Healthy Skepticism Library item: 13521
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Publication type: news
IMS Health Reports Global Prescription Sales Grew 6.4 Percent in 2007, to $712 Billion
PharmaLive 2008 Apr 15
http://pharmalive.com/news/index.cfm?articleID=531327&categoryid=9&newsletter=1
Notes:
See http://www.imshealth.com/ims/portal/front/indexC/0,2773,6599_83743725_0,00.html for accompanying charts
Full text:
IMS Health (NYSE:RX), the world’s leading provider of market intelligence to the pharmaceutical and healthcare industries, today announced that the 2007 global prescription market grew 6.4 percent over the prior year. This takes the estimated total global prescription market to $712 billion based on sales, an increase of $178 billion over the past five years.
The United States is still the largest single market at $286.5 billion. However, it contributed only 25.5 percent of the total growth to the global market in 2007 – the lowest-ever level of contribution.
Latin America markets continued their rapid expansion, with growth of 11.6 percent in 2007, while the Asian markets experienced double-digit growth due to the expansion of healthcare access in the region.
Across the five major European markets, growth in aggregate was 4.8 percent, largely reflecting the impact of health policy and funding initiatives.
For more information please visit http://www.imshealth.com/media
Fact sheet with regional detail and country-specific information is below:
IMS Health Reports Global Prescription Sales Grew
6.4 Percent in 2007, to $712 Billion
FACT SHEET
• The 2007 global pharmaceutical market (audited and unaudited) grew 6.4 percent in 2007 taking the estimated total global market to $712 billion, an increase of $178 billion over the past five years.
• North America, which accounts for 45.9 percent of global pharmaceutical sales, grew 4.2 percent to $304.5 billion, down from 8.3 percent the previous year. While the U.S. market remains the largest single market, its growth rate fell dramatically, resulting in the U.S. market’s contribution to global growth declining to its lowest point ever, at 25.5 percent.
• The Japanese pharmaceutical market grew 3.6 percent in 2007, higher than the compound annual growth rate (CAGR) of the prior five years, reflecting limited impact from the biennial price cuts which occurred April 1, 2006 and will reoccur on April 1, 2008. This growth took the total market to $65.2 billion for the full year.
• Across the five major European markets, France, Germany, the United Kingdom, Italy and Spain, aggregate growth was 4.8 percent; the total market expanded to $140 billion.
European markets – apart from the five major developed markets – are now $81.6 billion in size, and expanded by 10.9 percent in 2007. Among these markets Russia (20.2 percent) and Turkey (17.2 percent) reflect the largest growth.
• Asian markets (excluding Japan, including Australia and New Zealand) grew collectively by 13.3 percent and now represent 11 percent of the total global market. Robust economic growth and expansion of access to healthcare remains the primary driver of these markets. China, Korea and India grew by 25.7 percent, 10.7 percent, and 13.0 percent respectively in 2007.
• Latin American markets in total are $42.4 billion in size and continued their rapid expansion, growing 11.6 percent in 2007. Macroeconomic trends continue to expand these markets. Brazil, a $15.7 billion market grew by 9.7 percent, while Mexico grew at a 7.5 percent pace, reaching a total size of $11.1 billion.
