BMI View: We are relatively optimistic about the longer-term performance of the UK’s pharmaceutical market, on account of rising demand for services and treatment, stimulated by factors such as an ageing population and increased health awareness. However, over the five years to 2017, we project that the market will decline in value terms, because of patent expirations and various cost-containment measures that include cost-effectiveness assessment of expensive treatments. Still, high per capita consumption of patented medicines, risk-sharing agreements with manufacturers and an increase in access to services are expected to provide positives for multinationals involved in the country. Headline Expenditure …
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