The pharmaceutical market worldwide, after experiencing a slump during the past 2 years, is now in its recovery period, which will be followed by its growth. Decline in global pharma market was largely due to the economic slowdown, and further aggravated by patent expiry of key blockbusters together with saturation in key pharma markets, such as the US and Western Europe. Meanwhile, pharma markets in some developing regions, like Asia and Latin America have been continuously witnessing robust growth rate for the last few years on account of increasing prevalence of diseases, rising healthcare spending, and increasing affordability. Overall, these markets will enjoy good growth potential in coming few years.
According to our latest research “Global Pharmaceutical Market Forecast to 2012”, global pharma industry is projected to grow at a CAGR of around 6.5% during 2011-2013. The growth will be driven by low cost factor, increasing prevalence of diseases worldwide, and rising per capita income of consumers. Our research identifies that sales of generic drugs will emerge as the most prominent segment of the pharma market during the forecast period, indicating large opportunities for generics manufacturers to tap.
Our regional level analysis found that the pharma industry is growing at a rapid rate in emerging countries, such as India, China, Brazil, Russia, among others, while a slowdown in the growth has been encountered in the US and Western European countries. Besides, we have found that growing inorganically via means of mergers & acquisitions has emerged as the most viable way for the companies to expand/extend their reach at a faster rate and maintain their revenue. We anticipate this trend to continue in near future also.
“Global Pharmaceutical Market Forecast to 2012” provides a comprehensive analysis of every major pharmaceutical market worldwide. North America, Latin America, Europe, Asia-Pacific, and MENA have been selected as the most important regions to be discussed in this report. The report contains statistical and analytical information on each of these markets, covering their current market size, demand, and healthcare statistics. It also features analysis of future directions, supplemented with facts and figures.
