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Pharma industry in India
1Domex Business Information Pvt Ltd, Chennai, India.
Drug News & Perspectives
|February 28, 2008
Summary
The Indian pharmaceutical industry is a global leader in producing affordable generic drugs, with significant growth projected. Its strengths in cost, expertise, and raw material production position it for continued expansion in the world market.
Area of Science:
- Pharmaceutical industry
- Drug manufacturing
- Global market analysis
Background:
- India is a major global player in the pharmaceutical sector, ranking fourth in volume and 13th in value.
- The Indian generic drug market holds a 14% share of the global market, with significant future growth anticipated.
Purpose of the Study:
- To analyze the strengths and growth potential of the Indian pharmaceutical industry.
- To highlight key factors contributing to India's success in generic drug production.
Main Methods:
- Market share analysis
- Industry capability assessment
- Future market projection based on industry trends
Main Results:
- Projected increase in India's global generic market share to 50% by 2010.
- Anticipated growth of the Indian pharmaceutical market to USD 20 billion by 2015, positioning it among the top 10 global drug markets.
- Introduction of key generic drugs, including carvedilol, allopurinol, verapamil SR, and paclitaxel, by leading Indian companies.
Conclusions:
- India's pharmaceutical industry leverages cost competitiveness, reverse engineering expertise, skilled workforce, and raw material production capabilities.
- Strategic initiatives like integrated drug development and international market expansion are driving the industry's growth.
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