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Datamonitor Industry Market Research, Dec 15, 2006 pNAGlobal - Pharmaceuticals.(Industry overview)Full Text: COPYRIGHT 2006 DatamonitorMarketDefinition The pharmaceuticals market consists of ethical drugs only and does not include consumer healthcare or animal healthcare. Market values have been calculated at ex-factory prices (the value at which manufacturers sell the drugs to distributors). Any currency conversions used in the production of this report have been calculated at constant 2005 annual average exchange rates. Market shares are for sales in 2005, the most recent full year results available. For the purpose of this report, the European market is deemed to consist of Belgium, the Czech Republic, Denmark, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Russia, Spain, Sweden and the UK. Asia-Pacific consists of Australia, China, India, Japan, Singapore, South Korea and Taiwan. The Americas consists of the US, Canada, Brazil and Mexico. The global market consists of Europe, Asia-Pacific and the Americas. ResearchHighlights *The global pharmaceuticals market generated total revenues of $555.5 billion in 2006, this representing a compound annual growth rate (CAGR) of 6.6% for the five-year period spanning 2002-2006. *Cardiovascular drug sales proved the most lucrative for the global pharmaceuticals market in 2006, generating total revenues of $106.2 billion, equivalent to 19.1% of the markets overall value. *The performance of the market is forecast to decelerate, with an anticipated CAGR of 4.8% for the five-year period 2006-2011 expected to drive the market to a value of $703.5 billion by the end of 2011. MarketAnalysis Although the global market grew considerably, the growth rates showed year-on-year deceleration during the 2002-2006 review period. Looking forward, annual growth rates are predicted to stabilize. The most lucrative market is that of the US, which accounts for almost half of global revenues. The global pharmaceuticals market generated total revenues of $555.5 billion in 2006, this representing a compound annual growth rate (CAGR) of 6.6% for the five-year period spanning 2002-2006. In comparison, the European and Asia-Pacific markets grew with CAGRs of 5% and 4.7% over the same period, to reach respective values of $155.5 billion and $102.7 billion in 2006. Cardiovascular drug sales proved the most lucrative for the global pharmaceuticals market in 2006, generating total revenues of $106.2 billion, equivalent to 19.1% of the markets overall value. In comparison, sales of central nervous system drugs generated revenues of $100.7 billion in 2006, equating to 18.1% of the markets aggregate revenues. The performance of the market is forecast to decelerate, with an anticipated CAGR of 4.8% for the five-year period 2006-2011 expected to drive the market to a value of $703.5 billion by the end of 2011. Comparatively, the European and Asia-Pacific markets will grow with CAGRs of 3.8% and 4.9% respectively over the same period, to reach respective values of $187.4 billion and $130.6 billion in 2011. Value The global pharmaceuticals market grew by 4.9% in 2006 to reach a value of $555.5 billion. The compound annual growth rate of the market in the period 2002-2006 was 6.6%. Global Pharmaceuticals Market ValueUnit: USD Year Value Growth2002 4309000000002003 468300000000 8.7%2004 500000000000 6.8%2005 529400000000 5.9%2006 555500000000 4.9%CAGR 2002-2006 6.6%Segmentation Sales of drugs with a cardiovascular application generate 19.1% of the markets value. Sales of drugs targeted at the central nervous system account for a further 18.1% of the markets revenues. Global Pharmaceuticals Market SegmentationYear: 2006 Category PercentageCardiovascular 19.1%Central Nervous System 18.1%Alimentary/Met 14.2%Respiratory 8.8%Anti-Infectives 7.7%Other 32.1%Segmentation The Americas region accounts for 53.5% of the global markets value. In comparison, Europe generates 28% of the global markets revenues. Global Pharmaceuticals Market SegmentationYear: 2006 Geography PercentageAmericas 53.5%Europe 28%Asia-Pacific 18.5%Share Pfizer leads the global market with a 8.7% share of the markets revenues. GlaxoSmithKline generates a further 6.3% of the market value. Global Pharmaceuticals Market ShareYear: 2005 Company PercentagePfizer 8.7%GlaxoSmithKline 6.3%Sanofi-Aventis 5.5%Novartis 5%Other 74.4%CompetitiveLandscape Pfizer Inc. (Pfizer) is a leading global pharmaceuticals company engaged primarily in the research, development, and production of pharmaceutical products. It specializes in the human health, animal health, and consumer healthcare segments. The companys key products include Lipitor, the best selling pharmaceutical product in the world, and Norvasc, the most prescribed anti-hypertensive. Pfizer reported global revenues of $51.3 billion for 2005. In the forthcoming period, Pfizer intends to increase profit through cost reduction initiatives, including a continuation of the optimization of its manufacturing plants globally, the reduction of purchased goods and service, and through IT realignment, including a reduction in software purchases. Several new drugs have been approved for test or sale in a number of national markets, and Pfizer intends to pursue these to increase revenues. GlaxoSmithKline (GSK) has a 6.3% share of the global markets revenues. The company recorded worldwide revenues of $39.5 billion during 2005, an increase of 8% over 2004. Of these, 86% were generated from