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The global pharmaceutical market research has been done by many companies and almost all of the market reports indicate a significant growth of of pharma market in 2010. The forecasting indicates pharmaceutical market growth of about 4 - 6% in 2010.
Pharmaceutical Industry Trends- Global Scenario
If present industry overview is taken into consideration then the global pharmaceutical market in 2010 is projected to grow 4 - 6% exceeding $825 billion. The global pharmaceutical market sales is expected to grow at a 4 - 7% compound annual growthrate (CAGR) through 2013. This industry growth is driven by stronger near-term growth in the US market and is based on the global macroeconomy, the changing combination of innovative and mature products apart from the rising influence of healthcare access and funding on market demand. Global pharmaceutical market value is expected to expand to $975+ billion by 2013. Different regions of the world will influence the pharmaceutical industry trends in different ways.
Asia Pacific Pharmaceutical Market
The pharma market world over will experience significant shifts. Asia-Pacific region will emerge as the fastest growing pharmaceutical market over the recent past. The reason for this positive shift can be attributed to the low costs and favorable regulatory environment. This region has experienced important developments regarding contract manufacturing, especially in generics and APIs. Increased R&D activities in the region has helped Asia-Pacific pharmaceutical industry to achieve an estimated market size of around US$ 187 Billion in 2009. Here, the pharmaceutical industry is expected to grow at a CAGR of around 12.6% during 2010-2012. It can, in fact, become the global API production hub in next few years. pharmaceutical sales are growing at a fast rate in India, China, Malaysia, South Korea and Indonesia due to the rising disposable income, several health insurance schemes (that ensures the sales of branded drugs), and intense competition among top pharmaceutical companies in the region (that has boosted the availability of low cost drugs). China¶s pharmaceutical market will continue to grow at a 20+ % annually, and will contribute 21% of overall global growth through 2013. India - 3rd Largest Producer of Pharmaceuticals Across the World- is already a US$ 8.2 Billion pharmaceutical market. The Indianpharmaceutical industry is further expected to grow by 10% in the year 2010.
Middle East Pharmaceutical Market
The Middle East combined with the African Pharmaceutical market is projected to grow at a CAGR of around 11% during 2010-2012. The development of infrastructure and rapidly changing regulations in this region are being seen as the cause of its growth. Also there is a high prevalence of diseases and huge population base that increases the overall pharmaceutical sales in this part of the world. Presently South Africa, Saudi Arabia and Israel dominate the region's pharmaceutical industry due to their better infrastructure and regulatory environment. However, The Middle East pharma market depends on importedpharmaceutical drugs and therapeutics. The governments of countries in this region are taking measures to raise their domestic production through heavy investments in the pharmaceutical industry. How far they are successful in the attempt of becoming considerable pharma production center remains to be seen.
Pharmaceutical Drugs Trends
Anti-Diabetic Drugs and those for cardiovascular diseases are expected to see the fastest growth in 2011. Cardiovascular patients will increase to 251 million in 2010, with the greatest rate of growth forecast for the US market. This is due to the changes in demographics and lifestyle that will boost the cardiovascular sales. However, the growth rates will be limited by continued patent expiries for major products and due to the lack of of novel therapies. The anti-hypertensives drugs will dominate the global cardiovascular market with a market share of nearly 50%.