growth of pharmaceutical industry

The pharmaceutical industry has been growing rapidly in recent years. This can be attributed to a number of factors, including an aging population, increasing rates of chronic diseases, and advancements in medical technology. Additionally, the industry has benefited from increased government spending on healthcare and a growing global market for pharmaceutical products. As a result of these factors, the global pharmaceutical market is projected to continue growing in the coming years, with estimates forecasting a compound annual growth rate of around 5%.