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Indian Formulations Market to Perform Outstandingly in FY 2010: RNCOS
Apr 21, 2010
The Indian pharmaceutical industry has been witnessing prodigious growth over the last few years. According to our latest research report “Booming Pharma Sector in India”, the industry is projected to continue growing further at a CAGR of around 13% during FY 2011-FY 2013. The formulations industry is expected to prosper parallel to the pharmaceutical industry. It is expected that the domestic formulations market in India will grow at an annual rate of around 17% in FY 2010, owing to increasing middle class population and rapid urbanization. Our report evaluates various potentials of the formulations industry, both in terms of domestic turnover and exports, for the coming years.
The growth of the formulations industry will mainly be driven by the increasing penetration of the health insurance in the country and the rising incidences of lifestyle diseases in the country which has been possible due to growing working class population in the country. Further, the consolidation in the industry triggered by product patent regime has improved the pricing power in the industry. According to our research, increase in drug prices account for 3-4% growth in the domestic formulation industry.
Our research indicates that the Indian pharmaceutical market shows immense growth potential due to the growth of the pharma outsourcing industry and the bioinformatics industry. Further, various factors such as growing healthcare spending and growth in the obligatory and voluntary insurance schemes have been resulting into the increasing usage of high-priced drugs in the country. In addition to this, infectious diseases are on the rise and India has transformed itself as a conducive environment for clinical trials, which will further pave the way for the growth of its pharmaceutical industry. Our research unfolds various other drivers that would safeguard and promote the further growth of the industry.
Our report “Booming Pharma Sector in India” provides an extensive research and rational analysis along with reliable statistics of the Indian pharmaceutical industry. The report provides a thorough statistical and analytical overview on the Indian pharmaceutical market, and provides past, present and future data on the entire 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. The report also elaborates the emerging sectors and regulatory environment and presents prudent analysis of the distribution system in the pharmaceutical industry.
For more information visit: http://www.rncos.com/Report/IM131.htm
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