IMS LOOKS AT WORLDWIDE DRUG MARKET

Pharmacy Times, Volume 0, 0

The global pharmaceutical market in 2007 will fall slightlyfrom this year's level of growth. IMS Health predicts aworldwide market growth of 5% to 6% in the coming year,marginally lower than the 6% to 7% growth in 2006.

IMS Health reported that the US market will grow byonly 4% to 5% in 2007, a decrease from the 6% to 7%rise this year. A major factor contributing to the declineis that several brand name drugs will lose patent in2007, opening the door for generics. Market growth ismoving from traditional markets to emerging ones, andnew products are typically more specialized and havesmaller consumer bases, giving them a smaller impacton the overall market. IMS forecasts between 25 and 35new products in 2007, compared with the anticipated30 product launches in 2006.

In 2002, the United States made up 54% of the total marketgrowth worldwide. In the coming year, however, theUnited States is expected to contribute only 36%. IMS predictsthat China, India, Brazil, and Turkey will expand theirpharmaceutical business by >10%.