Pharma revenues set to double by 2020!

As predicted by PricewaterhouseCoopers (PwC), by 2020 global pharmaceutical market would witness a sales doubling to the tune of $1.3 trillion. Reasons like ever increasing population, obesity and preventive treatments will attribute to this doubling of sales. Interestingly Brazil, China, India, Indonesia, Mexico, Russia and Turkey would hold one-fifth of these revenues. As per the report however ‘the current pharmaceutical industry business model is both economically unsustainable and operationally incapable of acting quickly enough to produce the types of innovative treatments demanded by global markets’. PwC proposed that to tap the potential markets, the industry should definitely undergo certain elementary changes in the manner it operates.

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Source: IIPM Editorial, 2006
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