The pharmerging markets will drive growth in the world pharmaceutical market of 5-8% annually through the year 2014 according to IMS projections reported in Medical Marketing & Media.
IMS says this will happen despite the fact that drugs with sales of $142 B will come off patent during this time - removing an expected $80-100 B in sales from the market (about 2/3 coming out of US). Six of 10 of the world's top selling drugs will face generic competition in the next 2 years.
How do we compensate? Pharmerging markets save the day! IMS forecasts 14-17% growth in these markets representing an incremental $120 to $140 B in growth - during a period when Western markets piddle along at 3-6% growth. This year IMS predicts 7% growth worldwide.
Posted by Bruce Lehr April 20th 2010.
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