Friday, February 4, 2011

Emerging Regional Markets for Therapeutic Drugs


Emerging Regional Markets for Therapeutic Drugs

The overall emerging markets for therapeutic drugs totaled $131.4 billion in 2009. These regions include Latin America, China, Eastern Europe, the Middle East, South Korea, India, Russia, and South Africa. These regions are estimated at $145.8 billion in 2010 and expected to continue aggressive growth through 2015, reaching a figure of $214.2 billion, yielding a compound annual growth rate (CAGR) of 8% from 2010 to 2015.
The Eastern European market is estimated at $32.2 billion in 2010, an increase of 13.4% from 2009. A sharp increase is expected in the next 5 years, reaching a value of $55 billion by 2015, a compound annual growth rate (CAGR) of 11.5%.
Russia is a large market, given its single country position—this $6.5 billion market in 2009 hit $7.4 billion as of 2010 and is projected to reach $10.5 billion by 2015, a 2010 to 2015 compound annual growth rate (CAGR) of 7.1%.
INTRODUCTION
STUDY GOALS AND OBJECTIVES
This study provides a comprehensive analysis of emerging geographic markets on a global basis. Its aim is to provide a range of information, from detailed company analyses within disease subsegments to overall industry trends, in order to quantify and qualify the market for therapeutic drug products in the emerging geographic markets. Forecasts and trends are developed from a cross-reference of data points, gleaned from proprietary industry sources, company publications, industry benchmarking, and other divergent data sources to arrive at a cogent and coordinated forecast.
REASONS FOR DOING THE STUDY
For companies with a focused emerging markets strategy, significant opportunity awaits. Importantly, the ability to develop an effective strategy begins with where opportunity exists and ends with how to effectively execute to capture profit from the opportunity.
Therapeutic emerging geographic markets are the fastest growing of all regions across the globe. Market growth has been spurred by the uptake in growth driven by improved socioeconomic conditions, improved patent regimes, and an enhanced healthcare infrastructure.
This study investigates one of the most important market drivers: the increased aging of patients in emerging markets as well as the ability of these patients to pay for, or have paid for, leading healthcare. This dynamic alone is expected to continue to contribute substantially to market growth through the forecast period.
This report analyzes emerging markets by disease segment, company, and brands. Continued growth is expected in emerging geographies, driven by the growing middle class in emerging countries such as India, China, Brazil, and Russia.
This report seeks to address the critically important topics of analyzing a changing market dynamic, emerging players and technologies, strategies for accessing emerging markets, and specific disease segments and geographies in order to allocate resources and make effective decisions.
SCOPE OF REPORT
Current and projected product forecasts during the forecast period (2010-2015) are discussed. As well, new products approved in 2009 and 2010 by the U.S. Food and Drug Administration (FDA), and those products expected to be approved within the forecast period, are projected. The figure for 2010 is estimated, except where actual results have been reported, due to the release timing of the report.
The report includes analysis of leading and emerging competitors in current worldwide emerging geographic markets. Profiles of manufacturers of leading products as well as biotechnology companies with novel products in development are analyzed to define their specific product strategies employed. This report also assesses companies poised to introduce products during the forecast period and discusses how these introductions will change the face of the competitive environment. The competitive environment is examined with a special focus on how new products and technologies are influencing the current standard of care. Detailed profiles of current market leaders are discussed, as well as companies with innovative products poised to advance within the forecast period.
Market figures are based on revenues at the manufacturers’ level and are projected at 2010 dollar value. Inflation is not computed into the projection figures. Trends are assessed based on projected sales for existing products, new product introductions, expanded indications for existing products, and projected changes in the prevalence, diagnosis, and scripting rates for certain diseases.
Included in this report are forecasts by product, product category, and by company from 2009 through 2015. The study is arranged to offer an overview of the emerging geographic markets accompanied by product, company, geography, and mechanism of action with forecasts broken down and covered by geographic region or country. Virtually every emerging geographic region across the entire globe is covered.
Excluded from this report are over-the-counter (OTC) medications, and other consumables that do not require a physician’s prescription.
Sales figures are reported in U.S. dollars and in each case reflect currency fluctuations within the performance of revenue change. Revenue figures do not account for variation in local currencies.
All market share data is on a global basis, unless specifically noted.
INTENDED AUDIENCE
This report is an invaluable tool for business planners, acquisitions specialists, licensing strategists, product managers, market research analysts, investors, investor consultants, and anyone interested in emerging geographic markets, its products, its industry participants, and its future.
The importance of identifying overall market trends, product opportunities, emerging geographies, M&A opportunities, and insights that provide guidance for sales growth or defensive moves cannot be overstated for a variety of constituents, including:
  • Established companies in the industry shall benefit from the contents, including corporate strategy, sales and marketing, business development, and R&D.
  • Emerging biotechnology players in the segment must understand specific opportunities for out-licensing, originating from the elements of differentiation of their therapeutic drug as compared to leading, competitive, and emerging therapies. As well, market forecasts can support investment, provided a thorough and detailed substantiation is given for the market forecast, as is found in this study.
  • Investment firms evaluating candidates for venture capital or hedged investments will gain insights as to the opportunity and risks that are being encountered in the industry, in a product- and company-specific analysis.
  • Equity analysts have provided detailed forecasts for the next 5 years, substantiated by quantitative analysis that can support further analysis to product and company forecasts over the short and long run.
METHODOLOGY AND INFORMATION SOURCES
Both primary and secondary research methodologies were used in preparing this study. In-depth interviews were conducted with company executives, industry analysts, and leading medical practitioners in the field.
Due to data constraints, China revenue and market data is assembled for therapeutic products sold in a hospital setting only, and does not include retail pharmaceutical sales.
Information to prepare this report was obtained from participating and emerging companies in the emerging geographic markets WHO report; American Medical Association, The American Parkinson Disease Association, The National Multiple Sclerosis Society, the National Institute of Mental Health, and The American Journal of Psychiatry, Depression and Anxiety, American Parkinson Disease Association; American Heart Association, the National Heart, Lung and Blood Institute and the National Heart, Lung, and Blood Institute; articles published in medical journals such as American Heart Journal, Circulation, Journal of Emerging Geographic Markets Pharmacology, Lancet, and others; the World Health Organization and other government agencies; literature searches; annual reports; 10Ks; and other publicly available sources of information. Population estimates are based on those reported by the International database of the U.S. Census Bureau.
Current and historical revenue figures for individual products have been sourced from company disclosures that exist in the public domain or from government sources.
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