Pharmaceuticals

Global Pharmaceutical Market Moving Toward $1 Trillion

By Mike Henley

MARKETS PHARMACEUTICALS

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Abstract

The world pharmaceutical market is expected to exceed $880 billion this year (1), and be moving to exceed $1 trillion by 2014 (2). The pharmaceutical industry has long been a major business in the United States and Western Europe. However, growing Asian economies are seeing the industry shift toward China, India, and Singapore. However, the United States remains the top market as the pharmaceutical and other healthcare industries were estimated to be about 15% of the nationοΎ’s gross domestic product (GDP) (3). Pharmaceutical water is a major high-purity water market. Pharmaceutical water is produced according to standards set by the Water Committee of the United States Pharmacopeial Convention Inc. It is used as an ingredient and in the production processes used to make pharmaceutical to products, as well as in some consumer products and healthcare devices. Aspects of the pharma water market include treatment systems, disinfection and sterilization equipment, microfilters, ultrafilters, membranes, and water distribution systems and storage tanks. The economic health of the industry, and business trends are important to future water business opportunities. This article draws from different sources to examine the current state of the industry.

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