2002 world pharma sales growth: slower but still healthy, says IMS

The world market for pharmaceutical products grew 8% in 2002, atconstant US dollar rates, to reach a total of $400.6 billion, according to IMS Health's new World Review.

The North American markets (USA and Canada) rose 12% last year to $203.6 billion, accounting for 51% of the world total, while sales in the European Union member states combined grew 8% to $90.6 billion, or 22% of the global market. The rest of Europe increased 9% to $11.3 billion, to take a 3% world market share. Japan advanced 11% to $46.9 billion (12%), while Asia, Africa and Australia combined showed a healthy advance of 11% to $31.6 billion (8%). Latin American sales declined 10% to $16.5 billion, due to the region's continuing economic problems, to account for 4% of total global sales last year.

"Despite economic challenges in the world's leading markets and a lower-than-normal number of new product introductions, the global pharmaceutical industry experienced solid growth in 2002," commented Graham Lewis, vice president, strategic global solutions at IMS. "Generic drug sales strengthened in North America and western Europe due to several patent expiries, while the Japan market continued to show nearly flat growth. Aging populations and the on-going demand for innovative therapies are expected to effectively sustain pharmaceutical growth in 2003 and beyond," he added.