Aging population to help drive increase in worldwide pharmaceutical growth

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The value of the global pharmaceutical market is expected to grow by 5% to 7% next year, according to IMS Health. Investigators noted that an aging worldwide population will help the market hit a projected $880 billion next year. This uptick will occur despite major patent expirations, as well as aggressive payer mechanisms to limit spending, the report notes. The 2011 forecast covers all types of pharmaceuticals and also considers macroeconomic conditions, changing levels of patient access, availability of drug treatment options and pricing factors.