IMS Foresees Generics Market Surging Ahead
This article was originally published in PharmAsia News
Pharmaceutical research firm IMS expects the 2008 global pharmaceutical and health care industry to grow at 5 percent to 6 percent, a rate slightly less than the 6 percent to 7 percent of 2007. Drugs enjoying some $20 billion worth of sales will lose their patent this year, making space for generics to proliferate at 14 percent to 15 percent to reach over $70 billion, thanks to rising demand worldwide. Generics-producing countries such as China, Brazil, Mexico, South Korea, India, Turkey and Russia are set to expand their market at 12 percent to 13 percent to hit a total of $90 billlion in 2008. China, growing at 16 percent, ranks ninth on the global pharmaceutical market. IMS predicts that domestic demand will propel the country to sixth position in 2011. (Click here for more - Chinese Language)
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