Abbott records positive growth in emerging economies

Abbott records positive growth in emerging economies

More health-conscious consumers in emerging economies are driving sale for Abbott products.

Global leading healthcare company – Abbott recorded an 11-percent sale increase in Nutrition and Diagnostic divisions for 2013 in emerging markets, according to its annual report released in March 2014.

Sales in the pharmaceutical segment in 14 key emerging markets increased 6.3 percent in 2013.

The company also recorded a four-percent total sale increase over 2012, topping about US$21.8 billion in which emerging markets account for 40 per cent of the revenues.

Seventy-percent of the sale was generated outside the US.

The figure came at the time as many of these emerging countries recorded slower economic growth last year and a weakening of key emerging market currencies.

However, consumers in these countries are now more willing to pay for healthcare products and services, especially those packed with high-end technology.

In 2013, Abbott launched 60 new products in the high-end category.

Growth rate in emerging economies are expected to grow nearly 6 per cent in 2014, compared with 2 per cent for developed countries.

Song Thao

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