Published on 28 Oct 2022 on Insider Monkey via Yahoo Finance
In this article, we discuss 10 best pharma dividend stocks to buy. If you want to see more stocks in this selection, check out 5 Best Pharma Dividend Stocks To Buy.
As per a Bloomberg report dated September 12, the global bio-pharma market was valued at $274.10 billion in 2020 and is forecasted to reach $703.28 billion by 2027 with a CAGR of 12.5% over the forecast period. The factors which will contribute to the growth of the pharma sector include the heightening prevalence of chronic diseases, increasing investment in research and development, and the growing pharmaceutical innovations. The global bio-pharma market will witness continuous growth on the back of higher need for vaccines with new diseases being discovered all over the world.
The outlook for the pharma industry remains positive for 2023. The industry will potentially exceed $1 trillion by next year, given that multiple last-stage clinical trials are set to be approved and hundreds of new products will be patented in 2023 and beyond. Some key trends which will shape the pharmaceutical industry in 2023 include the use of artificial intelligence, the acceptance of cannabidiol (CBD) for medical purposes, precision medicine, the use of blockchain technology in the pharmaceutical industry, smaller manufacturing facilities, digitization, state-mandated discounts and rebates, and an increased focus on research and development. Nearly 38% of market experts anticipate big data to have the highest impact on the pharmaceutical industry.
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