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| Pharmaceutical production costs are rising because companies have more hurdles to pass during the testing phase. |
by Lane Hirning
Product Management Director, MasterControl Inc.
Judging by a recent report forecasting future growth, the pharmaceutical industry is thriving despite the recent economic downturn. A market research firm is estimating a 30 percent increase in global medicine spending by 2018, which is great news for the industry (1). The same report cited the anticipated launch of 200 new revenue-boosting drugs within the next five years.
Amid this robust growth, what are some of the things that you can look forward to in the near future? I was asked this question recently. Short of sounding like Jim Cramer of CNBC’s “Mad Money” fame, I picked the following trends as likely to influence pharma in the near term. They all have one thing in common—they reflect the impact of technology on medicine and the health-care process.
Do you agree with my picks? What would you add to the list? Leave a comment for me below.
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