Global pharmaceutical market remains in declining growth trend
The global pharmaceutical market continued to show declining growth through 2010. According to new data from advisory firm Decision Resources’ Pharmaview suite, global pharmaceutical sales grew year-over-year by a mere 3.2% to reach $669 billion, compared with 3.5% year-over-year growth in 2009 and 7.5% year-over-year growth in 2008. Over the next seven years, the global market is expected to record a compound annual growth rate (CAGR) of 2.2 percent, reaching $778 billion in 2017.
In the USA, sales continued to stagnate, with 0.7% year-on-year growth in 2010, increasing to $283 billion. The US market will continue to idle, with an expected compound annual growth rate (CAGR) of 1.7% between 2010 and 2017, reaching $318 billion in 2017.
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