BCC Research
Market Research Reports and Technical PublicationsArchive for June, 2008
Global Market For Pharmaceuticals Worth More Than $1 Trillion By 2013
According to a new technical market research report, GLOBAL PHARMACEUTICAL MARKETS (PHM037B) from BCC Research, the global market for pharmaceuticals was worth $693.6 billion in 2007. This is expected to increase to $737.6 billion in 2008 and reach over $1.0 trillion in 2013, a compound annual growth rate (CAGR) of 6.9%.
The market is broken down into applications of branded prescription drugs, generic prescription drugs and over-the-counter (OTC) products. Of these, branded prescription drugs have the largest share of the market. Worth an estimated $525.1 billion in 2007, this segment is expected to grow to a value of $553.2 billion in 2008 and $741.5 billion by the end of 2013, for a CAGR of 6.0%.
The second largest segment, generic prescription drugs, will experience the highest growth rate over the study period. Worth $78.5 billion in 2007 and an estimated $88.7 billion in 2008, it will reach $151.4 billion by the end of 2013, for a CAGR of 11.3%.
The OTC segment was worth over $90.0 billion in 2007. It should increase to $95.7 billion in 2008 and reach $135.1 billion in 2013, for a CAGR of 7.1%.
Though the worldwide pharmaceutical industry remains one of the most profitable and stable industries, several variables are influencing fundamental changes in its structure including increasing examples of government-imposed price reductions in pharmaceutical prices, the increasing role of generic substitutes, and enhanced outsourcing, in-licensing, contract research and manufacturing activities.
Increased health awareness amongst patients and governments, changing world demographics, declining R&D productivity, worldwide compliance of general agreements on tariffs and trade (GATT) and trade related intellectual property rights (TRIPS), along with the emergence of e-pharmaceuticals also are reshaping the dynamic pharmaceuticals industry.¹
¹BCC Research
Minimally Invasive Means Big Market Potential
Efforts to improve micromachining and materials show that the minimally invasive device manufacturing trend is growing.
Alternative Energy Demand Fueling Growth
There is tremendous opportunity in the solar cell market since most manufacturers use batch processing, and growth in solar panel demand is driving the implementation in-line manufacturing processes to lower the cost per watt.
¹Robert Maltbi, SeekingAlpha.com
BASF signs up to USP certification scheme
BASF’s drug excipient manufacturing site in Geismar, Louisiana in the USA has been accredited under the US Pharmacopoeia’s (USP) voluntary certification scheme. ¹
¹Gareth Macdonald, In-pharma Technologist.com
Robotics Give Doctors A Helping Hand
Advances in robotics technology are completely transforming today’s hospital operating rooms. With robot control and assistance, surgery for any kind of injury or ailment is faster, more accurate, and less invasive than ever before.¹
¹Roger Allan, Electronic Design
Solar Power’s New Style
Mike Gering, CEO of the start-up Global Solar, picks his way along his factory floor, tracing the convoluted path that his thin-film solar panels follow from birth to shipping truck. The raw materials the workers carry are ultra-thin sheets of flexible plastic, which are then coated with a series of chemicals–indium, gallium, diselenide–that allows the module to turn sunlight into electricity.¹
¹Bryan Walsh, Time Magazine.
BCC Research at SLA 2008
BCC Research will be attending the Special Library Association’s Annual Conference starting on June 15, 2008. BCC will be exhibiting at Booth #210 and we invite you to stop by.
Lost in the maze that is the business world? At the 2008 SLA Conference we invite you to meet with our employees who will help you navigate through the ins and outs of reporting and analysis. Plus, enter to win one of two Garmin nuvi 200 GPS systems to make sure you find your way through the non-information superhighway.
Don’t miss a great opportunity to make your business journey a success. Come visit us June 15-18 at Booth 210 in the main conference hall at the Seattle Sheraton and don’t forget to enter our giveaway for a chance to win one of two Garmin nuvi 200 GPS systems. Just another way BCC can help chart you on the right course.
Pondering Probiotics
What if, rather than conferring a benefit to the digestive tract, probiotics worked by slowing the pace of bacterial die-off in organs near the gut, or even in other areas of the gut itself?¹
¹Amy Proal; Bacteriality–Understanding Chronic Disease
Medical Manufacturing Suppliers Look to Clean Up
In the not-too-distant past, activists rallied against major corporations for their flagrant disregard for the environment in terms of waste output, harmful materials, and pollution-causing processes. But the tide has turned so that the companies and trades formerly viewed as the most heinous ecological offenders are now spearheading efforts for reducing industry’s carbon footprint.¹
¹Shana Leonard, Medical Product Manufacturing News
Industry Insider: A click closer to Rx information
More consumers are going online to look up information about medications, and they’re more likely to click on prescription drug ads they find there, a new survey about direct-to-consumer ads in the pharmaceutical industry found.¹
¹Jeff May and Robert Cohen/The Star-Ledger
