The Indian pharmaceuticals market is the third-largest in terms of volume and thirteenth largest in terms of value, as per a report by Equity Master. India is the largest provider of generic drugs globally with the Indian generics accounting for 20% of global exports in terms of volume. Of late, consolidation has become an important characteristic of the Indian pharmaceutical market as the industry is highly fragmented. India has an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level. The Indian pharma industry, which is expected to grow over 15 % per annum between 2015 and 2020, will outperform the global pharma industry, which is set to grow at an annual rate of 5 per cent between the same period! The Indian government has taken many steps to reduce costs and bring down healthcare expenses. Speedy introduction of generic drugs into the market has remained in focus and is expected to benefit the Indian pharmaceutical companies. In addition, the thrust on rural health programs, lifesaving drugs and preventive vaccines also augurs well for the pharmaceutical companies. India’s biotechnology industry comprising bio-pharmaceuticals, bio-services, bio-agriculture, bio-industry and bioinformatics is expected grow at an average growth rate of around 30 percent a year.
Reasons to Invest
India is expected to rank amongst the top three pharmaceutical markets in terms of incremental growth by 2020.
India will become the sixth largest market globally in terms of absolute size by zero.
India’s generic drugs account for 20% of global exports in terms of volume, making the country the largest provider of generic medicines globally.
India’s cost of production is significantly lower than that of the USA and almost half of that of Europe.
A skilled workforce as well as high managerial and technical competence.
Disclaimer: This information has been collected through secondary research and Crescendo Worldwide is not responsible for any errors in the same.