Saturday, 19 October 2013

Indian Pharma Sector India's pharmaceutical sector is gaining its position as a global leader

Indian Pharma Sector India's pharmaceutical sector is gaining its position as a global leader, poised to grow from US21.7 currently, to US$ 36.7 billion by 2015. A PricewaterhouseCoopers (PwC) report says it could touch US$ 74 billion by 2020. This is in league with Indian Government's Pharma Vision 2020 which aims at making India a global leader in end-to-end manufacture by 2020, and is planning to set up US$ 640 million VC to boost drug discovery and strengthen the pharmaceutical sector. The Indian Pharma sector produces 600 Generic brands, 600 therapeutic categories, and manufactures more than 500 different APIs. While Generics continue to dominate the market; patent-protected products are expected to constitute 10 per cent of the pie till 2015. Several multinationals are already set to launch patented drugs across India. The demand for high end drugs in rural India is estimated to grow to US$ 8 million by 2015, wherein 70% of India's populace resides. Efforts are being made to reach chemists and OTC drugs to the rural populace through expanding networks. The clinical trials market was US$ 400 million in 2009 and India is expected to remain a valuable investment hub due to its genetically diverse population and availability of skilled doctors. In field of health insurance, 650 million people are expected get health insurance cover by 2020, painting a rosy picture of the Indian Pharma Industry as a whole.

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