Global pharma market to surge by 2013
The report depicts an upward trend in the global pharma industry as the effects of the recent economic downturn have been fended off leading to worldwide recovery.
However, growth in the developed markets of the US and other Western European countries will be slow due to high levels of saturation. Hence, the global pharma market will continue its growth in tune with the emerging markets, including the Asia-Pacific, Latin America, and Central & Eastern European markets.
Despite economic and political issues being faced by the developing nations, the pharmaceutical market in these countries is growing due to rise in the demand of drugs. This untapped potential of countries, such as India, China, Brazil, Russia, Indonesia, and others is due to the rising prevalence of diseases.
Besides, the governments of these countries are introducing new policies and laws to burgeon the trade and distribution channels of the industry, and controlling the drug counterfeiting and IPR issues. Thus, the major pharma companies are formulating expansion plans in these regions.
To gain in on the opportunities held by the potential of the emerging markets, the companies are considering all possible forms of penetration, even inorganic growth. Additionally, the companies are willing to collaborate with the local companies for a better understanding of the market and its demands.
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