Global pharmaceutical market to grow at 5%-7% in 2011, to reach a value of $800 billion, says IMS

The value of the global pharmaceutical market is expected to grow 5%-7% in 2011, to US$880 billion, compared with a 4%-5% pace this year, according to IMS Health. The forecast, included in the latest release of IMS Market Prognosis, is the leading annual industry indicator of market dynamics and therapy performance.

“While the overall market will appear to rebound somewhat in 2011, the underlying constraints to growth in developed markets are stronger than ever - including the impact of major patent expiries and payer mechanisms to limit drug spending,” said IMS senior vice president Murray Aitken. “We expect the pharmerging markets to continue their rapid expansion next year and remain strong sources of growth, and also see the potential for several significant innovative treatment options that are becoming available for patients in areas that include metastatic melanoma, multiple sclerosis and acute coronary syndrome,” he noted.

The IMS forecast covers all types of pharmaceuticals and takes into account macroeconomic conditions, changing levels of patient access, availability of drug treatment options, and pricing factors. Pricing is evaluated at the ex-manufacturer level, but excludes off-invoice discounts and rebates that are part of prevailing practices in certain major markets. Growth rates are expressed in constant dollars to avoid the impact of currency exchange rates.