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This issue of Vital Signs, released on July 24, 2014, discusses emerging pharma trends in the Asia Pacific and how the region will act as an anchor to global pharma in coming years, especially in segments such as manufacturing, R&D and clinical trials.
The pharma growth pattern in the developed market is continuing to flatten; globally, generic war is heating up and pharma companies are bleeding to sustain their business. With every passing year, more and more bio-molecules are losing exclusivity and are subjected to generic competition. At the same time, improving global hygiene and better prognostic facilities are further adding to the misery of the pharma industry.
Industry players are forced to look out for an alternate and sustainable source of revenue, as well as maintain their profitability. In this darkening global pharma outlook, Asia Pacific’s strong economic fundamentals have given a ray of hope to players across the globe. The Asia Pacific region has emerged as a leader in pharmaceutical R&D, aided by the availability of a large patient population, lower costs and skilled manpower. Several emerging trends such as improved government spending on healthcare, customer health cognizance, increasing middle-class income and ever-growing incidence of chronic disease have increased demand for pharmaceutical products in the region. As per the Economist Intelligence Unit (EIU) estimate, the region’s pharmaceutical sales are expected to hit US$386 billion in 2016 with a strong compounded annual growth rate of more than 13%.
It is believed that the Asia Pacific region will act as an anchor to global pharma in coming years, especially in segments such as manufacturing, R&D and clinical trials. Asia Pacific is the fastest growing pharma market and is going through tremendous change due to international and local developments.
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