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Pharmaceutical Industry in United States: Industry Analysis, Forecast, Competition Mapping and Market Trends Assessment, 2011-2015
Indagatio Research, June 2011, Pages: 78
This report analyses the U.S. pharmaceutical industry, its historical performance and future trends for various segments as well as overall market.
Competitive analysis of leading companies is presented with focus on threats from generics. Supply chain analysis of the U.S. pharmaceutical industry is given in detail. Also covered are the market trends, growth drivers and constraints, and an assessment of M&A activity in recent years.
The United States spends more than any other country in the world on healthcare, at an estimated 16% of GDP in 2010. Healthcare expenditure is likely to continue to grow at a faster pace than overall GDP, so that its share in GDP is likely to continue to rise. In March 2010 the president, Barack Obama, signed into law a wide-ranging package of healthcare reforms, which extends insurance to around 45.7 million residents without health insurance cover.
These reforms are still encountering strong opposition, however, while another major challenge, the long-term costs of the public healthcare programs in the context of an ageing society, has not yet been addressed. Vested interests and conflicting objectives of cost-cutting and raising coverage make healthcare a particularly difficult policy issue.
Key Report Takeaways:
- U.S. healthcare spending in 2010 was US$2.3 trillion or 16% of GDP, more than any other country in the world. United States is the largest pharmaceutical market globally, with 2010 sales of US$307 billion or 40% of global sales.
- In 2010, U.S. pharmaceutical sales grew at 2.3%; and since 2001 market has grown at a
CAGR of 6.6%. Brand drugs losing patent protection and exclusivity resulted in the reduction in sales of US$12.6 billion while the sales of generics increased by US$7.6 billion.
- Top 5 therapeutic classes accounted for one-third of total sales, lead by Oncologics
(US$22.3 billion), respiratory agents (US$19.3 billion), lipid regulators (US$18.7 billion), antidiabetes (US$16.9 billion) and antipsychotics (US$16.1 billion).
- Highly competitive industry with top 5 companies accounting for leading the pack is Pfizer with a market share of 8.52% followed by Merck (6.11%), AstraZeneca (5.95%), Novartis (5.1%) and Eli Lilly (4.65%).
- An ageing population, further patent expirations and the need for less expensive drugs will drive the growth of generics market. Pharmaceutical sales in the United States are expected to reach US$328 billion in 2011 and up to US$420 billion by 2015; growing at a CAGR of 6.4% between 2010 and 2015.
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