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Article | March 17, 2010
Emerging economies represent 'pharmerging' pharma markets
IMS Health study reports that China and other emerging global economies reflect “an unprecedented shift of industry growth.”
“With a raft of pharmerging countries rapidly gaining market share, we’re seeing a new world order take hold within the pharmaceutical industry,” says Murray Aitken, senior vp, Healthcare Insight for IMS Health, a provider of market intelligence to pharmaceutical and healthcare industries.
A new IMS study, “Pharmerging Shake-UP: New Imperatives in a Redefined World” predicts that 17 countries “will in aggregate expand by US$90 billion during 2009-13.” It adds that a “changing mix of generic and innovative products have contributed to the ongoing market realignment.”
The number of countries rated as pharmerging—emerging markets showing high growth—has expanded from seven markets in 2006 to 17 in this study. Some of the study’s findings:
• “Tier 1: With a GDP of more than $8 trillion, China is poised to become the world’s third-largest pharmaceutical market next year.”
• “Tier 2: Brazil, Russia, and India are each expected to add $5 to $15 billion in annual pharmaceutical sales by 2013.”
• “Tier 3: Fast followers, an additional 13 countries are now expected to contribute $1 to $5 billion each in annual sales growth by 2013. They are Venezuela, Poland, Argentina, Turkey, Mexico, Vietnam, South Africa, Thailand, Indonesia, Romania, Egypt, Pakistan, and the Ukraine.
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