According to IQVIA’s recent report on global pharmaceutical trends, the thriving markets of Japan and China could be set to slow down.
During recent years, annual growth in these markets has been around 6.3%, but looks set to be between 3 and 6% from now until 2023. In fact, spending on medicines is expected to continue to decline in the developed world, so “pharmerging” markets such as China are still a significant opportunity for the industry.
In a digest of IQVIA’s work, Brink Asia quote that:
“The next five years will likely pose a similar scale of challenges [to biopharmaceutical companies]. With payer actions on prices looming, it remains to be seen whether companies can repeat their past successes in terms of revenue and cost management.”