Dr. Mike Schäfers, West Pharmaceutical Services, stresses the importance of “local insight” when establishing a presence in new growth markets.
Emerging markets have played an increasingly important role in global pharmaceutical business strategies for the past decade. For many leading companies in the industry — ranging from drug manufacturers to packaging and administration systems providers — these markets have already proven to be an important area of growth. Market forecasts predict rapid growth rates for these regions for the coming years, providing significant sales opportunities for the predominantly Western-based pharmaceutical industry.