5%-6% growth forecast for global pharma market in 2007, by IMS

The worldwide pharmaceutical market can expect to see growth of around 5%-6% for 2007, compared with 6%-7% in 2006, as the market continues to rebalance in light of changing dynamics. According to IMS Health's 2007 Pharmaceutical Market Forecast, global pharmaceutical sales will expand to about $665.0-$685.0 billion next year.

"In 2007, the market still will be absorbing changes that have defined a new economic reality, one in which growth is shifting from mature markets to emerging ones; new product adoption is not keeping pace with the loss of patent protection by established products; specialty and niche products are playing a larger role; and regulators, payers and consumers are more carefully weighing the risk/benefit factors of pharmaceuticals," said Murray Aitken, senior vice president, corporate strategy at IMS.

The geographic balance of the pharmaceutical market continues to shift away from the USA toward the world's emerging markets countries, with a per capita Gross National Income of less than $20,000. These countries currently represent 17% of the global market, but will contribute 30% of growth next year. In emerging markets, the availability of health care is expanding, and the need for treatments associated with chronic diseases more typically found in developed countries is rapidly increasing, says IMS.