Pharmaceutical Executive Europe - April 2008 - (Page 11) Pharmaceutical Executive Europe April 2008 DATA Emerging market growth not without peril Based on IMS forecasts, emerging markets will become an increasingly important driver of global pharmaceutical growth in future years. Annual pharmaceutical sales in emerging markets is expected to reach $400 billion by 2020, equivalent to current sales in the US and the five major European markets combined. “By 2020, emerging markets will contribute more than 50% of worldwide pharmaceutical market growth, up from just 13% of growth in 2001 and an expected 33% in 2011,” said Murray Aitken, IMS senior vice president, Healthcare Insight. “IMS forecasts growth of 12–13% per year in countries including China, India, Brazil, Russia, Mexico, South Korea and Turkey, while mature markets are expected to grow only at low single-digit rates.” Murray stated that several of the largest multinational pharmaceutical countries already are generating strong growth in emerging markets, but others have been less successful. “Emerging markets can be perilous for companies looking for quick and easy profit,” he said. “Many companies’ product portfolios and business models do not match the needs of the emerging markets environment, and domestic competition can be intense. Intellectual property rights also remain an issue, and the rate and pace of market evolution can take unexpected detours.” In order to be successful in emerging markets, pharmaceutical companies must align their interests with healthcare advancement and be prepared to adapt their business models to reflect local and regional political issues and economic disruptions. “Above all, pharma managers need to remain flexible and be willing to focus time and energy on building their capabilities in emerging markets,” Murray concluded. “That’s where the prospects are for future growth and prosperity.” Emerging markets contribute an increasing share of global growth and could exceed 50% by 2020. Emerging markets 13% Emerging markets 33% Emerging markets 55% Educational resources for all your promotional needs Oxford University Press provide the ideal solution to your promotional needs. We offer a range of specialist publishing services, from bulk purchases and branded publications to chapter reprints. There are over 2,000 titles to choose from, including the renowned Oxford Handbooks series, and a range of specialist medical Libraries focused around key therapy areas, including: • • • • • General Practice Oncology Neurology Cardiology Diabetes • • • • • Pain Management Psychiatry Anaesthesia Rheumatology Respiratory Medicine All Oxford Medical Library titles are fantastic value, priced at just £5.99, and are available with our full range of publishing services. To discuss how your company can benefit, please contact: Mark Whiting Corporate Medical Sales Tel: +44 (0) 1865 353498 Email: corporatesales.uk@oup.com ROW, 87% $48.1bn ROW, 67% $50–60bn ROW, 45% $70–90bn www.oup.com/uk/corporate Source: IMS Health, Market Prognosis International, Sep 2007; Market Insights estimates 1 http://www.oup.com/uk/corporate http://www.oup.com/uk/corporate
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