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Global Pharmaceuticals & Medicine Manufacturing Industry Market Research Report from IBISWorld has Been Updated
Date:12/6/2013

Los Angeles, CA (PRWEB) December 06, 2013

Over the five years to 2013, the Global Pharmaceuticals and Medicine Manufacturing industry enjoyed steady growth, despite a number of changes to the industry's landscape. Industry revenue grew as a result of increased access to more comprehensive healthcare in developing countries and demographic shifts necessitating more healthcare expenditure. “The increasing number of global middle-class individuals has also translated into dramatic increases in demand for pharmaceuticals,” according to IBISWorld Industry Analyst Anna Son. Industry growth has been restrained, however, by the potent combination of a historically high level of patent expirations on blockbuster drugs, accelerating competition from generics and contributing to a depleted product pipeline, with fewer new medicines being marketed. Growing price pressures from governments and health insurance organizations around the globe has also placed significant strain on the industry.

During the five years to 2013, IBISWorld estimates that industry revenue will grow at an average annual rate of 3.7% to total $1.1 trillion. Over this year, the industry will continue to be challenged by key patent expirations and continued pricing pressures, amid changing healthcare access and funding issues. At the same time, emerging markets such as China, India and Brazil, will continue driving sales of pharmaceuticals. “Development in these markets is significantly exceeding the growth rates of more mature markets, such as the United States and Western Europe, which have to contend with increased regulation and significant changes in healthcare policy, due to various austerity measures and healthcare reforms,” says Son. However, des
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