Pharma industry future

Healthcare research and data provider IMS Health released its annual global forecast for the pharmaceutical and therapy markets on November 1. The report’s highlights include:

• the global pharmaceutical market is expected to grow at a five to six per cent pace next year, compared with six to seven per cent in 2007
• the seven largest markets (US, Japan and Europe) will contribute just half of overall pharmaceutical market growth, while seven emerging markets (China, Brazil, Mexico, South Korea, India, Turkey and Russia) will contribute nearly 25 per cent of growth worldwide and are expected to grow 12-13 per cent (vs four to five per cent for majority of largest markets)
• there will be a decline for the first time in the size of the $370-380 billion audited market for primary care-driven drugs as a result of patent protection expirations

Other market dynamics identified to come into play for 2008 included:

• Patient use of innovative specialty products will expand, especially in the area of oncology
• The use of evidence to support the value of medicines will increase (value-for-money and economic analyses)
• Safety issues will increase the level of uncertainty
• Intellectual property rights will continue to be challenged on multiple fronts

Read the full press release: “IMS Health Predicts 5 to 6 Per cent Growth for Global Pharmaceutical Market in 2008, According to Annual Forecast”

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