Global Marketing Considerations for the Pharmaceutical Industry

The global market for pharmaceuticals continues to grow, but is quickly changing.  The United States market share is expected to decrease.  It is anticipated to still remain the single highest drug market in the world.  The American pharmaceutical market is not the only one that will experience a shift.

According to an article in Forbes Magazine, “The global market for prescription drugs will grow from $950 billion now to $1.2 trillion in 2016, according to a new report released today. But Big Pharma may sit out much of the growth as patents on big-selling drugs expire and people fast-growing markets such as China, Russia, and Brazil buy generic drugs from local manufacturers.”

Growth

Experts agree that the patient desire for pharmaceuticals will continue to increase.  This will happen without regard to all of the struggling economies around the world.  There will be a desire in markets with publically funded healthcare to slow down how much is spent for drugs.  This will be offset by the growth in demand for them.  Growth in the pharmaceutical industry is expected to increase within the next few years.

New Drugs

The use of drug therapy treatments will increase.  This will be in response to developments of better drugs designed to meet healthcare needs.  The rate of new drug therapies for conditions such as diabetes, HIV, multiple sclerosis and more will be over nine percent.  This will be in reaction to more new drugs being available in the marketplace and patient access to them increased.

Generic Drugs

In the coming year there will be an increase in the number of drug patent expirations.  This will cause a significant shift toward the usage of generic drugs.  Drugs that have received billions of dollars in revenue will now have to handle competition from their generic counterpart.  Within the next few years drugs used to tread conditions such cholesterol, ulcers and more will be impacted.

Research

The drug industry is expected to expand research in the coming years.  It is estimated that dozens of new medications will enter the market.  The level of new drugs being introduced will exceed that of the previous several years.

If you would like to learn more about global marketing in the pharmaceutical industry, we can help. Register today for our upcoming 6th Digital Pharma Europe and gain a global perspective. For further information on the conference, be sure to review the brochure.

http://digitalblog.exlpharma.com/wp-content/plugins/sociofluid/images/digg_32.png http://digitalblog.exlpharma.com/wp-content/plugins/sociofluid/images/stumbleupon_32.png http://digitalblog.exlpharma.com/wp-content/plugins/sociofluid/images/delicious_32.png http://digitalblog.exlpharma.com/wp-content/plugins/sociofluid/images/myspace_32.png http://digitalblog.exlpharma.com/wp-content/plugins/sociofluid/images/facebook_32.png http://digitalblog.exlpharma.com/wp-content/plugins/sociofluid/images/twitter_32.png

Leave a Reply