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Worldwide Prescription Drug Sales to Exceed Trillion Dollar Mark by 2020
New optimism for pharma market prospects in Evaluate's "World Preview 2014, Outlook to 2020" report
- Industry to grow, on average, 5.1 percent per year from 2013 to 2020
- Quality of new drug approvals rose 43 percent, adds $24.4bn to US drug sales in 2018
- Biologicals make up 52 percent of top 100 prescription % OTC drug sales in 2020
- Oncology to set record high growth with 11.2 percent CAGR to 2020
- Novartis top company by global drug sales in 2013, expected to remain through 2020
- Teva Pharmaceutical leading generic drug maker in 2013
LONDON, BOSTON, TOKYO (June 24, 2014) — Record breaking new drug approvals, a hefty product pipeline and dramatically improved R&D productivity that has kept expenditure growth below sales growth prove that the industry is turning a new corner according to Evaluate's "World Preview 2014, Outlook to 2020" report.
"This much improved growth outlook comes as welcome news after two years of actual sales stagnation," said Paul Hills, report author and Evaluate's head of operations. "While the patent cliff is now but a distant memory, a new debate over drug pricing is stirring up controversy. This will only intensify as the industry continues to shift away from primary care and new technology waves offer innovative products that potentially take costs out of healthcare."
The "World Preview 2014, Outlook to 2020" report, based no market intelligence and consensus forecasts from EvaluatePharma, can be downloaded at www.evaluategroup.com/wp2014. A hard-copy Executive Summary of the report is available at EvaluatePharma's Booth #2521 at the 2014 BIO International Convention.
About Evaluate Ltd.
Evaluate is the trusted source for life science market intelligence and analysis with exclusive consensus forecasts to 2020. We support life science and healthcare companies, financial institutions, consultancies and service providers in their strategic decision-making. Our services include EvaluatePharma, EvaluateClinical Trials and EvaluateMedTech. Our global team of dedicated healthcare analysts employs rigorous methodologies to deliver strategic commercial analysis. We make our services valuable by combining superior quality content, user-friendly reporting tools and outstanding customer service to solve client problems.
For more information visit: www.evaluategroup.com. On Twitter: @evaluatepharma, @evaluatemedtech, @epclinicaltrial, @epvantage.
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