28 July 2022
The global pandemic was quite literally a shock for every individual and enterprise. And while it hit some stakeholders harder than others, it also assisted a few industries to bloom beyond expectation. For example, consumer preference for healthcare and medication evolved as the pandemic shifted the world to digitalised platforms and practices.
To make it BIG, extensive research and development and technological innovation contributed to many markets like the pharmaceutical sector. So, it's not surprising to see well-established names become even more influential.
Today, as demand for advanced health procedures, medications, and supplements skyrockets, the pharma sector will likely reach higher milestones as they continue boosting its profitability. Here are the four largest pharmaceutical companies that experienced record-breaking revenues and grew impressively fast.
Pfizer is among the biggest players in the international pharmaceutical and biotechnology sector. It was established in 1849 by Charles Pfizer and Charles F. Erhart. Headquartered in New York City, the multinational produces several vaccines and medications for cardiology, neurology, oncology, and immunology. It took the world by storm by manufacturing Cominarty, the reputable Covid’19 vaccination, and Paxlovid, Covid’19’s treatment. As of 2021, the company generated a chart-topping revenue of more than eighty-one billion USD, employing around seventy-nine thousand people worldwide.
Novartis (officially Novartis AG) is a merger between Swiss and American companies, its predecessors being Sandoz and Ciba-Geigy. The multinational was established in 1996 and had its headquarters in Cambridge, Massachusetts, United States, and Basel, Switzerland. Some of its noteworthy drugs include carbamazepine (Tegretol), clozapine (Clozaril), imatinib mesylate (Gleevec) and letrozole (Femara). Novartis serves clients worldwide, having production plants in several countries like Bulgaria, Austria, Denmark, Singapore, and France. Recent financial reports show the company generated yearly revenue of over fifty billion USD and employs approximately one hundred and ten thousand workers.
Fritz Hoffman-La Roche established Roche in 1896 and today manufactures medications like Anexate (flumazenil), Dalmane (flurazepam), Inhibace (cilazapril), Naprosyn (naproxen), and Rocaltrol (calcitriol). The company is also known as F. Hoffman-La Roche AG. The multinational company is a massive name in the global healthcare sector, headquartered in Basil, Switzerland. The company has two divisions, diagnostics and pharmaceuticals, and is the biggest cancer treatment provider. As of 2021, the multinational earned annual revenue of over sixty-two billion USD and employed around one hundred thousand human resources.
Johnson & Johnson is an America-based multinational founded in January 1886. It was established by James Wood Johnson, Robert Wood Johnson I, and Edward Mead Johnson, and today has its headquarters in New Jersey, United States. The company manufactures numerous medications, first aid supplies, baby products, and skincare items. It caters to clients worldwide and has around two hundred and fifty subsidiaries, including Ethicon, Janssen Vaccines, Janssen Pharmaceuticals, and Tibotec. As of 2021, it experienced a yearly revenue of around ninety billion USD and had more than one hundred and forty thousand employees.
AbbVie was founded in 2013 as Abbott Laboratories’ spin-off. Its headquarters is located in Illinois, United States, and specialises in manufacturing a versatile product line, including diagnostic equipment, medical devices, nutrition products, and pharmaceutical drugs. Some of its leading medications include Imbruvica (ibrutinib), Zinbryta (daclizumab), and Humira (adalimumab). In 2021, the biopharmaceutical firm generated around fifty-six billion USD worth of revenue and had fifty thousand employees.
The market for point of care diagnostics has been greatly boosted by the rising frequency of chronic diseases and the rising demand for speedy testing, and this trend is anticipated to continue during the predicted period.
One food item that has become a staple in households other than the Southeast and Pacific Asian countries is the fermented bean curd. It’s also called “tofu” by the locals and is a vegan-friendly protein that acts as a meat substitute.
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The report analyzes global market trends based on Compound Annual Growth Rates (CAGRs) with the data collected from 2020 stats and estimates for future years till 2024.
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