Year end analysis of global sales 1998            Page 1 of 3 >> The World Market The world-wide pharmaceutical market is worth 307 bill($) in 1998 according to IMS HEALTH’s market estimate in Pharmaceutical World Review, a year end analysis of the sales dynamics of the pharmaceutical market. This represents a 3.6% increase over last year. The USA market continues to drive the growth with an 11% increase, while Europe grew at 4.6%. Australasia, Africa, and Asia (A/A/A) declined by -6.8% and Latin America recorded a slight increase of 2.2 %. Based on the IMS Health audited sales channels used in Pharmaeutical World Review there were notable performances from individual countries. In Europe, Poland sustained strong growth of 44% at constant exchange rates, Sweden and Czech Republic grew at 16% and Ireland at 15%. In A/A/A the economic crisis and currency devaluation have taken their toll. At US$ exchange rates, Korea, Thailand and Indonesia all experienced a decline in excess of 30%. Without the exchange rate fluctuations, Korea grew 4%, Indonesia 33%, Thailand -15% and Japan -1%. US$ Growth of top ten markets based on market estimates Latin America suffered similar economic problems and this had an adverse affect on Brazilian 1998 sales, which declined -5%, conversely Argentina the second largest market grew 6%. 1998 Pharma Market Estimates Billions($) For full explanation of figures and collection methods see Data Value and definitions Year end analysis of global sales 1998: Page 1 of 3 >> Other reports: Select Generics Asthma Nifedipine Osteoporosis Global Forecast Global Sales'98