Even though its growth rate has declined from the hot 18% of 2001 to 10% the pharaceutical industry still had a pretty darn good year in 2004:
in 2004 the U.S. pharmaceutical industry reached the quarter trillion dollar mark for the first time, with $251 billion in product sales
I suspect the industry would prefer the 18% growth rate but there are some pressures holding them back:
According to NDCHealth, four factors have contributed to the overall pharmaceutical market growth decline: generic erosion; safety issues and product withdrawals; increased consumer switching to over-the- counter (OTC) medications and a lack of new blockbuster drugs.
On the other hand market penetration for some drugs appears significant:
-Among all patients receiving a drug in 2004, 10% were on Pfizer’s Zithromax