11% Annual Growth Forecast For Southeast Asia Pharma Market

Over the next five years, with a compound annual growth rate of 11.1%, the pharmaceuticals market of Southeast Asia will outpace growth in the developed "triad" of North America (7.3%), Europe (5.6%) and Japan (2.8%), to account for 8% of the worldwide pharmaceutical market by the year 2000, according to a new report from IMS Pharma Strategy Group, Pharma Prognosis Far East 1996-2000.

Total drug sales in the eight-country region covered by the IMS report, comprising Hong Kong, Indonesia, Malaysia, Taiwan, South Korea, the Philippines, Singapore and Thailand, will increase from $11.8 billion in 1996 to reach $17.9 billion by 2000.

Four of the countries - Taiwan, South Korea, Singapore and Thailand - will grow even faster than the regional average (see table below) despite a slow-down compared with the growth seen from 1991 through 1995, the study notes.