US Pharmaceutical Industry Statistics – By Total Revenue, Region, Value, Job Posting, Total Numbers
Page Contents
- Introduction
- Editor’s Choice
- What is the pharmaceutical industry?
- Types of Pharmaceutical products
- Types of pharmaceutical companies
- Top drugs and medicine exporting companies in the United States of America
- General US Pharmaceutical Industry Statistics
- US Pharmaceutical Industry Statistics by job posting
- US Pharmaceutical Industry Statistics by value
- US Pharmaceutical Industry Statistics by total revenue
- US Pharmaceutical Industry Statistics by total numbers
- US Pharmaceutical Industry Statistics comparison by total exports
- US Pharmaceutical Industry Statistics by region
- Augmented Intelligence in Pharmaceutical industries
- Conclusion
Introduction
US Pharmaceutical Industry Statistics: The major source of America’s economy depends on the pharmaceutical industry as large companies have their headquarters spread all over the country. As of December 2021, the United States of America exported around $47,810,590.631 valued medical and pharmaceutical products. Adding to this, the US is the biggest market for pharmaceutical industries. Considering the American market, innovation is a vital player in overall sectors in the country, therefore the country also ranks in the list of the highest number of exports in the pharmaceutical industry.
In this US pharmaceutical industry statistics, the written content is restricted only to the United States of America, with interesting insight and graphics.
Editor’s Choice
- The US pharmaceutical industry statistic says that the market share of the US in the global pharma industry will be 43.72% in the year 2023.
- Most of the pharmacists live in California.
- The pharma industry in the USA spends around $60 billion every year on drug research and development.
- In the year 2021, global pharmaceutical sale was $1,1,86 billion, in which the United States of America recorded the highest sales resulting in $555 billion.
- As of 2021, around 4.69 billion prescriptions were provided to Americans.
- As of 2021, Humira was the top-selling medicine in the US market which generated $17.3 billion in revenue.
- In the United States of America, on average FDA approves 38 drugs every year.
- 5 out of the top 10 pharmaceutical companies’ headquarters are in the United States of America.
- The average salary for an employee in pharma and medicine manufacturing is around $111,176 per year.
- By the year 2025, it is projected that the United States of America will spend $605, to 635 billion on medicine.
What is the pharmaceutical industry?
The pharmaceutical industry discovers, evolves, manufactures, and markets pharmaceutical drugs for the use of patients to cure or vaccinate them. The pharmaceutical industry includes all the companies around the globe which perform the above-mentioned activities. Pharmaceutical industries are the most vital industries around the world to cure diseases and various conditions.
Types of Pharmaceutical products
1. Parenteral formulations
2. Novel drug formulations
3. Oncological formulations
4. Oral drugs
5. Topical medicines
6. Modified release formulations.
Following are the subcategories of the above types
- Nervous system: antihistamines, anesthetics, antidepressants, hypnotics, psychedelics, barbiturates, antihistamines, and antiepileptics
- Immune system: Anti-allergy, anti-fungal, antibiotics, anti-inflammatory.
- Endocrine system: Androgens, estrogens, thyroid hormones, corticosteroids, and gonadotropin
- Digestive system: antispasmodics, laxatives, antacids and antiflatulents.
- Cardiovascular system: Anticoagulants, vasodilators, diuretics, beta blockers, vasoconstrictors, and hemostasis.
Types of pharmaceutical companies
- AI Manufactures: These types of companies manufacture bulk compounds, biomolecules, serums, vaccines, and other AI-related pharmaceutical products.
- Research and development: These companies are small in size but focus mainly on large-scale activities such as research and development (R & D) by helping big pharma companies. Moreover, these companies also help in observation in clinical trials.
- Generic: These type of companies manufactures at the large level the less costly parent-expired medicines in the market.
- Mainline: Mainline companies focus on selling a wide range of drugs around the world. They have different departments working under them such as manufacturing and R and D.
