;   Medical Translation Insight: Emerging markets continue to fuel pharma growth - ForeignExchange Translations

Interesting news from PMLiVE: According to an article, major pharma firms reported an increased growth rate in emerging economies during 2011 of 13.4% - nearly double that of the global average of 7.8%.

Rising incomes, expanding access to healthcare, and the subsidized nature of central planning governments are all seen as contributing this rapid growth across emerging markets. This, of course, stands in stark contrast to big pharma's decline in traditional markets.

In Europe, for instance, austerity measures put downward pressure on drug prices. Healthcare cuts and hospitals delaying the payment of bills have made Greece, Spain and Portugal increasingly unattractive for pharmaceutical companies.

The article quoted a recent IMS report. According to that report, developed markets will decline to 57% of total world spending on medicines by 2016 (down from 73% in 2006). PMLiVE goes on to say that:
In 2016 the US will remain the world's largest drug market, but China will have climbed into the number two position ahead of Japan. Brazil will come in at number four, followed by Germany, France and Italy, with India and Russia breaking into the top 10 at positions 8 and 9 respectively ahead of Canada.
Note that neither the UK nor Spain will feature in the top 10... While the developing world turns less friendly to drug trials, it sure is boom times for selling drugs!


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