharmaceutical products globally. The pharma companies are aiming to provide affordable and efficient treatment to the patients by focusing on innovating their products to cater to the rising demand. Increasing Prevalence of Chronic Disease to Accelerate GrowthAccording to the report by the Partnership to Fight Chronic Disease Organization, around 133 million Americans that constitute over 45% of the total population suffer from at least one chronic condition. The increasing prevalence of chronic disease is expected to propel the demand for advanced pharmaceuticals by the patients globally. Additionally, the emergence of technology has led to the increasing adoption of innovative digital technologies to provide better diagnosis and treatment facilities. These factors are likely to boost the global pharmaceuticals market growth in the forthcoming years. Click here to get the short-term and long-term impact of COVID-19 on this Market.Please visit: https://www.fortunebusinessinsights.com/impact-of-covid-19-on-pharmaceuticals-market-102685 Drug Segment Held a Major Market Share in 2019 The drug segment, based on the type, held a major share of the market in 2019 and is expected to showcase considerable growth backed by the increasing sales of generic and prescription pharmaceuticals drugs. Presence of Established Players in North America to Favor GrowthAmong all the regions, North America is expected to experience significant growth and hold the highest position in the global pharmaceuticals market during the forecast period. This is attributable to the increasing innovation in the pharmaceutical industry owing to the presence of major pharma companies in the region. North America stood at USD 501.7 billion in 2019.Europe, on the other hand, is expected to hold the second position in the market during the forecast period. This is ascribable to factors such as the increasing investment in R&D activities to develop effective pharmaceutical vaccines in the region between 2020 and 2027. Product Innovation by Major Companies to Gain Market DominanceThe global pharmaceuticals market is fragmented by the presence of major companies that are focusing on introducing innovative pharmaceutical products to cater to the growing demand from the healthcare sector. In addition to this, other key players are adopting organic and inorganic growth strategies to maintain their presence that will favor the growth of the market in the forthcoming years. Quick Buy – Pharmaceuticals Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102685 Industry Development:July 2020 – GlaxoSmithKline plc and CureVac announce their collaboration for research, development, manufacturing, and commercialization of up to five mRNA-based vaccines and monoclonal antibodies (mAbs). The companies are focusing on targeting infectious disease pathogens to develop advanced vaccines. List of the Companies Profiled in the Global Market for Pharmaceuticals: * GlaxoSmithKline plc. (London, U.K) * F. Hoffmann-La Roche Ltd. (Basel, Switzerland) * Novartis AG (Basel, Switzerland) * Johnson & Johnson Services Inc. (New Jersey, U.S.) * Merck & Co., Inc. (New Jersey, U.S.) * Pfizer (New York, U.S.) * AstraZeneca (Cambridge, U.K.) * Sanofi (Paris, France) * Novo Nordisk A/S (Copenhagen, Denmark) * Other Players Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/impact-of-covid-19-on-pharmaceuticals-market-102685 Table of Contents: * Introduction * Market Scope * Market Segmentation * Market Methodology * Definitions and Assumptions * Executive Summary * Market Dynamics * Market Drivers * Market Restraints * Market Opportunities * Key Insights * Clinical Trials in Pharmaceuticals Market – Number of Trials, Size of the Industry, Number of Participants, Number of Sites, R&D Spending of Major Companies, Economic Impact of Clinical Trials * Success Rate of Drugs – Average Time and Price to Get a Drug on the Market, Proportion of Drugs that are Successful and Reach Blockbuster Status * Risk & Opportunities in Development of New Drugs – Qualitative Insights * Valuation of Pharmaceutical Companies – What Drives Valuation, Valuation of Major Companies, Impact of COVID-19 * Number of Customers – Details on Number of Healthcare Facilities, Pharmacies, Number of Patients, Number of Physicians & Nurses, etc. for Major Countries, 2019 * Impact of COVID-19 on the Pharmaceuticals Market * Global Pharmaceuticals Market Analysis, Insights and Forecast, 2016-2027 * Key Findings / Summary * Market Analysis, Insights and Forecast – By Type * Drugs * Prescription Drugs * OTC Drugs * Vaccine * Market Analysis, Insights and Forecast – By Indication * Antiviral * Anti-infective * Anti-hypersensitive * Oncology * Respiratory Disorders * Cardiovascular Disorders * Neurology Disorders * Diabetes * Others * Market Analysis, Insights and Forecast – By Distribution Channel * Hospitals Pharmacies * Retail Pharmacies * Online Pharmacies * Market Analysis, Insights and Forecast – By Geography * North America * Europe * Asia Pacific * Latin America * Middle East & Africa TOC Continued….! Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/impact-of-covid-19-on-pharmaceuticals-market-102685 SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION: * Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies * Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc. * Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility * Number of procedures and average price of procedures * Replacement rate and pricing of capital equipment * Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities * Market & technological trends, new product developments, product pipeline. 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We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges. Contact Us:Fortune Business Insights™ Pvt. 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OTTAWA – The parliamentary budget officer says the federal government likely failed to keep its deficit below its promised $40 billion cap in the last fiscal year.
However the PBO also projects in its latest economic and fiscal outlook today that weak economic growth this year will begin to rebound in 2025.
The budget watchdog estimates in its report that the federal government posted a $46.8 billion deficit for the 2023-24 fiscal year.
Finance Minister Chrystia Freeland pledged a year ago to keep the deficit capped at $40 billion and in her spring budget said the deficit for 2023-24 stayed in line with that promise.
The final tally of the last year’s deficit will be confirmed when the government publishes its annual public accounts report this fall.
The PBO says economic growth will remain tepid this year but will rebound in 2025 as the Bank of Canada’s interest rate cuts stimulate spending and business investment.
This report by The Canadian Press was first published Oct. 17, 2024.
OTTAWA – Statistics Canada says the level of food insecurity increased in 2022 as inflation hit peak levels.
In a report using data from the Canadian community health survey, the agency says 15.6 per cent of households experienced some level of food insecurity in 2022 after being relatively stable from 2017 to 2021.
The reading was up from 9.6 per cent in 2017 and 11.6 per cent in 2018.
Statistics Canada says the prevalence of household food insecurity was slightly lower and stable during the pandemic years as it fell to 8.5 per cent in the fall of 2020 and 9.1 per cent in 2021.
In addition to an increase in the prevalence of food insecurity in 2022, the agency says there was an increase in the severity as more households reported moderate or severe food insecurity.
It also noted an increase in the number of Canadians living in moderately or severely food insecure households was also seen in the Canadian income survey data collected in the first half of 2023.
This report by The Canadian Press was first published Oct 16, 2024.
OTTAWA – Statistics Canada says manufacturing sales in August fell to their lowest level since January 2022 as sales in the primary metal and petroleum and coal product subsectors fell.
The agency says manufacturing sales fell 1.3 per cent to $69.4 billion in August, after rising 1.1 per cent in July.
The drop came as sales in the primary metal subsector dropped 6.4 per cent to $5.3 billion in August, on lower prices and lower volumes.
Sales in the petroleum and coal product subsector fell 3.7 per cent to $7.8 billion in August on lower prices.
Meanwhile, sales of aerospace products and parts rose 7.3 per cent to $2.7 billion in August and wood product sales increased 3.8 per cent to $3.1 billion.
Overall manufacturing sales in constant dollars fell 0.8 per cent in August.
This report by The Canadian Press was first published Oct. 16, 2024.
