GIA announces the release of a comprehensive global report on Prescription Drugs market. The global prescription drugs market is witnessing a significant deceleration in growth. Key factors slowing down growth in the global prescription drugs market include economic downturn, increasing number of drugs going off patent, increasing proliferation of generics, falling drug costs, and fewer new drug approvals. On the positive side, the market is experiencing increased demand for biologics, biopharmaceuticals, and pharmacogenomics, which are spearheading growth in the industry.
San Jose, CA (PRWEB) June 30, 2009 -- Global Prescription Drugs market is projected to cross US$897 billion by 2015. The pharmaceutical industry is also witnessing the effects of the global economic downturn. Various governments worldwide are embarking on cost containment measures, resulting in increased pricing pressures. However, compared to any other industry, the pharmaceutical industry is relatively shielded from economic cycles, as consumer spending on drugs is out of compulsion rather than discretionary spending as in most other industries. As such, sales of pharmaceuticals are expected to slowdown in 2009 and 2010, with declines or flat growth expected in mature markets such as the US, Japan, and Western Europe. The effects of the global economic downturn are expected to vary in different markets owing to the differences in respective market characteristics.
The global prescription drugs market is currently witnessing, and would further witness, a shift in terms of market growth from matured markets towards emerging markets. Patent expiries of major drugs, and subsequent entry of generics that are priced lower, increasing pressure to contain costs, along with increased healthcare legislation and safety scrutiny are slowing down growth in major markets. On the other hand, improved access to innovative and generic medicines, as a result of growth and geographical expansion in primary care, and growing popularity of private health insurance is driving growth in emerging markets such as Brazil, Russia, India, China, South Korea, Mexico and Turkey.
The United States represents the largest market for prescription drugs worldwide. Asia-Pacific region is expected to offer the highest growth potential for prescription drugs over the period 2006-2015. Oncologics/Cancer Drugs market is the largest and the fastest growing prescription drug therapeutic class. Respiratory Agents market represents the second largest therapeutic class in 2009, followed closely by Lipid Regulators market. However, owing to a spate of patent expiries, including that of Lipitor - the largest selling drug, lipid regulators are expected to witness a decline in revenues, and share of the global prescription drugs market.
These and other market data and trends are presented in "Prescription Drugs: A Global Strategic Business Report" announced by Global Industry Analysts, Inc. This GIA report discusses the prevailing trends, issues, demand forecasts, and activities that affect the industry. Detailed discussions on leading drugs by therapeutic class, patent expiries of major drugs, review of pipeline drugs, and M&A activity in the industry give a holistic view of the global and regional prescription drugs markets. The global prescription drugs market is analyzed by revenues in US$ Billion. The global market is analyzed further by the following therapeutic classes/ categories - Oncologics/ Cancer Drugs, Lipid Regulators, Respiratory Agents, Proton Pump Inhibitors, Antidiabetics, Antipsychotics, Antidepressants, Angiotensin II Antagonists, Anti-Epileptics, Autoimmune Agents, and Others. Major regional markets analyzed in the report include USA, Canada, Japan, Europe, Asia-Pacific, and Rest of World. Analytics for the period 2006-2015 provide a comprehensive understanding of the market. Additionally, historic review is provided for the period 2001 to 2005.
Global players profiled in the report include Pfizer, Glaxosmithkline, Novartis, Sanofi-Aventis, Astrazeneca, Roche, Johnson & Johnson, Merck & Co., Abbott, Eli Lilly, Amgen, Wyeth, Teva, Bayer, Takeda, and others. The study enumerates recent developments, mergers, acquisitions, and other strategic industry activities, and is an easy guide to What, Why, When, How, Where, and Who of the industry.
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Prescription_Drugs_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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