10 New Countries Join 'Pharmerging Markets'
Seventeen high-growth pharmaceutical markets should now be ranked as 'pharmerging,' according to a new report by IMS Health. This is a leap from the seven countries that currently populate the category, and reflects "an unprecedented shift of industry growth to the world's emerging economies."
Dividing the 17 countries into three 'tiers,' the IMS study, Pharmerging Shake-Up: New Imperatives in a Redefined World, predicts that together they will expand by US$90 billion during 2009-13 and contribute 48 percent of annual market growth in 2013. Tier 1 is represented solely by China, which is poised to become the world's third-largest pharmaceutical market next year. Tier 2 comprises Brazil, Russia and India, which are each expected to add $5-15 billion in annual pharmaceutical sales by 2013. An additional 13 countries, expected to contribute $1-5 billion each in annual sales growth by 2013, constitute Tier 3. They are Venezuela, Poland, Argentina, Turkey, Mexico, Vietnam, South Africa, Thailand, Indonesia, Romania, Egypt, Pakistan and the Ukraine.
David Campbell, senior principal, Pharmerging Markets, IMS, commented: "The key essentials are in place for the industry to drive new opportunities within each tier of the pharmerging markets. Our experience points to the clear advantages that exist for the early movers. Pharmaceutical manufacturers that lead in building out organizational competencies, tailoring portfolios and adapting business models to these new markets will reap the benefits of differentiation and entrenched presence compared to those that wait."
To access study, go to http://www.imshealth.com/pharmergingreport2010.
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