Abstract

BRICS- AN EMERGING NATIONS AND ITS RECENT PHARMACEUTICAL OUTLOOK (2015)

Dr. R. Suthakaran*

Abstract

BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. The grouping was originally known as "BRIC" before the inclusion of South Africa in 2010. The BRICS members are all developing or newly industrialised countries, but they are distinguished by their large, fast-growing economies and significant influence on regional and global affairs. All the BRICS countries holding the potential market and expect to grow in steady rate, the details are, Brazil’s pharmaceutical market = $26.4 billion in 2013, Growth rate = 6.4 percent annually in 2014-2018. Russia’s pharmaceutical market = $17 billion in 2013, Growth rate = 10 percent annually in 2014-2018. India’s pharmaceutical market = $18.3 billion in 2013, Growth rate = 10.3 percent (in local currency terms) annually in 2014-2018. China’s pharmaceutical market = $83.3 billion in 2013 Growth rate = 6.4 percent annually in 2014- 2018. South Africa’s pharmaceutical market = $3.9 billion in 2013, Growth rate = 6 percent annually in 2014-2018.

Keywords: BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.