Global medicines spending set to rebound, reaching nearly $1.2 trillion by 2016, says IMS
Following several years of slowing growth, the global market for medicines is poised to rebound from an expected low point of 3%-4% growth in 2012 to 5-7 percent in 2016, according to a new forecast issued by the IMS Institute for Healthcare Informatics.
The report, The Global Use of Medicines: Outlook through 2016, found that annual global spending on medicines will rise from $956 billion in 2011 to nearly $1.2 trillion in 2016, representing a compound annual growth rate of 3%-6%.
Pharmerging markets to nearly double
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