That’s a lot of zeroes. The pie will continue to grow as we continue to age. The need for new forms of treatment and devices improving health outcomes won’t be slowing down any time soon. However, this growth will be coming from new sources.
The three geographical areas which typically fall under this designation are Southeast Asia, Latin America, and Africa. Each present varying conditions which will create new business opportunities. They share a common trait – despite not being close to equaling the volume of more traditional markets, their growth rate eclipses them.
Let’s put the above figures in perspective. Three countries out of the top five in the graphic above are pharmerging markets – China, Brazil & Mexico. China is already the second largest Life Sciences market in the world, trailing only the United States. While these countries are not there yet in terms of volume, their growth outpaces that of the more mature markets.
This can be attributed to the relative stability of these regions, with legislative changes in recent years welcoming foreign investment and imports. Countries such as Brazil possess a great infrastructure for R&D and production. To boot, a growing middle class with money to spend on medication spurs demand.
It comes as little surprise that Life Sciences is a sector firmly on the rise. While access to healthcare is democratizing across the globe, the growing needs of patients go hand in hand with technological advancements transforming the way businesses operate.
22 October 2019
The language industry consists of segments that move at different speeds and have different sizes. Companies that specialize in a fast-growing and sizeable vertical can enjoy a steady increase in business. For buyers of language services, it makes sense to select a provider with the appropriate portfolio size in their vertical. Those companies will speak […]
6 August 2019
The language industry consists of segments that move at different speeds and have different sizes. Companies that specialize in a fast-growing and sizeable vertical can enjoy a steady increase in business. For buyers of language services, it makes sense to select a provider with the appropriate portfolio size in their vertical. Those companies will speak […]
6 August 2019