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Global growth for pharma market

A leading financial analyst specialising in pharmaceutical sales data has revealed that the global prescription drugs market grew by 6.4 per cent in 2007.

A leading financial analyst specialising in pharmaceutical sales data has revealed that the global prescription drugs market grew by 6.4 per cent in 2007.

Market intelligence provider, IMS Health announced on April 16 that the global prescription market increased by $178m over a five-year period to an estimated total of $712m. But the US market, which accounts for 45.9 per cent of worldwide pharmaceutical sales (almost $304.5bn), recorded a downturn in its market growth rate.

IMS Health said: "The United States is still the largest single market at $286.5bn. However, it contributed only 2.5 per cent of the total growth to the global market in 2007 - the lowest-ever level of contribution."

France, Germany, the UK, Italy and Spain (the five major EU markets) experienced aggregate growth of 4.8 per cent, expanding to $140bn.

16th April 2008

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