Press release
Global Pharmerging Market: BRIC Nations to Drive Market Growth during 2015-2023
The report points out that the declining rate of pharmaceutical sales growth across matured markets has been due to patent expirations and availability of low cost generics. The introduction of new molecular entities is expected to further shrink the pharmaceutical sales in matured markets. With research and development activities being time-consuming and costly, pharmaceutical companies are looking at the pharmerging market. This will propel the growth of the global pharmerging market. However, one of the biggest challenges faced by pharmaceutical companies is pricing pressure, which impacts the profit margin of the companies.
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The pharmerging market in China has emerged as the largest and the fastest growing pharmaceutical market. The growing healthcare spending by the Chinese government and implementation of the four year plan (2012 – 2015) for the prevention and control of chronic diseases has propelled the pharmerging market in China. The pharmerging market across India, Brazil and Russia is expected to be driven by rising government healthcare expenditure, growing geriatric population, and increasing prevalence of chronic diseases. In the coming years, the BRIC nations are expected to lead the overall market.
The report profiles some of the key players in the global pharmerging market such as Amgen Inc., Abbott Laboratories, Merck & Co Inc., Bristol-Myers Squibb Co, Novartis International AG, Boehringer Ingelheim Pharmaceuticals Corporation, AstraZeneca plc, Bayer HealthCare AG, Sanofi S.A., Novo Nordisk A/S., Pfizer Inc., GlaxoSmithKline plc, Johnson & Johnson, and Eli Lilly and Co.
The key players are focusing on mergers and acquisitions. For example, Abbott Laboratories acquired Piramal Healthcare in 2010, thereby emerging as a leader in the Indian pharmaceutical market. Eli Lilly entered into a strategic partnership with Chinese manufacturer Novast Laboratories Ltd. in 2011 to offer high-quality generic medicines to Chinese patients. Multinational pharmaceutical firms are stressing on developing their manufacturing and research facilities. However, these pharmaceutical firms need to lower their prices to compete in local markets.
Browse Full Research Report: http://bit.ly/1S5hsz2
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