Pharma Market Analysis and Business Opportunity

According to IMS Health Consulting, an international research company, in 2012 the size of the global pharmaceutical market reached $940 billion. In monetary terms it grew by 6%. In the future the sector is expected to grow at no less than 3% to 4% a year and if this happens the global pharmaceutical market is expected to reach $1.1 trillion by 2015 and will reach $1.2 trillion in 2016 and up to $1.5 trillion by 2020. The global demographic, epidemiological and economic changes are transforming the pharmaceutical market.

The pharmaceutical industry is directly impacted by the research conducted with prescription drugs, vaccines, and OTC drugs being manufactured based on findings from the study of life sciences. Clinical trials are conducted to ensure that products being developed are tested on how well they work on individuals affected by the diseases or conditions they are created to treat.

The world population is growing rapidly and is projected to rise from 7 billion in 2011 to 7.7 billion in 2020 and 9.6 billion in 2050, hence an increase in the demand for pharmaceuticals.The ageing process also affects the demand. By 2020 about 9.4% of the world population (719.4 million people) will be 65 or above, compared with 7.3% (477.4 million) in 2005 (UN, 2013). Clinical advances reinforce this trend. The improvements of the past few decades have already converted some previously terminal illnesses into chronic conditions, thus increasing long-term demand for pharmacotherapeutics to manage these diseases. Spending on medicines will reach nearly $1,100Bn in 2015, reflecting a slowing growth rate of 3-6% over the five year period compared to 6.2% annual growth over the past five years. Absolute global spending growth is expected to be $210-240Bn, compared to $251Bn since m2005.

  • USA
  • Europe
  • Middle East & Asia Pacific

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