pharmaceuticals, and the remainder from consumer healthcare. The largest market for GSK is the US, which accounts for 49% of its pharmaceutical turnover, while Europe generates 30% of pharmaceutical turnover. The companys principal research and development (R&D) facilities are in the UK, the US, Japan, Italy and Belgium. Its products are manufactured in 38 countries. The major markets for GSKs products are the US, Japan, Sweden, Germany, the UK, and Italy. Going forward, the company aims to strengthen its product pipeline. Innovation will be important in achieving this objective, as will the ability to manage the full lifecycle of pharmaceuticals: GSK will focus not only drug development, but also on in-licensing, commercialization, and supply chain management. This section contains brief overviews of the leading companies in the Global pharmaceuticals market. Company Pfizer Inc Pfizer is a global pharmaceutical and consumer products company that discovers, develops, manufactures and markets medicines for humans and animals. The company operates through three business segments: human health (previously pharmaceutical), consumer healthcare and animal health. Pfizer produces drugs such as the impotence treatment drug, Viagra; Zoloft, for the treatment of depression; and Lipitor, for the treatment of hyperlipidemia. It is headquartered in New York City and employs about 115,000 people. The company recorded revenues of $51,298 million during the fiscal year ended December 2005, a decrease of 2.3% from 2004. The decrease was primarily attributable to declining revenues from the companys domestic market, as well as lowered sales from a number of its core pharmaceutical products. The net income of the company during fiscal 2005 was $8,085 million, a decrease of 29% over fiscal 2004. Company GlaxoSmithKline Plc GlaxoSmithKline (GSK) is one of the top five pharmaceutical firms in the world. GSK develops, manufactures and markets pharmaceuticals, vaccines, over-the-counter (OTC) medicines and health-related consumer products. The company operates primarily in 116 countries and its products are sold in over 125 countries. It is headquartered in Brentford, UK. The company recorded revenues of $39,381.8 million during the fiscal year ended December 2005, an increase of 8% over 2004. The operating profit of the company during fiscal 2005 was $12,498.2 million, an increase of 19% from fiscal 2004. The net profit for fiscal 2005 was $8,756.4 million, an increase of over 19% compared to the previous year. Company Sanofi-Aventis Group Sanofi-Aventis GroupSanofi-Aventis is an international pharmaceutical group engaged in the research, development, manufacture and marketing of pharmaceutical products for sale principally in the prescription market. Sanofi-Aventis operates in more than 100 countries across Europe, the Americas, Asia-Pacific and Africa. It is headquartered in Paris, France. The company recorded revenues of $33,946.5 million during the fiscal year ended December 2005, an 8.4% increase on fiscal 2004. The net income was $3,223 million during fiscal 2005, up 15.7% on the previous year. ForecastValue In 2011, the global pharmaceuticals market is forecast to have a value of $703.5 billion, an increase of 26.6% since 2006. The compound annual growth rate of the market in the period 2006-2011 is predicted to be 4.8%. Global Pharmaceuticals Market Value ForecastUnit: USD Year Value Growth2006 555500000000 4.9%2007 583300000000 5%2008 612000000000 4.9%2009 641600000000 4.8%2010 672100000000 4.7%2011 703500000000 4.7%CAGR 2006-2011 4.8%Article A156814825 Datamonitor Industry Market Research, Dec 15, 2006 pNAUnited States - Pharmaceuticals.(Industry overview)Full Text: COPYRIGHT 2006 DatamonitorMarketDefinition The pharmaceuticals market consists of ethical drugs only and does not include consumer healthcare or animal healthcare. Market values have been calculated at ex-factory prices (the value at which manufacturers sell the drugs to distributors). Any currency conversions used in the production of this report have been calculated at constant 2005 annual average exchange rates. Market shares are for sales in 2005, the most recent full year results available. For the purpose of this report, the European market is deemed to consist of Belgium, the Czech Republic, Denmark, France, Germany, Hungary, Italy, the Netherlands, Norway, Poland, Russia, Spain, Sweden and the UK. Asia-Pacific consists of Australia, China, India, Japan, Singapore, South Korea and Taiwan. The Americas consists of the US, Canada, Brazil and Mexico. The global market consists of Europe, Asia-Pacific and the Americas. ResearchHighlights *The US pharmaceuticals market generated total revenues of $260.8 billion in 2006, this representing a compound annual growth rate (CAGR) of 7.4% for the five-year period spanning 2002-2006. *Central nervous system drug sales proved the most lucrative for the US pharmaceuticals market in 2006, generating total revenues of $59.6 billion, equivalent to 22.9% of the markets overall value. *The performance of the market is forecast to decelerate, with an anticipated CAGR of 5% for the five-year period 2006-2011 expected to drive the market to a value of $332.8 billion by the end of 2011. MarketAnalysis Although the market grew considerably, growth rates showed year-on-year deceleration during the 2002-2006 review period. Looking forward to 2011, annual growth rates are predicted to stabilize. The US pharmaceuticals market generated total revenues of $260.8 