IMS forecasts global pharma market to grow 5%-8% annually through 2014; maintains expectations of 4%-6% increase in 2010

The global market for pharmaceuticals is expected to grow nearly $300 billion over the next five years, reaching $1,100 billion in 2014, according to the latest report from IMS Health. The 5%-8% compound annual growth rate during this period reflects the impact of leading products losing patent protection in developed markets, as well as strong overall growth in the world's emerging countries.

Global pharmaceutical sales growth of 4%-6% is expected this year, consistent with IMS's prior forecast. In 2009, the market grew 7.0% to $837 billion, compared with a 4.8% growth rate in 2008.

Pressure on drug spending likely to intensify