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The world pharmaceutical market grew by 10. ... North America remains the world’s largest pharmaceutical market, accounting for 50. ... It may have caused problems as some Americans may cross the borders to purchase cheaper drugs but overall, the USA creates higher value pharmaceutical jobs. ...
The current global trends include the prominence of numerous mergers and acquisitions. ... The first would be a search for critical mass, since the market shares of even the largest pharmaceutical manufacturers are often considered too small to maintain a strong competitive position, consolidation is often seen as a means of enhancing market positions in given geographic areas. Many of the smaller operators see increased size as part of their strategic route to international status and effective competition in a global market place.
Secondly, the annual R&D budgets of most of the top-tier pharmaceutical producers are enormous, with spending often exceeding 20% of sales and amounting to approximately $1 billion in absolute terms. ...
Another trend in the pharmaceutical industry would be the entry of biogenetic firms. Recent changes in technology have dominated and revolutionized the pharmaceutical industry, with the traditional methods of drug development being superseded by that of biotechnology. In order to keep up with the rapidly evolving pace of technological growth, many of the larger pharmaceutical firms have resorted to acquiring new technology start-ups such as biotechnology firms, as well as larger rivals so as to gain access to research programs or gene databases. ... Now, new centres of pharmaceutical excellence are born around the globe. ... The future map of pharmaceutical R&D and production will almost certainly be significantly more fragmented than the present one. ... Initiatives to reduce pharmaceutical budgets will become increasing evident over the next decade, coupled with specific decree laws and reforms; this will effect changes in pricing and reimbursement, thus encouraging the use of generics. ...
One of the more interesting trends is the concern over the image of the pharmaceutical industry. There have been global debates over the ethical aspects on the length of patents, the pricing of medicine, the cost of marketing and R&D distribution as well as the kind of pharmacogenomic tests conducted and the security of the test results.
Approximate Word count = 1775
Approximate Pages = 7.1
(250 words per page double spaced)
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