Driven by numerous factors including increasing health care expenditure, large population base, patient demographics, and rising life expectancy, India’s pharma industry is expected to touch the pinnacle of success in near future. All these factors are foreseen to take the Pharmaceutical Industry of India to a new horizon with an anticipated growth of CAGR at around 15% during 2012-2015.
According to a latest research report by RNCOS, "Asia-Pacific Pharma Sector Analysis", India Pharmaceutical Market is growing tremendously on the back of its low-cost production and countinuous improvement through R&D. Indian pharmaceutical companies are not only catering to the domestic market but also alluring foreign market. Besides, the country’s pharmaceutical industry has claimed a significant share in Asia-Pacific market by leveraging its strengths and enhancing its regulatory norms.
Further, according to our analysis, changing regulatory environment, increasing disposable income, rising prevalence of lifestyle diseases, and significant developments in the field of contract manufacturing are also driving the pharmaceutical market of Asia-Pacific region.
On studying the pharmaceutical market in various countries, we observed that mature markets of Japan and Australia are experiencing slower growth rates, while emerging as new market leaders, China and India are enjoying investments by foreign pharmaceutical companies.
The western countries are facing the issue of poorly defined regulatory pathways and a few Asian countries are well positioned to benefit from these changes, attracting huge investments by generic companies.
The report also finds that the growing market for vaccines and medical tourism is providing a new dimension to the region’s pharmaceutical industry. Besides, though Asia-Pacific is emerging as a right destination for drug-related research, the region lacks IPR regime.
Our report includes research on the following countries in the Asia-Pacific region including Japan, China, India, South Korea, Malaysia, Thailand, Indonesia, Vietnam, Philippines, Australia, and New Zealand. It also provides in-depth information about regulatory environment and key market players in each country. This way, our research depicts a fair picture of the industry to clients.
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Some of our Related Reports are:
- Global Telemedicine Market Analysis
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- Booming Clinical Trials Market in India
Check Related REPORTS on: http://www.rncos.com/Healthcare_Industry.htm