Global pharma market will see just 3%-6% growth over next five years, reaching $1,100 billion in 2015

Global spending for medicines will reach nearly $1,100 billion by 2015, reflecting a slowing compound annual growth rate of 3%-6% over the next five years, says pharma market research firm IMS Health. This compares with 6.2% annual growth over the past five years.

Lower levels of spending growth for medicines in the USA, the ongoing impact of patent expiries in developed markets, continuing strong demand in pharmerging markets, and policy-driven changes in several countries are among the key factors that will influence future growth, according to the IMS Institute for Healthcare’s new study, titled The Global Use of Medicines: Outlook Through 2015.

“The future level of spending on medicines has striking implications for healthcare systems and policy makers across the developed and emerging economies,” said Murray Aitken, executive director, IMS Institute for Healthcare Informatics. “Past patterns of spending offer few clues about the level of expected growth through 2015. There are unprecedented dynamics at play, which are driving rapid shifts in the mix of spending by patients and payers between branded products and generics, and across both developed and pharmerging markets,” he added.