SOURCE: MarketResearch.com

MarketResearch.com

November 14, 2011 09:08 ET

BRIC Pharmaceuticals Market Reached $132 Billion

ROCKVILLE, MD--(Marketwire - Nov 14, 2011) - MarketResearch.com has announced the addition of the new report "The Outlook for Pharmaceuticals in Brazil, Russia, India & China" to their collection of Manufacturing, Packaging & Detailing market reports. For more information, visit http://www.marketresearch.com/Espicom-Healthcare-Intelligence-v1129/Outlook-Pharmaceuticals-Brazil-Russia-India-6665656/

With strong economic growth, a combined population of 2.9 billion people and significant unmet healthcare needs, challenges and opportunities remain in BRIC pharmaceutical markets. Their combined market, including pharmacy and hospital sales, is valued at US$132.2 billion at retail prices. This market is collectively lower than the USA and just higher than Japan, but impressive growth rates mean that pharmaceutical companies should have long-term interests in these markets. China, in fact, is expected to become the second leading worldwide pharmaceutical market by 2016.

There are wide regional health expenditure differences within the BRIC markets, far more than in developed countries where health systems provide a more uniform coverage level. These four countries, however, have a relatively wealthy urban population with a far greater spending power than their respective national average. In the case of China and India, these urban populations have grown rapidly, and number hundreds of millions. The challenge for these countries is to extend this level of wealth to the rest of the population, so that better levels of healthcare become affordable. China, for instance, plans to create a solid platform for universal healthcare access for all by 2020.

Pharmaceutical market growth has been impressive in recent years. Market change, however, is expected to be incremental. Short-term opportunities exist to meet the health demands of the burgeoning middle classes, whilst future prospects are bright, fuelled by strong economic performance. A high pharmaceutical market growth projected in BRIC markets is expected to erode some of the commercial differences with the established, but more sluggish, pharmaceutical markets in North America, Japan and Europe. Only Brazil is expected to have a low market CAGR in US dollar terms over the 2011-2016 period, as the Economist Intelligence Unit projects a strong exchange rate of the US dollar against the local currency.

The Brazilian pharmaceutical market is the third largest in the Americas region, behind the USA and Canada; it ranks first in the Latin American region. Pharmaceutical demand will continue to rise, fuelled by increasing disposable income, therefore the market outlook is positive for the 2011-2016 period. Competition among the five leading pharmacy chains is fierce, and the sector has been consolidated by a recent wave of mergers. In September 2011, Drogaria Sao Paulo, the leader in the state of Sao Paulo, and Drogarias Pacheco, the leader in Rio de Janeiro, announced a merger, creating what will be the largest pharmacy chain in Brazil, DPSP. This merger took place after the merger between Drogasil and Droga Raia, announced in August 2011, creating the second largest pharmacy chain, Raia Drogasil.

For more information, visit http://www.marketresearch.com/Espicom-Healthcare-Intelligence-v1129/Outlook-Pharmaceuticals-Brazil-Russia-India-6665656/

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