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Article: According to the World Trade Organization's "World Trade Report 2005," global trade in pharmaceutical products increased at an average annual rate of 23% between 2000 and 2003, reaching $200 billion in 2003.(Pharmaceuticals)
- Article from:
- Instrument Business Outlook
- Article date:
- July 31, 2005
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Pharmaceuticals: According to the World Trade Organization's "World Trade Report 2005," global trade in pharmaceutical products increased at an average annual rate of 23% between 2000 and 20003, reaching $200 billion in 2003. North America, Western Europe and Japan are responsible for over 80% of world pharmaceutical imports and 90% of exports. Six factors have contributed to the expansion of global trade in pharmaceuticals. First, pharmaceutical sales rose almost 50% from 2002 to 2003. Second, pharmaceutical companies concentrated their operations and increased specialization, leading to more shipments between ...
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