Thursday, October 14, 2010

Global Pharmaceutical Sales Expected to Rise to $880bn in 2011

IMS Health predicts that global drug sales will increase 5 to 7 per cent next year, driven by development of innovative pharmaceuticals and growth of emerging markets. Secure Pharma Chain sees this as a major driver to continued proliferation of counterfeit medications.

In-PharmaTechnologist published a story yesterday on the IMS report regarding the rise in global drug sales for 2011.

The report shows that although there will “constraints” to the traditional developed markets because of the loss of major drugs to patent protections, significant growth in emerging markets globally will still mean continued growth.

Secure Pharma Chain anticipates that based on the information in this report, the growth in the emerging markets in China will result in still higher growth in substandard, fraudulent, adulterated and counterfeit medications in 2011.

This estimation is driven by industry experts like Terry Hisey from Deloitte and the World Health Organization, significantly raising their estimates in 2010 as to the annual global value of counterfeit medications to a range from $75b to $200b with a annual growth rate of 12to 15 per cent.

These factors and the state of the global economy in general mean that the global pharmaceutical market place will face many challenges going forward.

Secure Pharma Chain encourages all members of the pharmaceutical supply chain to protect their inventories from this growing threat by deploying technologies and solutions designed to authenticate and validate products within the supply channel.

Included in the In-PharmaTechnologist article:

• China is expected to enter 2011 as the third largest pharmaceutical market after the US and Japan, overtaking Germany with a predicted 25 per cent growth and $50bn in sales.

• By 2015, annual spending on prescription drugs in another 16 emerging markets is expected to increase by at least $1bn, which for the lowest spender in the group, Vietnam, will mark a doubling of this year’s expenditure.

• Innovative products in areas of stroke prevention, melanoma, multiple sclerosis, breast cancer and hepatitis C are expected to enter the market next year, representing 30-35 new chemical and biological entities with five predicted to reach blockbuster status.

• While 2011 is expected to bring global drugs sales of $880-890bn, “the underlying constraints to growth in developed markets are stronger than ever”, according to Murray Aitken, Senior Vice President at IMS, with “major drugs losing patent protection and facing generic competition for the first time”. The new potential blockbuster drugs are not expected to provide market growth “beyond what we’ve seen in the past 3 years which is at historically low levels”.

To read the entire In-PharmaTechnologist article, visit:

To learn more about pharmaceutical anti-counterfeiting solutions, visit:

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