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Healthcare: Emerging state, Romania included, will ensure 30% of world medicine sales in 2016
China, India, Brazil, Russia and 12 other emerging states, Romania included, will ensure 30% of world sales of medicine in 2016, on the rise from 20% last year, according to a report made by IMS – Institute for Healthcare Informatics in the US.
The rising expenses in 16 emerging pharmaceutical markets will feed the advance of world sales in the specialized market until 2016. On the other hand, expense cuts by Western European governments and the loss of patents by US companies will reduce the purchase power of the population in these areas.
World medicine expenses will reach about 1,200 billion dollars in four years, when emerging pharmaceutical markets will have a higher contribution.
In developed markets such as the US, Europe and Japan, expenses for medicines will drop by 57% because patents for a high number of medicines will expire , consumption for brand products will grow slowly and consumption will register the people’s reticence. Emerging markets will have a 30% contribution to world expenses for medicines in 2016 compared to 20% last year, the report shows.
“Sale increases in emerging markets are backed by the powerful economic advance. When millions of people get out of extreme poverty, they start affording medicines and basic services, said Michael Kleinrock, research manager at IMS Institute.
The report includes China, India, Brazil, Poland, Mexico, Romania, Turkey, Russia, South Africa, Thailand, Argentina, Indonesia, Egypt, Pakistan, Vietnam and Venezuela among emerging countries.
Buyers in emerging markets prefer brand products and generic medicine made by multinational companies, Kleinrock said.
Medicine producers headed by the American group Pfizer, count on emerging markets for development. Most medicine sales in emerging markets will be ensured by producers of generic products.