According to Research and Markes report "Global Pharmaceutical Industry 2013-2018" the global pharmaceutical industry revenue is forecasted to reach an estimated $1,226.0 billion by 2018, with growth over the next five years.
Partnerships are extending across the entire life cycle of a drug, Flochel notes, from precompetitive collaborations related to elucodating targets all the way to commercial relationships that leverage a partners's marketing network. They run the gamut from deeper ties with academic institutions- such as Biogen Idec's new academic consortium to identify treatments for amyotrophic lateral sclerosis-to more pacts with biotech companies and consortia with governments, nonprofits, and other drug firms.
Global market for the Pharmaceutical industries is fast growing and the IVA (industry's value added) which measures the industries contribution to the overall economy. This was anticipated to grow at an annualized rate of 2.8% for the past 10 years. They are creating huge opportunities for the sponsors and exhibitors by providing interaction with various stakeholders to promote their product and services. The sales of drug-device combination products were reached $21.4 billion in 2013 and $22 billion in 2014. This is expected to grow up to £31 billion in 2019, with a compound annual growth rate (CAGR) of 7.1%.
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