This morning, IMS Health announced that the global pharmaceutical market grew just 6.4 percent in 2007, compared to 11.5% back in 2000. Worldwide sales now top $712 billion, compared to $365 billion back in 2000.
Highlights of the IMS Health announcement include:
- U.S., the largest pharmaceutical market (45.9% of total worldwide sales), had sales of $286.5 billion in 2007, but accounted for only a quarter of the growth globally. U.S. growth is an anemic 4.2%
- Latin American sales jumped 11.6% reaching $65.2 billion
- Japan, the second largest market, had growth of only 3.6%
- Europe now registers sales of $221.6 billion, with exception growth coming in Russia at 20.2% and Turkey at 17.2%
- Asian markets experienced significant growth of 13.3%. China grew by 25.7%, Korea at 10.7% and India at 13.0% in 2007
