Available on-demand: The future of UK pharma
The global pharmaceutical market passes a significant milestone in 2014: reaching one trillion US dollars in total value. IMS Health forecasts the global market will see a compound average growth rate of between 4 to 7 percent in constant dollar terms to 2018, driven by two very different speed growth engines: at best low single digit value growth in the developed markets, contrasting with largely double digit growth in the power house pharmerging markets.
In this two speed world, does the UK still matter as a market to the global headquarters of the major pharmaceutical markets?
Presented by IMS Health’s Sarah Rickwood and hosted by pharmaphorum’s Dr Paul Tunnah, this is an opportunity to obtain informed insight into what the coming four years may mean for the UK marketplace, ask questions and interact directly with Sarah and Paul.
The event took place on 9th July 2014.
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In a detailed comparison of the uptake of innovation (measured as new chemical entities), in the UK relative to other country markets, IMS Health finds that while the UK market is indeed a challenging market, austerity measures mean the gap between the UK and other major European markets has reduced.
This study indicates that in the wider global context, the UK still matters for launch as one of the lead developed markets which account for the overwhelming majority of the early years of new chemical entity sales.
As this future unfurls, the UK may find that it is in the vanguard of certain key trends: the rise of digital media changing the role of patients, and the increasingly effective use of real world data to optimize healthcare. Companies which address these issues will be those that can optimize the uptake of innovative products in the UK market.
Sarah Rickwood, Director, IMS Europe Thought Leadership team
Sarah Rickwood has 20 years’ experience as a consultant to the pharmaceutical industry, having worked in Accenture’s pharmaceutical strategy practice prior to joining IMS Management Consulting. She has an extremely wide experience of international pharmaceutical industry issues, having worked most of the world’s leading pharmaceutical companies on issues in the US, Europe, Japan, and leading emerging markets.
In her time with IMS, Sarah has played a key role in developing the Launch Excellence Thought Leadership and IMS’s Launch Excellence thought leadership studies and Launch Readiness offerings which provide IMS pharmaceutical clients with comprehensive and critical guidance during the crucial pre-launch and launch periods for their key brands. In this capacity she has advised companies on the launch of current and potential blockbusters in many therapy areas and countries.
Dr Paul Tunnah, CEO, pharmaphorum
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