Indian pharma industry has always been a leading industrial sector of the country, with a paralleled dominance of both domestic and foreign pharma companies. As a result of the vast potential held by the domestic industry, it was estimated to have generated revenue worth INR 655.5 Billion (US$ 13.1 Billion) in FY 2011. Growth of the industry can be attributed to prominent factors, such as growing middle class population, rapid urbanization, increase in lifestyle-related diseases, and increasing issuance of health insurance. Besides, the product patent regime has provided ample support to the industry to sustain its growth pace, despite the global economic downturn. Further, generic is emerging as one of the leading segments to be benefited by many drugs going off patent in due course of time.
According to our new research report “Indian Pharma Sector Forecast 2014”, Indian pharmaceutical industry is projected to show double-digit growth in near future owing to a rise in pharmaceutical outsourcing and rising investments by multinational companies. A large percentage of pharma products produced in India are exported, which has led the leading players to expand their reach into the Western nations. Due to the investments in R&D and the quest for more and more ANDA filings, the clinical trials market is expected to grow at blistering pace in coming years. For comprehensive outlook of the industry, we have done extensive research on various segments of the Indian pharma industry, such as the domestic & export market, branded & generics drugs, formulations & bulk drugs, etc.
The baseline for optimistic future outlook of the pharmaceutical market is improvement in the access to medicines to the Indian population. The focus of the industry will shift towards capitalizing the potential of tier-III and rural areas. Emerging sectors, such as bio-generics and pharma packaging will also pave way for the pharmaceutical market to continue its upward trend during the forecast period (FY 2012- FY 2014).
The report provides thorough statistical and analytical overview of the Indian pharmaceutical market. It contains information about past, present, and future trends, with focus on entire structure, composition, and working of the pharmaceutical market. The report extensively discusses opportunities and challenges expected to arise within and outside the pharmaceutical market. The report also analyzes emerging sectors, regulatory environment, and distribution system to identify strengths and weaknesses of the pharmaceutical market. It has thoroughly examined current market trends, industrial developments, and competitive landscape to enable clients understand the market structure and its progress in coming years. It also presents a brief overview of the demographics and healthcare profile to adjudge the pharmaceutical market in terms of demand, expenditure, and possible future direction.