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Future trends of Indian Pharma Industry

Conventionally, the Indian pharmaceutical industry has been depended on a core competency in generics, manufacturing and comparatively unripened potentialities in Research & Development. This prospect has overhauled considerably since the 1990s and Indian companies have been making investments towards nourishing drug discovery and development activities.

The adoption of patent laws and the surge of contract manufacturing have preceded to the diversification of revenue streams, altering Indian pharma industry to go across high market growth.

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Factors for the growth of Indian Pharmaceutical Industry

The pharmaceutical industry in India is highly formulated sector. It plays an important role in promoting and sustaining development in the field of global medicine. India’s homegrown pharma industry turns towards world’s generic medicines, is expected to grow at a CAGR of 14.2 percent to 230,000 Cr by 2015-16, the expected growth rate for exports driven by contract research was estimated at a CAGR of 16.2 percent, while the domestic market growth rate was at 12.50 percent.

Industry Trends:

  • The pharma industry generally grows at about 1.5-1.6 times the Gross Domestic Product growth
  • In a recent past, India exported drugs worth US$7.2 billion in to the US and Europe followed by Central and Eastern Europe, Africa and Latin America.
  • The Indian vaccine market which was worth US$665 million in 2007-08 is growing at a rate of more than 20%.
  • The retail pharmaceutical market in India is expected to cross US$ 12-13 billion by 2012.

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