Healthy Skepticism Library item: 13793

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Publication type: news

Global Market for Pharmaceuticals Worth Over $1 Trillion by 2013
PharmaLive 2008 Jun 11
http://pharmalive.com/news/index.cfm?articleID=548154&categoryid=9&newsletter=1

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Full text:

WELLESLEY, Mass, June 11, 2008-According to a new technical market research report, Global Pharmaceutical Markets (PHM037B) from BCC Research ( www.bccresearch.com ), the global market for pharmaceuticals was worth $693.6 billion in 2007. This is expected to increase to $737.6 billion in 2008 and reach over $1.0 trillion in 2013, a compound annual growth rate (CAGR) of 6.9%.

The market is broken down into applications of branded prescription drugs, generic prescription drugs and over-the-counter (OTC) products. Of these, branded prescription drugs have the largest share of the market. Worth an estimated $525.1 billion in 2007, this segment is expected to grow to a value of $553.2 billion in 2008 and $741.5 billion by the end of 2013, for a CAGR of 6.0%.

The second largest segment, generic prescription drugs, will experience the highest growth rate over the study period. Worth $78.5 billion in 2007 and an estimated $88.7 billion in 2008, it will reach $151.4 billion by the end of 2013, for a CAGR of 11.3%.

The OTC segment was worth over $90.0 billion in 2007. It should increase to $95.7 billion in 2008 and reach $135.1 billion in 2013, for a CAGR of 7.1%.

Though the worldwide pharmaceutical industry remains one of the most profitable and stable industries, several variables are influencing fundamental changes in its structure including increasing examples of government-imposed price reductions in pharmaceutical prices, the increasing role of generic substitutes, and enhanced outsourcing, in-licensing, contract research and manufacturing activities.

Increased health awareness amongst patients and governments, changing world demographics, declining R&D productivity, worldwide compliance of general agreements on tariffs and trade (GATT) and trade related intellectual property rights (TRIPS), along with the emergence of e-pharmaceuticals also are reshaping the dynamic pharmaceuticals industry.

WORLDWIDE MARKET PHARMACEUTICAL PRODUCTS, THROUGH 2013($ Billions)

Source: BCC Research

Target Date: June 2008 Electronic PDF: $4850

Data and analysis extracted from this press release must be accompanied by a statement identifying

BCC Research (www.bccresearch.com), 40 Washington Street, Suite 110, Wellesley, MA; Telephone: 866-285-7215, editor@bccresearch.com as the source and publisher.

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BCC Research is a leading publisher of market research reports and technical publications. Forthcoming report information can be found on our Web site at www.bccresearch.com