Top drugs and medicine exporting companies in the United States of America
1. AbbVie
2. Abbott Laboratories
3. Allergan
4. AmerisourceBergen
5. AstraZeneca
6. Bristol-Myers Squibb
7. Cardinal Health
8. Eli Lilly and Co
9. McKesson
10. Merck and Co
11. Mylan and
12. Pfizer
General US Pharmaceutical Industry Statistics
- In the United States of America, on average FDA approves 38 drugs every year.
- Only 12% of drugs are approved by FDA compared to the total number of submitted drugs for clinical testing.
- On average, each year, residents in the United States of America spend $442 on over-the-counter sales medications.
- As of 2021, around 4.69 billion prescriptions were provided to Americans.
- By the year 2025, it is projected that the United States of America will spend $605, to 635 billion on medicine.
- As of 2021, Humira was the top-selling medicine in the US market which generated $17.3 billion in revenue.
- The US pharmaceutical industry statistic says that the market share of the US in the global pharma industry will be 43.72% in the year 2023.
- The pharma industry in the United States of America is the largest in the world.
- 5 out of the top 10 pharmaceutical companies’ headquarters are in the United States of America.
- The pharma industry in the USA spends around $60 billion every year on drug research and development.
- Most of the pharmacists live in California.
- In the year 2021, the total money spent on medicines was $574 billion.
- In a similar period, AbbVie was the largest pharma company in the USA by sales which generated around $44 billion.
- In the year 2023, the US pharma industry is expected to value $685.45 billion as stated by US Pharmaceutical industry statistics.
- In the US the average spending on pharmaceuticals from personal income is around 3.67%.
- US pharmaceutical industry statistics say that the pharma companies in the US will grow their business at a CAGR of 3.5% in the year 2023.
- The expected growth of generic pharmaceutical manufacturing companies is at 0.8%.
- The average salary for an employee in pharma and medicine manufacturing is around $111,176 per year.
- The expected growth rate for generic pharmaceutical manufacturing is 2.3%.
US Pharmaceutical Industry Statistics by job posting
(Reference: Pharmaceutical Technology)
- In the month of May 2021, the job posting in the United States of America related to AI in the pharma industry was a mere 2.8%.
- In the coming months of 2021, the year saw drastic changes every month from 4.1% in June 2021 to 2.6% in December 2021.
- But January 2022, brought an increasing rate in AI-related job postings in the pharmaceutical field as the month recorded a number of 3.5% which later rose to 7.4% in the month of May 2022.
By the rate of hiring
(Reference: Pharmaceutical Technology)
- Comparing May 2021 to May 2022 data on AI-related hiring rates in pharmaceutical companies showed a slight increase in May 2022 by 39.3%.
- As of May 2021, the rate of companies hiring for AI roles was 39%.
- With slight ups and downs, the rate of hiring was recorded at 37.3% in June 2021, 38.8% in August, and in the month of September and October 2021, the rate remained stagnant at 35%.
- In the month of October 2021, the hiring rate increased to 38.9% which reached 43.7% in the month of January 2022.
US Pharmaceutical Industry Statistics by value
(Reference: atradiuscollections.com)
- According to US pharmaceutical industry statistics, in the year 2021, the value of pharma industries and healthcare was 11.9% to 5.7%.
- As of 2022, the value of healthcare reduced to 5.1% but yet highest than pharmaceutical as the recorded number was only 3.2%.
- The expected value with added output in the year 2023 for pharmaceuticals is 2.2% while for healthcare it is 1.2%.
US Pharmaceutical Industry Statistics by total revenue
(Reference: Statista)
- According to the US pharmaceutical industry statistics, companies based out of the United States of America have shown a billion-dollar revenue as of 2022.
- Pfizer recorded a total revenue of $101.1 billion in the year 2022, while Johnson generated a total revenue of $95.6 billion.
- With a minor difference, AbbVie and Merck and Co. generated total revenues of $574 .billion and $57.2 billion respectively.
- Similarly, as of 2022, Bristol-Myers Squibb, Eli Lilly, and Gilead Sciences generated around $47.1 billion, $29.1 billion, and $27.5 billion respectively.
