NAPSR News: Expected Growth in Pharmaceutical Sales Throughout 2016

Based on industry analysis, the emerging healthcare market will experience a continuous growth in the pharmaceutical sales sector.
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WASHINGTON - July 2, 2014 - PRLog -- Over the past 25 years, prescription drug use has grown significantly, as the increased availability of better and cost-effective new medicines has changed health care practice to focus more on prevention and treatment of a growing range of illnesses with pharmaceuticals.  Pharmaceutical sales are also expected to continue their growth throughout 2016.  Growth in annual global consumer spending is forecast to more than double by 2016 to as much as $70 billion, up from a $30-billion pace in 2012, driven by volume increases in pharmaceutical companies merging in particular markets, as well as some uptick in spending in developed nations.

In addition, despite expiring patents, spending in the US will grow between $35 billion and $45 billion during the next five years, representing an average annual growth rate of 1-4%.  These trends are related to new products and technologies hitting the market, more people taking prescription medicine, an aging population, as well as a longer living population.

With the growth in sales, pharmaceutical companies are on the lookout for qualified candidates to fill these sales positions.  The National Association of Pharmaceutical Sales Representatives (NAPSRx®) has developed a program to educate candidates so that they will be able to differentiate themselves from other candidates competing for the same position.  The majority of entry level candidates do not know enough about the pharmaceutical industry, drug patents, FDA regulations, CDER regulations, laws governing the pharmaceutical industry, the anatomy, pharmaceutical terms and abbreviations, drug sampling rules, effective physician selling skills, who to contact at pharmaceutical companies, general interview questions, etc.

The NAPSRx® Career Center also lists numerous pharmaceutical companies that applicants can research and contact for positions that are available in the field.

If you are interested in a career as a pharmaceutical sales representative, please contact the National Association of Pharmaceutical Sales Representatives directly at 800-284-1060.

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Page Updated Last on: Jul 02, 2014
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