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India – An Emerging Pharmaceutical Export Hub, Says RNCOS
Aug 25, 2008
India has emerged as one of the world’s most potential destinations for pharmaceutical exports, with the country exporting drugs worth US$ 7.2 Billion in 2007-08, according to a new research report, “Booming Pharma Sector in India”, by RNCOS.
The research says that the Indian pharmaceutical companies hold a very strong competitive advantage in drug manufacturing over their western counterparts in terms of cost of production and reverse engineering skills. The cost of manufacturing both bulk drugs as well as formulations in India is around 10%-20% of the cost it takes in the west. Moreover, many Indian manufacturers have upgraded their manufacturing plants, enabling India to have one of the highest numbers of plants certified by the FDA, EDQM and various other regulatory agencies. This has made Indian companies to venture into highly regulated but lucrative markets of northern America and Europe.
The US and Europe remains the biggest export destinations for Indian generic manufacturers. However, Indian companies are also increasing their presence in emerging markets such as those in Central and Eastern Europe, Latin America and Africa, owing to lower competition and low entry barriers.
The report forecasts that pharmaceutical exports from India will grow at a CAGR of 18.5% between 2007-08 and 2011-12. This growth will be in particular driven by multibillion dollar patent expirations and growth in the global generics market. In addition, stringent price control norms in the Indian market are turning manufactures to exports in order to reap better margins.
“Booming Pharma Sector in India” contains unique market-based research and provides detailed and objective analysis on the Indian pharmaceutical market. It presents a thorough statistical and analytical overview on the Indian pharmaceutical market, and provides past, present and future data on the structure, composition and working of the Indian pharmaceutical market. The research extensively discusses the opportunities and challenges that are expected to arise within and from the pharmaceutical market.
For more information visit: http://www.rncos.com/Report/IM131.htm
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