Report Highlights
- The global market for pharmaceuticals increased from $693.7 billion in 2007 to an estimated $737.6 billion by the end of 2008. It should reach over $1 trillion by 2013, a compound annual growth rate (CAGR) of 6.9%.
- The generic prescription drugs segment will experience the highest growth rate over the study period. Worth an estimated $88.7 billion in 2008, it will reach $151.4 billion by the end of 2013, a CAGR of 11.3%.
- The world’s best selling pharmaceutical product, Lipitor, had revenues of $12.7 billion in 2007.
INTRODUCTION
- Increasing government-imposed price reductions in prices
- An increasing role of generic substitutes (especially in Europe)
- The emergence of bio-pharmaceuticals and the bio-omics revolution
- Increasing buyer power of third-party payers, government buyers, and health maintenance organizations
- Increased health awareness among patients and government buyers
- Changing suppliers—enhanced outsourcing, in-licensing, contract research, and manufacturing activities.
- Business development professionals
- Venture capitalists
- Merger and acquisition executives
- Market and product management professionals
- Chief scientists and technical officers
- Equipment manufacturers
- Reagent suppliers
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Report Highlights
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The world pharmaceutical industry stood at $592 billion in 2003, or 24% of the healthcare sector. Rising at an average annual growth rate (AAGR) of 8.8%, this market is expected to reach $938 billion in 2008.
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Ethical pharmaceuticals account for 74% of the market. This sector is under increasing pressure from generics and biopharmaceuticals.
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The generic industry is expected to increase its penetration in the world market to 7% by 2008, reaching $64 billion.
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Ten geographical markets account for 70% of the ethical sector.
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Biopharmaceuticals are growing at double the rate of the ethical sector.
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