Understanding the New World Order of Emerging Markets
The shape of the global market for pharmaceuticals is undergoing a rapid change. As recently as 2006, more than half of the market growth was in the US, according to IMS Health. But this year, they are predicting that the US market will decline by up to 2 percent, and 52 percent of growth will come in the seven so-called Pharmerging markets-Brazil, Russia, India, China, Mexico, Turkey and South Korea —where growth in 2006 was just 16 percent. At prices, these countries still only account for 12 percent of the global dollar value of the pharma industry, but that still represents a significant shift in market dynamics. [more...]
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