Favourable regulatory laws and growing economies will drive a major shift in the global pharmaceutical market towards the Asia-Pacific region over the next few years, according to a report from World Street Fundamentals.

The report highlights the pulling power of emerging economies like India, China, Malaysia, South Korea and Indonesia as major drivers of change in the industry.

Growing economies are closing the gap between product cost and disposable income of consumers — a factor expected to drive long-term growth within the global marketplace.

Global pharmaceutical market sales are expected to grow at a compound annual growth rate of 4-7% through to 2013, largely driven by improved healthcare.