The Altapharma market comprises of pharmaceutical drugs that are administered through novel drug delivery systems or unique drug formulation to improve efficacy, safety and patient compliance. These advanced formulations help achieve sustained and controlled drug release leading to enhanced treatment outcomes.
Market key trends:
One of the key trends in the Altapharma market is the shift towards improved patient convenience through unique formulations like orally disintegrating tablets, transdermal patches and nasal sprays. The availability of these modern formulations without compromising on potency and stability has led to higher preference and increased uptake. This has positive implications on market revenues as patients find it easier to adhere to complex treatment regimens.
The global Altapharma market is segmented on the basis of indication, distribution channel and region. By indication, oncology dominates the market and accounts for around 30% share in 2023. High prevalence of various types of cancers such as lung cancer, breast cancer, colorectal cancer etc. and availability of large number of cancer drugs are major factors contributing to the dominating share of oncology segment.
The global Altapharma market Size is expected to witness high growth, exhibiting CAGR of 8.6% over the forecast period, 2023 – 2030, due to increasing prevalence of chronic diseases.
The US dominates the global Altapharma market with around 40% market share in 2023 owing to highest healthcare spending and availability of advanced treatment facilities in the country. Europe is the second largest market followed by Asia Pacific. Asia Pacific region is expected to witness fastest growth due to rising healthcare expenditure and increasing focus of international players on emerging markets in the region.
Key players operating in the Altapharma market are Pfizer, Roche, Johnson & Johnson , Novartis, Merck & Co, GlaxoSmithKline, Sanofi, AbbVie, Amgen, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Teva Pharmaceutical, Bayer , Novo Nordisk, Allergan, Gilead Sciences, Boehringer Ingelheim, Takeda Pharmaceutical, Biogen. The top 5 players namely Pfizer, Roche, Johnson & Johnson , Novartis, Merck & Co collectively accounts for over 35% of global revenue.