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June 7, 2009

New Pharmaceutical Market World Order to Rise by 2013

Global healthcare analysts IMS have forecast a new pharmaceutical market world order for 2013, which highlights the rapid rise of emerging countries. The firm has established a group of "pharmerging markets" – including Brazil, China, India, Mexico, Russia, South Korea and Turkey

By cms admin

Global healthcare analysts IMS have forecast a new pharmaceutical market world order for 2013, which highlights the rapid rise of emerging countries.

The firm has established a group of “pharmerging markets” – including Brazil, China, India, Mexico, Russia, South Korea and Turkey – areas it believes will experience strong growth over the next five years.

According to IMS, the Chinese market will rise from its current pharmaceutical market world ranking of fifth to third by 2013, while Brazil will climb two positions to eighth and Russia will leap four spots to sixteenth.

A huge 51% of the predicted global growth for the pharmaceutical sector in 2009 is coming from those seven “pharmerging” markets according to IMS Health senior principal for emerging markets David Campbell.

“This is a significant shift in terms of the dynamics of the global pharmaceutical market,” Campbell said.

“Even given the fact that the economic crisis is hitting the pharmaceutical sector globally, our expectations are that at least four of the seven markets will grow in double digits over the next five years.

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“There is no doubt that a lot of the reasons behind this drive is down to the government policies in those regions.”

Campbell said the Chinese government is an example of this, which has reiterated its commitment to investing US$120bn for healthcare going forward into 2013.

IMS has also identified that many companies have failed in the past to capitalise on the opportunity in the “pharmerging” markets, claiming that only a third of 420 new chemical entries (NCE) have reached the seven countries.

It does, however, say it believes there is currently a sense of urgency from major multinational corporations such as Sanofi-Aventis and GSK, which have been stepping up investment in those regions.

“These seven markets are very different and each has its own opportunities and challenges,” Campbell said.

“The key to success across the ‘pharmerging’ markets is local adaptability.”

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