According to a new research report, the "Global Pharmaceutical Market Forecast to 2012," the global pharmaceutical industry can expect to pull in over a trillion dollars in revenues in the next four years.
The report expands and updates a 2006 study and looks at 34 pharmaceutical markets, including North America, Latin America, Europe, Asia-Pacific and Africa, said the Dublin-based Research and Markets. It also looks at key information for major pharma players including AstraZeneca, GlaxoSmithKline and Sanofi-Aventis.
Forecasts from the report indicate a compound annual growth rate of approximately 8 percent for the global pharma market, bringing it to about $1.043 trillion in 2012 with generic sector growth, a new emphasis on emerging markets, and an increased focus on biotech drugs helping to pave the way.
With fewer NDAs, several major patent expirations and the boom in generics on the horizon, the report projects that North America will experience slowed growth. But it remains the strongest market, comprising more than 40 percent of global sales last year.
Which market will enjoy a major pharma jump? The Asia-Pacific region will, due to significant economic growth in several countries and a hefty, untapped population--according to Market and Research.
- see the release for more