PHARMACEUTICALS MARKETS

ASIA: Japanese pharma market suffers from 'drug-lag'.

The Japanese pharmaceutical market is the second largest and constitutes approximately 13% of the global total but exhibits slower growth than the world average. It is also one of the few high-tech industries in Japan that runs a trade deficit which is currently $3 billion annually.

The market is in a state of 'drug-lag' as it takes, on average, 3.5 years longer for a drug to hit the market than in the USA or Europe. In 2004 36% of the 88 top selling drugs were not available in Japan.

ISP MARKETS

ASIA: Broadband will overtake dial-up in India by 2008-9.

The Internet & Mobile Association of India (IAMAI) estimate that broadband connections will overtake dial-ups in India in 2008-9 and will have a marketshare of 75% in 2009-10.

This growth is driven by the push into small towns by the telecom companies and the increased offering by cable companies of 'last mile' connectivity.

The price of bandwidth has recently fallen by 40% which will be an additional growth driver especially amongst SMEs and internet cafés although home access will also grow significantly.

AUTOMOTIVE MARKETS

EUROPE: Russian car market thrives whilst others stagnate.

The Russian car market has been enjoying a high level of growth whilst those of North America and Western Europe have been stagnating. It is now the 8th largest globally and the 5th largest in Europe.

Key drivers of this growth are the increasing wealth consumer wealth, a burgeoning credit market following liberalisation and the increasing competitiveness and availability of foreign brands; growth has been highest in the domestically produced foreign sector.

As car density in Russia is 180 cars per 1,000 people (compared with figures of 512 and 552 for the UK and Germany respectively) there is capacity for continued growth.