The seven emerging global economies - Brazil, China, India, Indonesia, Mexico, Russia and Turkey - could account for one-fifth of global drug revenues by 2020. China alone may be the second, or third, biggest market in the world, a PricewaterhouseCoopers (PwC) study released on Wednesday said. The international consultancy predicted worldwide sales of pharmaceuticals to double to $1.3 trillion by 2020, driven by ageing populations, rising levels of obesity and a surge in demand from emerging markets.The study calls the current business model of the global pharmaceutical companies "economically unsustainable and operationally incapable" and suggests fundamental changes in its operations to tap the future growth opportunities. Sujay Shetty, associate director, Pharmaceutical and life sciences practice, PwC said: "India is likely to be in the top 10 of pharma markets of 2020. Any company that wants to serve the Indian markets successfully will have to devise strategies that are tailored to individual needs."
