Editing Johnson & Johnson (section)

== Macroeconomic Analysis and Markets ==
The pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totalled 1.48 trillion U.S. dollars in 2022.
[[File:12345678.png|thumb|400x400px|Revenue of the worldwide pharmaceutical market from 2001 to 2022|none]]



==== Pharma industry by country ====
Several prominent pharmaceutical companies are based in the United States, which explains why the country boasts the world's largest national pharmaceutical market. China has emerged as a significant contender in the industry, experiencing robust annual growth rates in its burgeoning pharmaceutical market in recent years. Nevertheless, forecasts for pharmaceutical sales indicate that the well-established markets of North America and Europe will continue to be at the forefront in 2025.

==== How much do companies spend on R&D? ====
Above all other industries, the pharmaceutical sector places significant reliance on research and development, with firms allocating roughly 20 percent or more of their sales earnings towards R&D endeavours. This proportion can soar even higher for companies that center their operations on research and generate relatively modest sales figures. Uncovering novel drugs holds paramount importance for the sustained expansion of pharmaceutical enterprises, and the sales of new branded medications can yield substantial contributions to overall revenues. Conversely, the expiration of patent protections can lead to severe repercussions, as the presence of generic drugs introduces a formidable challenge for these companies.

==== All eyes on pharma and biotech ====
Shortly following the onset of the COVID-19 pandemic's global impact, it became evident that the absence of novel treatments, notably vaccines, would result in a perpetual cycle of lockdowns and crises. As a result, pharmaceutical companies garnered heightened public attention, facing mounting pressure to deliver swift outcomes.