The pharmaceutical industry, one of the most profitable industries in
the United States, plays a significant role in the world pharmaceutical
industry as well.
The US is the world’s largest market for pharmaceuticals and the world leader in biopharmaceutical research. The US firms conduct 80 per cent of the world’s research and development in biotechnology and hold the intellectual property rights to most new medicines.
The latest report on the US healthcare industry forecasts the country’s pharmaceutical market value to climb from $359 billion in 2012 to $476 billion in 2020, increasing by 33 per cent over the eight year period.
The expansion of the insured population, prompted by the introduction of Patient Protection and Affordable Care Act (PPACA), will play a key role in driving US pharmaceutical market revenue up by a third by the end of the decade, the report adds.
With the PPACA (commonly known as Obamacare) extending health insurance to 32 million more Americans by 2016, patient pools and the demand for drug therapy are expected to increase significantly, driving up healthcare expenditure and pharmaceutical revenue as a result.
Like many other countries around the world, the US is expected to experience growth in its elderly population, climbing from a 19 per cent share of all Americans in 2012 to more than 22 per cent by 2020. The expansion of the 60 and over age demographic is another factor that will inevitably drive the US pharmaceuticals industry, owing to the corresponding increase in healthcare demand.
Reflecting the dynamic changes taking place in the US pharma industry , the International Pharmaceutical Expo (INTERPHEX), the leading annual trade event dedicated to the pharmaceutical and biopharmaceutical industry, will be taking place from March 18-20 at the Javits Center in New York City.
The US is the world’s largest market for pharmaceuticals and the world leader in biopharmaceutical research. The US firms conduct 80 per cent of the world’s research and development in biotechnology and hold the intellectual property rights to most new medicines.
The latest report on the US healthcare industry forecasts the country’s pharmaceutical market value to climb from $359 billion in 2012 to $476 billion in 2020, increasing by 33 per cent over the eight year period.
The expansion of the insured population, prompted by the introduction of Patient Protection and Affordable Care Act (PPACA), will play a key role in driving US pharmaceutical market revenue up by a third by the end of the decade, the report adds.
With the PPACA (commonly known as Obamacare) extending health insurance to 32 million more Americans by 2016, patient pools and the demand for drug therapy are expected to increase significantly, driving up healthcare expenditure and pharmaceutical revenue as a result.
Like many other countries around the world, the US is expected to experience growth in its elderly population, climbing from a 19 per cent share of all Americans in 2012 to more than 22 per cent by 2020. The expansion of the 60 and over age demographic is another factor that will inevitably drive the US pharmaceuticals industry, owing to the corresponding increase in healthcare demand.
Reflecting the dynamic changes taking place in the US pharma industry , the International Pharmaceutical Expo (INTERPHEX), the leading annual trade event dedicated to the pharmaceutical and biopharmaceutical industry, will be taking place from March 18-20 at the Javits Center in New York City.
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