The market size can easily exceed US$7 billion by 2021 in Pakistan as incomes increase and the health expenditure as percentage of GDP increases (currently around 1% -govt expenditure} US$7/8 per capita spending). Industry sources report that the potential in this market is huge. Over the recent years, the local industry has experienced impressive growth (15% double digit) as compared to multinationals in the local market. The local manufactures comprise 70% of this share and the multinationals account for the remaining. TEXT: The size of the local pharmaceutical market is around US$ 4.5 billion.
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