One of the principles that underlies all of our work is that a text can’t be adequately translated unless it’s adequately understood. We apply that to all projects, regardless of size or sector, but if there’s one Wolfestone client group that values this attention to detail above all others, it’s our pharmaceutical industry clients. Clients who use our services in this sector typically need a pinpoint-accurate representation of clinical language. Mistakes could have measureless consequences, and as the market continues to expand the stakes grow progressively higher.
Industry forecasters predict that the global drug market will advance from its current size of $900 billion to approach $1 trillion by the end of 2012, and this growth is being powered by emerging economies. IMS Health, an industry data specialist, has identified 17 emerging markets in which pharmaceutical sales are growing at a rate of between 15 and 25 per cent year on year. This makes a striking contrast with English speaking bastions Canada and the USA, which are currently experiencing annual growth of a more modest 1-2 per cent.
The BRICS nations – Brazil, Russia, India, China and South Africa – are, not surprisingly, leading the surge in demand. Markets in Mexico, Pakistan, Vietnam and Indonesia are also growing dramatically. The requirement for accurate translations often begins with patent documents needed to secure intellectual property rights for new products and procedures. Wolfestone clients typically require translations of detailed product specifications, and subsequent promotional work will include localization of websites, brochures, and a wide range of marketing materials. As well as focusing on the cultural aspects of localisation, our pharmaceutical clients need first and foremost to satisfy stringent regulatory requirements. It’s a challenge that we’re delighted to help them meet.
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