billion in 2006, this representing a compound annual growth rate (CAGR) of 7.4% for the five-year period spanning 2002-2006. In comparison, the European and Asia-Pacific markets grew with CAGRs of 5% and 4.7% over the same period, to reach respective values of $155.5 billion and $102.7 billion in 2006. Central nervous system drug sales proved the most lucrative for the US pharmaceuticals market in 2006, generating total revenues of $59.6 billion, equivalent to 22.9% of the markets overall value. In comparison, sales of cardiovascular drugs generated revenues of $50.2 billion in 2006, equating to 19.3% of the markets aggregate revenues. The performance of the market is forecast to decelerate, with an anticipated CAGR of 5% for the five-year period 2006-2011 expected to drive the market to a value of $332.8 billion by the end of 2011. Comparatively, the European and Asia-Pacific markets will grow with CAGRs of 3.8% and 4.9% respectively over the same period, to reach respective values of $187.4 billion and $130.6 billion in 2011. Value The United States pharmaceuticals market grew by 5.2% in 2006 to reach a value of $260.8 billion. The compound annual growth rate of the market in the period 2002-2006 was 7.4%. United States Pharmaceuticals Market ValueUnit: USD Year Value Growth2002 1963000000002003 219200000000 11.7%2004 236600000000 7.9%2005 248000000000 4.8%2006 260800000000 5.2%CAGR 2002-2006 7.4%Segmentation The sale of central nervous system drugs generates 22.9% of the markets value. Sale of cardiovascular drugs forms a further 19.3% of the markets revenues. United States Pharmaceuticals Market SegmentationYear: 2006 Category PercentageCentral Nervous System 22.9%Cardiovascular 19.3%Alimentary/Met 13.9%Respiratory 9.3%Anti-Infectives 7.4%Other 27.4%Segmentation The United States generates 47% of the global pharmaceuticals markets value. Europe accounts for an additional 28% the global markets value. United States Pharmaceuticals Market SegmentationYear: 2006 Geography PercentageUnited States 47%Europe 28%Asia-Pacific 18.5%Rest of the World 6.6%Share Pfizer leads the US market with a 10.8% market value share. GlaxoSmithKline generates a further 7.9% of the markets value. United States Pharmaceuticals Market ShareYear: 2005 Company PercentagePfizer 10.8%GlaxoSmithKline 7.9%Johnson & Johnson 6.3%Merck & Co 6%Other 69%CompetitiveLandscape The leading players in the US pharmaceuticals market include GlaxoSmithKline, Johnson & Johnson, Merck & Co, and Pfizer. The introduction of many innovative products is one reason for the growth of the US pharmaceuticals market in recent years. However, not all of the players have been enjoying the buoyant market conditions. Small companies have been having a difficult time, and through the next period the larger pharmaceuticals firms look set to further tighten their grip on the US market. The pharmaceutical industry is experiencing a period of heightened regulatory scrutiny both in the US and globally. This trend is driving a powerful reaction among companies to put in place robust enterprise-wide compliance management programs designed to reduce risk, enhance management controls, and ensure compliance. The cost of implementing these systems must be added to the cost of complying with Sarbanes-Oxley regulations. Generic drug manufacturers also represent a significant threat to research-based pharmaceutical companies. As these firms do not have to recoup high R&D costs they can offer drugs at a much lower price than the pharmaceutical giants. As a result, generics manufacturers inevitably capture a significant proportion of revenues upon a patents expiry. Protection of patents is therefore one of the most important determinants of the long-term prosperity of the leading players. Careful monitoring of patent expiry dates, in conjunction with astute drug portfolio management, will make sure that new patent-protected drug analogs come onto the market as older drugs are released for general sale. This will ensure steady profits moving forward. Pfizer leads the US pharmaceuticals market, with US sales in 2005 amounting to $26.8 billion, this accounting for 10.8% of the markets value. It specializes in the human health, animal health, and consumer healthcare segments. The companys key products include Lipitor, the best selling pharmaceutical product in the world, and Norvasc, the most prescribed anti-hypertensive in the world, both of which are produced and distributed by Pfizer. Pfizer reported global revenues of $51.3 billion for 2005. Going forward, Pfizer aims to increase profit through cost reduction initiatives, including a continuation of the optimization of its manufacturing plants globally, the reduction of purchased goods and service, and through IT realignment, including a reduction in software purchases. Several new drugs have been approved for test or sale in a number of national markets, and Pfizer intends to pursue these to increase revenues. This section contains brief overviews of the leading companies in the United States pharmaceuticals market. Company Pfizer Inc Pfizer is a global pharmaceutical and consumer products company that discovers, develops, manufactures and markets medicines for humans and animals. The company operates through three business segments: human health (previously pharmaceutical), consumer healthcare and animal health. Pfizer produces drugs such as the impotence treatment drug, Viagra; Zoloft, for the treatment of depression; and Lipitor, for the treatment of hyperl