- Other companies in the top global biotech and pharmaceutical by revenue as of 2022 were Amgen at $26.4 billion, Moderna at $23 billion, and Regeneron at $14.2 billion.
US Pharmaceutical Industry Statistics by total numbers
- As of 2023, there are 2,655 pharma companies in the US.
- Similarly, there are 368 generic pharmaceutical manufacturing companies in the US.
- As of 2023, the expected number of employees in pharma manufacturing according to US Pharmaceutical industry statistics is 48,457.
US Pharmaceutical Industry Statistics comparison by total exports
(Source: worldstopexports.com)
- As of 2021, Germany ranked number 1 for exporting total medicines of $64,666,587 all over the world.
- Whereas the top five countries in exporting are Switzerland, Belgium, the United States of America, and France with total respective exports of $50.296.242, $33.307.921, $30.455.431, and France's $27.374.139.
- Germany recorded an increase in the total exports of medicines by 60% as compared to last year, whereas it is only 4.5% in terms o Switzerland.
- Belgium increase its total exports by 70% while the United States of America showed an increase of 23.3%.
- On the other hand, France had a negative rate of exports by 3.9%.
- Other countries with the highest number of exports as of 2021 were – Italy:$26,064,195 (-4.4%), Ireland: $22,726,587 (-1.7%), Netherlands: $19,657,015 (-10%), the United Kingdom $19,225,605 (2.6%) and India: $17,526,830 (+3.3%).
US Pharmaceutical Industry Statistics by region
- In the year 2021, global pharmaceutical sale was $1,1,86 billion, in which the United States of America recorded the highest sales resulting in $555 billion.
- Compared to the USA, Europe recorded $228 billion in sales.
- While emerging markets and established rest of the world generated $285 and $118 in sales in the year 2021.
Augmented Intelligence in Pharmaceutical industries
Involving AI in pharmaceutical industries is an extremely positive step as it will help the companies smoothly perform the task and various duties efficiently. Here are some advantages of AI in the pharma industry.
- Cost-effective: Pharmaceutical companies can save a lot of costs occurring in the manufacturing, developing, and selling process, as automation, will increase efficiency.
- Optimized global supply of drugs: The global imports and exports of drugs will be automated by AI in terms of records and tracking, the quantities, demand, supply, etc.…
- Tracking and analyzing patients: Every human body is distinct and requires different medicines. Thus, AI can help to analyze the human tendency and therefore increase the effectiveness of drugs and reduce the possible side effects.
- Clinical test: Furthermore, using AI while doing the clinical test will improve the accuracy and can help to identify the patterns and understand the outcomes.
- Understanding drug safety: In order to understand whether a manufactured drug outside the country is safe to use, AI will help to know the safety measures for the manufactured products and reduce the risk of deaths from allergies.
Conclusion
Concluding the US pharmaceutical industry statistics, America’s major economy depends on this industry because of the significant employment and level of innovation in the medicines made in the country. By looking at the above statistics, the pharma industry in the United States of America plays a vital role in the manufacturing, producing, developing, and distribution of a wide range of drugs and medical supplies all over the world. On the other hand, the technological development involved in the process is growing the capacity of the industry. However, looking at the current pandemic problem, the United States of America is expected to grow the Pharmaceutical industry in the coming years.
Sources
FAQ.
The pharmaceutical industry in the United States of America has captured around 45% of the global market with 22% of global production as of 2022.
As of 2022, considering the market Cap, Johnson and Johnson is one of the best pharmaceutical industries in the United States of America.
Caffeine as in coffee and cold drinks is a widely used drug in America. On average, above 50% of adults in the USA consume 300 milligrams of caffeine in a day.
By conducting scientific research, I write about illness, health and healthcare. As a professional medical writer, my experience includes creating feature articles for newsletters and websites as well as research news stories for doctors and researchers. Reading has been an integral part of me since childhood - I'm fan of "Friends" and the "Harry Potter series". Before this career, I was employed by a French multinational company. However, my passion for reading led me to pursue writing professionally; my first Amazon-published short story entitled "The envelope that changed our lives" has recently been released. In my free moments, I enjoy long bike rides around town.
