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One of the fasted growing industries in the world, the pharmaceuticals industry is also one of the biggest contributors to the world economy. The major sales of the pharmaceuticals products come from the “Triad (US, EU and Japan) in the world.
The size of the world pharmaceutical market in 2014 was around USD 1.2 Trillion and is estimated to be USD 1.4 Trillion by 2020. The largest share of pharmaceutical revenues is by far made by the branded and patented medicines. More than any other industry, the pharmaceutical sector is highly dependent on the research and development segment.
Pharmaceutical companies worldwide invest 20 percent or more of their revenues in R&D measures. Brazil, Russia and India put togeather contribute about 6 percent of global consumption of medicine.
Also got covered in thepharmatimes.in
