The Global Pharmaceutical Market Forecast Essays -- International Phar

MARKET OVERVIEW The global pharmaceutical market is a multibillion-dollar industry. The 10 largest medicine companies control over one-third of the market, several with gross revenue of more than $10B a year and profit margins of 30%. Six of these companies argon based in the U.S. and four are in Europe. It is predicted that North and southwestward America, Europe, and Japan will continue to dominate by accounting for 85% of the worlds pharmaceutical market. Companies currently spend one-third of each(prenominal) sales revenue on marketing, which is roughly twice of what they spent on R&D (Pharmaceutical Industry). The cost of innovation proves to be very high as the dose business is very uncivilised 1 out of 10,000 discovered compounds are canonical for sale. Since 2001, the Center for dose Evaluation and Research averaged 22.9 approvals per year. Only 3 out of 20 approved do drugss bring in adequate revenue to cover the R&D costs and only 1 out of 3 approved drug generate en ough revenue to cover previous failures. According to a study by Bain & Company, the cost of discovering, developing, and launching a new drug rose to approximately $1.7 billion in 2003, taking into account fortune costs, marketing, and other business expenses (Pharma Markets). SUPPLY The major factor touch supply is the advancement of technology. The development of simulation and data analysis tools condenses the drugs process time from development to full-scale production. Process imagination and high frequency camera systems help hasten products from clinical political campaign stage to commercial availability. Integrated sensors are being used to admonisher the performance and quality parameters of drug manufacturing processes on a real-time posterior in order to ensure the quality of the medicine ... ...http//www.who.int/trade/burnish/story073/en/index.html. Prest, Richard. Real need Forecasting. Pharmaceutical Industry. PharmaManufacturing.com, n.d. Web. 14 Mar. 2013. . Schacht, Wendy H., and John R. Thomas. unmingled Law and Its Application to the Pharmaceutical Industry. Rep. no. RL30756. The Library of Congress, 10 Jan. 2005. Web. 14 Mar. 2013. . Silverman, Ed. Global Drug Spending Is Forecast To Rebound. Pharmalot. PharmaLive.com, 12 July 2012. Web. 15 Mar. 2013. . Vogel, Ronald J. The Demand for Pharmaceuticals. Pharmaceutical Economics and Public Policy. New York Pharmaceutical Products, 2007. 90-108. Print.