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Emerging mkts hold key for pharma growth
Emerging mkts hold key for pharma growth. Emerging markets are predicted to account for a third of global pharmaceutical spend by the end of next year and seen as critical for the sustained growth of leading pharma companies, according to a report released by Cambridge Consultants.
Hyderabad: Emerging markets are predicted to account for a third of global pharmaceutical spend by the end of next year and seen as critical for the sustained growth of leading pharma companies, according to a report released by Cambridge Consultants.
The report, a summary of a workshop organised by Cambridge Consultants in Mumbai, says innovation and technology will be important differentiators as pharmaceutical organisations try to drive growth in developing countries.
The product design and development firm brought together senior personnel from both Indian and multinational pharma companies to debate whether emerging markets can be an opportunity to drive sustainable growth.
“Emerging markets are facing rapid growth of chronic ‘Western’ diseases like diabetes, hypertension, chronic respiratory problems, cancer, heart disease and neurological disorders,” said Ambuj Jain, General Manager-India, Cambridge Consultants. In India, the prevalence of diabetes and cancer is projected to rise by 25-40 per cent over the next 10 years, he added.
