Following the declaration of Covid-19 pandemic by WHO in March 2020, for many industries it represented a halt in production, supply chain issues and a decrease in sales, for pharmaceuticals it was an opportunity to research and develop, sell new vaccines and curative Covid-related treatments worldwide. Over the ensuing two years in, the sector's global revenues grew by around +8.5% y/y and +15.5% y/y in 2020 and 2021 respectively.
While US and European pharmaceutical companies saw the highest revenue growth in 2021 (+18.8% y/y) and Asian companies saw the highest growth in 2022 (+20.6% y/y), we believe the industry's pandemic-driven revenue growth has already peaked in the same year. Our latest report dissects into the characteristics of the sector, strengths and weaknesses, sector risks and regional outlook and more.