Spanish pharma market growth 8%
The Spanish drug market has registered annual growth of about 8% since 2004, according to figures from IMS Health. Sales of drugs in Spain in 2007 increased 8.8% to a value of some 13.2 billion euros ($20.49 billion). Some slowing of growth is forecast for this year. New drug development has been focused in the oncology and biotechnology areas.
The oncology drug market grew 15.7% in Spain in 2007 with sales of around 1.1 billion euros, while the strongest sector was that of cardiovascular drugs with sales of 2.07 billion euros. Pfizer led the field with a market share of 6.5% followed by Sanofi-Aventis at 6.2%.
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