The global pharmaceutical industry is on track to reach unprecedented heights in 2025, with Evaluate Pharma forecasting an $82 billion surge in pharmaceutical product sales, marking the largest growth since the COVID-19 pandemic. Total industry revenues are expected to surpass the $1 trillion milestone, driven by innovations across key therapeutic areas, groundbreaking drugs, and the strategic maneuvers of leading companies. Here is a comprehensive analysis of the top players, blockbuster therapies, and driving trends set to define the biopharma landscape in 2025.
Top-Selling Drugs in 2025
Merck & Co.’s Keytruda remains the world’s best-selling pharmaceutical product, projected to peak in sales in 2025. However, incretin therapies, particularly GLP-1 analogues, are rapidly reshaping the market. Novo Nordisk’s semaglutide (marketed as Ozempic for type 2 diabetes and Wegovy for obesity) and Eli Lilly’s tirzepatide (sold as Mounjaro and Zepbound) are poised to generate over $70 billion in combined sales. These therapies dominate both sales growth and speed of adoption, with Zepbound’s revenue forecasted to double to $11.3 billion in just its second year post-approval for obesity.
Enhertu, an antibody-drug conjugate by AstraZeneca and Daiichi Sankyo, is another standout in the fastest-growing category. Its impressive efficacy in breast and lung cancers highlights the therapeutic potential of next-generation targeted chemotherapy.
Biggest Drug Makers by Prescription Sales
Despite the meteoric rise of Eli Lilly and Novo Nordisk in incretin therapy, Roche is predicted to retain its position as the largest drug maker by prescription sales for the second consecutive year. Roche’s success is attributed to a diverse portfolio, including near-blockbusters like Vabysmo for eye disease. In contrast, Lilly is projected to climb from 11th to 4th place, while Novo Nordisk ascends from 10th to 6th, reflecting the transformative impact of their respective product lines.
However, not all companies share such momentum. Pfizer faces significant challenges, with its ranking expected to drop from 5th to 9th due to declining sales of its COVID-19 vaccine, Comirnaty, and criticism over its utilization of pandemic revenues. GSK, meanwhile, seeks redemption through its robust vaccines and HIV business, alongside anticipated approvals for critical new drugs.
Therapy Areas: Growth Drivers and Brakes
Cancer therapies remain a cornerstone of growth, with metabolic diseases (diabetes and obesity) emerging as dominant drivers when viewed collectively. AbbVie’s Skyrizi and Sanofi’s Dupixent continue to excel in dermatological and inflammatory conditions, with Skyrizi’s sales forecast exceeding $20 billion.
Conversely, the industry faces contraction in areas like arthritis and respiratory infections. AbbVie’s Humira is losing ground to biosimilars, while COVID-19-related revenues are dwindling as the pandemic’s influence wanes. Learning disorders also see declines, driven by the patent expiry of ADHD medication Vyvanse.
Regulatory Environment and Approvals
The FDA is projected to approve a record number of novel therapeutics in 2025, with 71 high-potential projects in the pipeline. This regulatory momentum reflects recovery from the pandemic’s disruptions, which curtailed market potential for drugs launched during 2020 and 2021.
However, regulatory uncertainties loom. The appointment of a new FDA commissioner under the Trump administration, coupled with the controversial nomination of vaccine skeptic Robert F. Kennedy Jr. to oversee the FDA, could signal turbulence. Additionally, the reauthorization of the Prescription Drug User Fee Act by 2027 will be a pivotal moment for the industry.
Future Outlook
As the pharmaceutical industry navigates this period of explosive growth and regulatory flux, the battle for market dominance will continue to intensify. Roche’s breadth of offerings solidifies its leadership, while Lilly and Novo Nordisk’s innovations in incretin therapy underline the transformative power of focused R&D. Meanwhile, evolving therapeutic trends and political shifts will shape the landscape for years to come.By 2025, the question isn’t just who will lead but how they will navigate the challenges and opportunities in this rapidly evolving industry.
Source: Evaluate Pharma report for 2025
