The pharmaceutical industry holds a significant position in the world, with global pharmaceutical market revenue reaching 1.48 trillion USD in 2022, with North America accounting for 52.3% of the market share. The industry is witnessing substantial growth, with a projected compound annual growth rate (CAGR) of 6.12% from 2023 to 2030. It is also characterized by emerging trends such as new modalities like cell and gene therapy and mRNA vaccine technology, which have seen rapid growth in the drug development pipeline. The pharmaceutical industry plays a crucial role in improving the quality of life for people worldwide and contributes to evidence-based policymaking in the global health arena (Statista, Grand View Research, IFPMA, McKinsey).
