Indian Pharmaceutical Market to Grow at 12-13% CAGR through 2018, Forecasts GBI Research06 Feb 2013 • by Natalie Aster
The domestic pharmaceutical market in India grew from $8.4 billion in 2006 to $14.1 billion in 2011 and is expected to grow further as Multinational Companies (MNCs) are entering the market. Although pharmaceutical giants such as GlaxoSmithKline (GSK) have been present in the market for years, the rising income of the middle-class population, changing patent laws, low-cost skilled labor and low-priced infrastructure in India have attracted other MNCs.
With the current scenario, the market is expected to grow at a Compound Annual Growth Rate (CAGR) of 12–13% during the 2011–2018 period. Branded generics are expected to become more prevalent in India as many global players are planning to launch them after their patents expire.
New report: “Indian Pharmaceutical Market Outlook - Enhanced purchasing power, rural market penetration and expanded access to healthcare attracting Big Pharma investment” by GBI Research provides an in-depth analysis of the trends, issues and challenges facing the Indian pharmaceutical market.
Indian Pharmaceutical Market Outlook - Enhanced purchasing power, rural market penetration and expanded access to healthcare attracting Big Pharma investment
Published: January, 2013
Price: US$ 3,500.00
The once highly fragmented Indian pharmaceutical industry is undergoing strategic consolidations with the aim of emerging as a highly organized sector. With the inflow of MNCs’ R&D operations the industry will continue to experience a trend of M&A.
Deals and acquisitions are set to continue due to low-cost infrastructure and labor as patent expiries and the thin pipelines of major companies will cause revenues to fall. The Indian government has implemented various initiatives to increase insurance coverage and reduce healthcare costs, such as the National Rural Health Mission and Jan Aushadhi. A revised pricing policy was also proposed in 2011, which will increase government control to over 60% of drugs.
Rising income levels, changing disease patterns, increasing reach of healthcare, reduced out-of-pocket expenditure and growth of new products such as generics and biosimilars are expected to drive growth in the future.
More information can be found in the report “Indian Pharmaceutical Market Outlook - Enhanced purchasing power, rural market penetration and expanded access to healthcare attracting Big Pharma investment” by GBI Research.
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