IMS Health's annually published Market Performance Review reported its biopharmaceutical market figures this month for 2007. They state that global pharma sales reached a record $712 Billion, up 6.4%, with U.S. sales, which constitutes 40.2% of the overall market, at $286.5 Billion, up only 3.8%, contributing only 25% of the global growth, the lowest fraction ever, and the slowest growth rate here since 1961. They attribute this modest growth to patent expirations,  more generics, (now 65.7% of overall pharmaceutical sales), fewer and more narrowly focused novel medications, closer scrutiny over safety issues, and lack of new product launches.

European sales were $221.6 Billion with the largest growth in Russia, (20.2%) and Turkey (17.2%).

Japan rose 3.6% in 2007 to 65.2 Billion and the rest of Asia (excluding Japan but including Australia and New Zealand) continued its strong growth, up by 13.3%, at $78 Billion (11% of the global market). This was followed closely by Latin America, up 11.6% to $11.1 Billion.

Globally, Biotechs grew at 9% while specialties grew at 10% and oncology drugs at 14%.

IMS projects a compounded growth rate between 3-6% through 2012.