IEKView: Global Pharmaceutical Market and Export Competitiveness of Taiwan’s New Drug Industry
2026/01/28
The global pharmaceutical market is expected to maintain steady growth over the next five years, driven primarily by demand for innovative therapeutics and specific therapeutic areas. According to analysis by IQVIA, global pharmaceutical spending is projected to reach around US$2.4 trillion by 2029, with a compound annual growth rate (CAGR) of approximately 5.9% from 2024 to 2029. Oncology and obesity are the two therapeutic areas expected to emerge as the main growth engines.
Spending on oncology drugs is projected to increase from US$252 billion in 2024 to US$441 billion in 2029, representing a CAGR of approximately 11.8%. In the obesity segment, the market for GIP/GLP-1 drugs indicated for obesity is expected to expand from US$24 billion in 2024 to US$76 billion in 2029, with an estimated CAGR of 25.9%, making it the most significant “blue-ocean” market emerging in the global pharmaceutical industry.
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