Advantage India- In Pharmaceutical Market By Rohan chowdhury
The Indian Pharmaceutical Sector has come a long way. Considered to be a
non-existing sector during 1970, it has rose to a prominent provider of
health care products, meeting almost 95% of the country’s
pharmaceutical needs. Currently the Indian Pharma Industry is valued at
approximately $8.0 billion. There are some competitive advantages of
Indian Pharma Industry such as follows:
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The development of cost-beneficial chemical synthesis for various drug molecules is excellent and cost effective.
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With a democratic set up, the country possesses a solid legal framework and strong financial markets. This has helped in establishing a cordial bridge between international industry and business community.
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The international pharmaceutical industry has discovered a wide range of opportunities in India. The process of consolidation, which has become popular in the world pharmaceutical industry, has also taken place in the Indian pharmaceutical industry. The Indian pharmaceutical industry which is worth US $ 3.1 billion is growing at the rate of 14 % annually.
Yes rohan...and moreover many blockbuster drugs like plavix (anti platelet)& singulair (asthma)are about to loose their patent this year..so growth rate is expected to shoot up!
ReplyDeleteNot only this Jibin, Many other molecules are also their.
ReplyDeleteAnother Interesting fact is now Days most of the Indian pharmaceutical companies are exploring to untouched markets like Central & Western Africa and Russia.Which sets the stage...
and According to IPA survey,Indian pharmaceutical Market will reach to $20.73 billion by 2015 with a growth rate of 18-22%.
And in terms of Rank it will be among top 10 markets.
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ReplyDeleteGreat insight guys..! Never knew pharma industry had such a high growth rate.. (14%..!!) It has always been away from the lime light compared to other industries which have had have of its growth rates and dynamism..
DeleteI had attended a meet where Mrs. Shaw, Biocon figurehead was talking about policy paralysis and stressing on the PPP (Public Private Partnership) model to sustain and develop the pharma scenario in India.What are your views on this..?
Rohit Bengani