Global pharma market set for 7pc CAGR to 2015
A report has forecast pharmaceutical market growth at a CAGR of seven per cent from 2011 to 2015.
The global pharmaceuticals market will expand at a compound annual growth rate (CAGR) of seven per cent between 2011 and 2015, a new report suggests.
Analysts at market research specialist TechNavio have forecasted this figure on the basis of increasing demand for drugs in emerging markets, as well as a "paradigm shift" towards biologic therapies.
"Biologic drugs provide sufficient growth opportunities for vendors in this market as there is increasing demand for biopharmaceuticals for the treatment of various diseases," a TechNavio analyst said.
"As a result, vendors in the market are investing heavily in R&D to develop novel biologic components."
TechNavio predicts that biologic drugs will account for a "massive" share of pharmaceutical sales by 2016.
The report also highlights the significant challenges presented by the patent expiration of top-selling drugs.
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