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Pharma Trends in the worldSunday October 6, 2019 at 7:22 am
With major business uncertainty in the world, it is essential to keep an eye out on the major Pharmaceutical Industry trends in 2019.
Trend #1: Sales growth
Given that the access to markets is becoming difficult, the sales growth in the Pharma industry is slow. The developed markets of the US and Europe are reaching a saturation point. There is more need than ever for innovation, cost-benefits and product differentiation to provide a meaningful improvement in the quality of life of patients. The emerging markets of India, China, and Brazil having large populations with so many unmet healthcare needs is seeing a surge in the industry.
Trend #2: Biosimilars
Similar versions of biological medicines called Biosimilars are emerging in the healthcare systems. With the increase in Biosimilars, the financial burden in using otherwise original Biological medicines will decrease. It will also provide an opportunity for the patient to widen their access to Biological meds. Biosimilars are getting serious with the market gaining mass. The focus is shifting from Biologics to more complex antibodies.
Trend #3: Drug Pricing
Cost-containment is another trend in the Pharma industry with Trump administration tightening conditions like discounts and rebates. Even in Europe, the situation is the same and administration wishes for more centralized costs for healthcare. Drug-cost inflation, especially of new biopharmaceuticals, is a challenge for patients, payers and even politicians.
Trend #4: Brexit is on
Brexit remains a worry for the pharmaceutical industry. It is expected that Brexit may adversely impact the medicine supply and its regulation. Its wide implications may be detrimental for the industry since the National Health Service is already hard-pressed.
Trend #5: Pharma gender disparity
Pharma industry is no different than other industries when it comes to gender disparities. And before the #Me Too movement, there were still debates around equal opportunities for women in Pharma industries. At the executive level, you will barely see any females.