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Pharmaceuticals and Biotechnology

Industry Outlook

Thomson Reuter’s CMR International Pharmaceutical R&D Factbook reports that global drug sales reached $1 trillion for the first time in 2014 and forecasts growth to $1.3 trillion by 2018. Drug sales in the United States are projected to grow from $395.2 billion in 2014 to $584.4 billion by 2020, according to research and consulting firm GlobalData, reversing a period of decline from 2009 to 2013. Revenue is growing as a result of aging populations, the increasing prevalence of chronic lifestyle diseases such as diabetes, and improving availability of reimbursement for drugs and medical treatments. 

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