While growth in the global pharmaceutical market remains anemic, rising just six to seven percent in 2006, emerging economies are galloping ahead to outpace growth in mature markets like the United States and major European nations. Pharmaceutical companies are finding bright spots outside of these traditional markets to compensate for increasingly flat global growth. Within the last five years, the emerging markets’ share of growth in the global pharmaceutical market has grown from 5 percent to 31 percent. The most stellar opportunity lies in China, which continues to emerge as a significant healthcare market. To look at growth in China is to see that all roads lead to this awakening giant that will dominate as the world’s largest economy by 2040. IMS Global Consutling’s Raymond Hill, Stephen Walter and Mandy Chui explore these dynamics.
All Roads Lead to China