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Biotechnology sector currently the strongest in the pharma market

The biotech sector has shown rapid growth in the last five years, with global revenues rising from $22.7bn in 2000 to $44.3bn in 2004. This is currently the strongest growth sector in the pharmaceutical market. 47% of industry executives believed that the biotech sector would show an annual growth of greater than 10% over the next five to ten years, while a further 35% of those surveyed indicated a growth rate of 6-10% to be most accurate. Overall, the biotech sector has a more positive outlook than pharma, specialty pharma and generics.

Although the biotech sector remains a relatively small proportion of the total drug market (8% globally in 2004), approximately 27% of new medicines in active development are now biotech products. However, a large proportion of these are in preclinical trials, so there is still a large risk associated with the developments of these compounds.

(www.medadnews.com)

 

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