1. Latest News
  2. Submit Press Release

Market Report, "United States Pharmaceuticals & Healthcare Report Q2 2011", published

Recently published research from Business Monitor International, "United States Pharmaceuticals & Healthcare Report Q2 2011", is now available at Fast Market Research

April 28, 2011 - PRLog -- The value of the US pharmaceutical market is unrivalled globally. Having been worth some US$319bn at  consumer prices in 2009, we expect modest annual growth in 2010, primarily as the effects of price rises  wear off and as generic competition erodes sales values. In the 2009-2014 period, we forecast a  compound annual growth rate (CAGR) of 0.55% for the overall market, dragged down by the 1.52%  CAGR decrease in the value of the patented segment, which currently represents over 70% of the total  market in value terms.  In the meantime, performance of the over-the-counter (OTC) medicines will remain shaped by the  economic slowdown, which has led us to revise downwards our 2010 and 2011 real GDP forecasts, to  2.6% and 1.6%, respectively. This will also mean lower funds available for the expansion of federal  insurance programme, as envisaged. Additionally, the dollar-euro chart has been shaping up for a  potentially significant bounce in favour of the US dollar, which may discourage pharmaceutical exports.  Nevertheless, the sheer size of the US pharmaceutical market will ensure that it remains placed first -  both regionally and globally - in BMI's Pharmaceuticals & Healthcare Business Environment Rating  (BER) updates for time to come.  However, a worrying trend has emerged. According to a recent study by Wolters Kluwer, an increasing  number of patients are leaving their prescriptions unfilled, as they are unable to meet the costs of  medicines or insurance co-payments. Commercial health plan patients abandoned new prescriptions at the  pharmacy at a rate of 6.3% in 2009, up 24% over 2008, with the rate of abandonment of branded  medicine prescriptions also significantly higher than in the overall prescription market. Similarly, an  August 2010 telephone survey of more than 2,000 US citizens, conducted by Harris Interactive on  behalf of Merck & Co, found that more than a third of those who are uninsured and unemployed either  decided not buy or refill the medicines they were prescribed, cut their dosage in half or took expired  medicine as a way of saving money.  According to recently published research by the US Committee on Energy and Commerce, healthcare  insurance coverage denials for US citizens with pre-existing health conditions increased by almost 50%  from 2007 to 2009, while applications for enrolment increased by only 16%. On a positive note, however,  the Affordable Care Act prohibits health insurers from refusing coverage based on the patient's medical  history, which should provide support for the continuing development of both pharmaceutical and  healthcare industry revenues. Insurers are also to be prohibited from charging higher premiums or exclude  coverage for medicines or treatments for pre-existing conditions. For children, this provision becomes  effective for policies issued on or after September 23 2010, although the new legislation will only take  effect on January 1 2014 for all other groups.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/149698_united_states_pharmaceu...

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at http://www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

# # #

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

--- End ---

Click to Share

Contact Email:
***@fastmr.com Email Verified
Source:Fast Market Research
Location:Massachusetts - United States
Industry:Health, Medical, Research
Tags:Pharmaceutical, Medicine, Healthcare, Prescriptions, Health, Insurance, Globally, Patients, Conditions, Medicines
Verified Account Email Address
Verified Account Phone Number

Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “


Trending News...

Like PRLog?
Click to Share