Research And Development Of Pharmaceutical Industry Market

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Pharmaceutical Industry Market Review Report ( http://www.bharatbook.com/Market-Research-Reports/Pharmaceutical-Industry-Market-Review.html ) which gives the information about the growth of Pharmaceutical Industry Market.

The total UK market for pharmaceuticals was worth an estimated £13.65bn in 2007. Prescription-only medicines accounted for most of this figure, with a smaller share being taken by over-the-counter (OTC) pharmaceuticals.

The UK is home to the most important pharmaceutical industry in Europe in terms of development and marketing. In 2006, the industry exported £13.8bn worth of medicines and showed a trade surplus of £4.3bn. The UK market is also one of the most cost-effective in Europe and, arguably, the world. Since 2005, the introduction of a new Pharmaceutical Price Regulation Scheme (PPRS) and the wider use of generic products have brought about a reduction in per capita expenditure on medicines by the NHS. Plans to introduce more value-based pricing could lead to even greater control over a drug's long-term future within the Health Service than is currently the case. The National Institute ...
... for Health and Clinical Excellence (NICE) recently approved a pay-for-performance contract for a new treatment, Velcade, in a departure from the unit pricing model traditionally used in the market.

Greater analysis of the costs and benefits of the medicines used by the NHS is likely to take place in the future, but demand for pharmaceuticals continues apace. The number of prescriptions written in the UK is rising year-on-year and, since the UK has an ageing population, this trend looks set to continue. The most important therapeutic areas are likely to remain those related to age, such as cardiovascular disease and cancer. Demand for more effective treatments for neurological problems such as Alzheimer's disease and psychiatric conditions is also likely to intensify.

The Government would like to place a greater emphasis on self-care -- a strategy obviously supported by the OTC sector. Growth in sales of OTC medicines has been sluggish in recent years, and a fiercely competitive retail environment, creating downward pressure on prices, is likely to remain a feature of the UK market. As long as exemption from prescription charges remains so widespread, it is difficult to find ways of encouraging consumers to self-medicate. However, the research carried out for this report suggests that affluent consumers aged 25 to 54 are the most promising market.

The global market for pharmaceuticals is likely to continue to grow as developing countries demand higher standards of healthcare. However, the focus on cost control in major markets is likely to be sustained, and this will be reflected in the way that drugs are marketed, and also at the level of research and development (R&D). It may be that only the most visibly cost-effective treatments will survive. Nevertheless, the market will continue to be driven by demand for better treatments for the most pernicious diseases, and this augurs well for the UK pharmaceutical industry.

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