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Decline of pharma growth rates

Growth rates for the global pharmaceutical industry have been declining and are not expected to rebound until 2011, according to intelligence analyst, IMS
Growth rates for the global pharmaceutical industry have been declining and are not expected to rebound until 2011, according to intelligence analyst, IMS.

Figures revealed by the firm show global growth has dropped to 6.4 per cent since 1999 when rates were above 10 per cent. Revelation of these declining figures comes as the company publishes its online, in-depth report, I.360.

"Slowing growth trajectory - begun in 2003 and interrupted briefly by stronger US growth in 2006 - has returned," said IMS, which claims that the "future outlook for growth remains single digit and will vary greatly by region."

IMS says global growth will remain constant at between 5 and 8 per cent and is not predicted to change or rebound significantly until 2011. Brand patent expiries leading to loss of market exclusivity, in addition to increasing scrutiny of medicines and pricing, have contributed to the current state of the global pharma market.

While the larger markets struggle against the rise of generic drug sales, one of the factors IMS attributes to the slowing of growth rates, pharmerging (emerging pharmaceutical markets) could enjoy a steady rise in market expansion over the next three years. Markets in Latin America could experience growth rates of between 9 and 12 per cent and African, Asian and Australian markets could see expansion of between 10 and 13 per cent.

13th May 2008

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