New prediction reflects incremental pressure from economic crisis.
IMS Health has predicted that the global pharma market will grow by just 2.5–3.5% in 2009, a revised prediction that is two percentage points down on the one made by the company six months ago. Speaking at the IMS Pharma Strategy 2009 press briefing in London last week, Murray Aitken, IMS's senior vice president, Healthcare Insight, pointed out that even the earlier predicted growth rate would have been the lowest growth rate ever for the global pharma market. Territory by territory, the US market is set to endure the worst growth rate of 2009, with IMS predicting -1 to -2% growth there. Europe fares a little better with 2Ð3% growth, but everywhere will be left standing by the growth rate predicted for the seven 'pharmerging markets' (China, India, Russia, Brazil, Mexico, South Korea, Turkey), which are collectively predicted to grow by a whopping 13–14%.