Navi Mumbai, Maharashtra India (PressExposure) June 15, 2011 -- The Asia Pacific region is emerging as the fastest growing pharmaceutical industry in the global pharmaceutical arena. Low labor and manufacturing costs have attracted huge investments from the global giants. For instance, GSK, Pfizer along with other pharma companies have opened their manufacturing facilities in South Korea and various other countries of the region. In combination with increasing disposable income of the consumers and increasing prevalence of lifestyle diseases, these factors will help the market to grow at double digit growth rate during the forecast years. Resultantly, size of the Asian Pacific pharmaceutical market is estimated to reach around US$ 168 Billion at the end of 2010.
According to our latest research report "Asia Pacific Pharma Sector Analysis", future of the pharma industry in the Asia-Pacific region remains bright, and the industry is projected to grow at a CAGR of over 12% during 2011-2013. Growth will mainly be driven by low cost factors, changing regulatory environment, and significant developments in the field of contract manufacturing, particularly in APIs. Currently, the market is characterized by high growth of generics, and the same trend will continue in near future also.
We have found that the Asia-Pacific region has emerged as a new destination for developing new vaccines at low costs. The companies in this region have adopted latest technologies and efficient production methods to develop vaccines for diseases like, Hepatitis A and B at prices much lower than the western companies. This has attracted huge investments and companies, which has boosted the growth of the market. Besides, medical tourism market of several countries such as, Malaysia, Thailand, India, and the Philippines are all expanding growth rates, which has also helped in the significant growth of the market.
Our research reveals that the pharma sales are rapidly growing in countries like, India, China, Malaysia, South Korea, Thailand, and Indonesia. This growth is mainly attributed to the increase in disposable income along with the emergence of several health insurance schemes, which are boosting sales of the branded drugs. Besides, intense competition among key players in the region and the government regulations to cut the costs have fuelled the market growth.
"Asia Pacific Pharma Sector Analysis" also provides information of the key competitors in each country along with their business information and areas of expertise. The report presents a highly concentrated structure of the market, along with the top players dominating the market. It provides segment level analysis of the industry along with emerging trends that may shape up with the betterment of economic conditions. The research will help consultants, industry analysts, and vendors to get an in-depth knowledge of the current, past, and future performance of the industry. The report provides an extensive research on the recent trends of the Asia Pacific pharmaceutical industry along with the impartial analysis considering the impact of financial crisis on its performance.
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