IMS Health has forecast growth of between 5% and 7% for the global pharmaceutical market in 2011, equating to a total value of $880bn.
The IMS forecasts, signalling a rise from the 4%-5% growth in 2010, covers all pharmaceutical markets whilst taking into account macroeconomic conditions, patient access and availability of drug treatment options.
The report identified key market dynamics including divergent growth rates for developed markets, peak years of patent expiries, broad measures applied by public and private payers to reduce growth of drug budgets and therapy area growth driven by innovation cycles and unmet demand.
IMS senior vice-president Murray Aitken said, “We expect the pharmerging markets to continue their rapid expansion next year and remain strong sources of growth, and also see the potential for several significant innovative treatment options that are becoming available for patients in areas that include metastatic melanoma, multiple sclerosis and acute coronary syndrome.”
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