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Alan Sheppard, Principal, Global Generics at IMS Health and CPhI expert panel member, discusses generic medicine opportunities in the 2016 CPhI Annual Industry Report.
The generic medicines market has been a fast-growing segment of the overall pharmaceutical market, and the future looks positive, with “significant opportunities across a wide range of therapies” and in the “pharmerging markets,” said Alan Sheppard, Principal, Global Generics at IMS Health and CPhI expert panel member, in the 2016 CPhI Annual Industry Report.
Developed markets focus on specialty generic drugs in oncology and autoimmune disease, as well as traditional diabetes therapies. In addition, the viral hepatitis market “has sprung from a low base to a major contributor in a very short space of time and is expected to continue to grow,” noted Sheppard. Pharmerging markets, however, are focused on older products for treatment of infection, pain, cardiovascular disease, and other chronic primary-care indications. “For the pharmerging markets, affordability and access to medicines are key influencers, and with the expansion of the availability of clinical support and insurance schemes, we have seen new market opportunities open up for these older medicines,” wrote Sheppard.
According to an IMS Health 2015 report predicting the 2019 market, antibiotics and pain medicines will be the top two sales areas in pharmerging markets, and oncologics and diabetes therapies will be the top two sales areas in developed countries. The availability of generic anti-diabetic therapies in both developed and pharmerging markets “will play a vital role in the cost effective management of this chronic indication,” said Sheppard.
IMS Health forecasts a compound annual growth rate (CAGR) of 6.9% through 2019, but each geographic region has specific needs and opportunities, said Sheppard. The Asia/Australasia region has the highest volume, but North America is the most lucrative. Japan is quickly moving towards the country’s government objective of 80% generics in multi-sourced drugs. In Europe, price controls and increasing competition adversely affect the market, concluded Sheppard.
Source: 2016 CPhI Annual Industry Report