When assessing the outlook for the global pharmaceutical market, ‘Asia’ tends to be viewed as single entity. In fact, the markets of this region are developing in different ways and at different speeds, says Asia correspondent A Nair.
In a bid to push through and surface among the Top 5 global pharmaceutical markets, the medicines industries of Asia are developing at markedly different speeds and are characterised by both contrasting and similar macro environments.
Asia is emerging not just as a drug manufacturing powerhouse but also as a rival to the US as a leading source of drug discovery and high end innovation. Both clinical trials activity and investments by drug majors are set to expand in Asia, with India and China leading the charge, fuelled by the increased consumer spend on drugs and enormous domestic demand.
The challenges are as varied as the countries that comprise the Asian pharmaceutical sector, which are projected to have a total pharmaceutical market value of US$69.1bn (€53.1bn) by 2016.
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