Pharma sector records 16.6% QoQ growth

Total market cap of top companies declined 11.4% QoQ.

Asia Pacific’s pharmaceutical sector registered a 16.6% QoQ growth, according to GlobalData’s Company Profiles Database’s analysis, due to growing demand from healthcare service providers.

Companies specifically dealing with pharmaceuticals had growth of 21% QoQ to $216.6b from $179b in the previous quarter, whereas biopharmaceutical companies reported 7.6% QoQ growth to $93.7b over the same period from $87b.

“The panic associated with the rapid increase in the number of patients with the COVID-19 symptoms led to a rise in the spending in healthcare solutions to fight the disease. Q2 M Cap is likely to be driven by how quickly China recovers from the pandemic, apart from how other countries rein in on the outbreak and emerge out from the ongoing lockdown measures,” said Anindya Biswas, company profiles analyst at GlobalData.

Meanwhile, the total market capitalization (MCap) of the top 50 companies in the Asia-Pacific (APAC) region witnessed a substantial decline of 11.4% QoQ to $5.8t in Q1 from $6.6t in the previous quarter