Indian Bio Pharma Market to Gain Traction at 13.6% CAGR through 2022, Expects Netscribes in Its New Report Recently Added at MarketPublishers.com16 Aug 2017 • by Natalie Aster
LONDON – Historically, the Indian biopharmaceuticals market increased at a 15.7% CAGR. It is predicted to gain traction at a 13.6% CAGR over 2017-2022.
With a great chunk of the country’s population falling under the senior citizen category, the need for different healthcare services as well as pharmaceutical products (including biopharmaceuticals) is anticipated to increase in India in the coming years. Besides, on the back of the increased life expectancy, this population category is likely to expand further in the years ahead. The increasing disposable income of local population also drives growth of spending on medicines. Moreover, enhancing health awareness in the country is resulting in early detection of different health disorders.
Still, the Indian bio pharma market faces certain challenges. The lack of regulatory clarity is the major of them. Moreover, the regulation of biopharmaceuticals in the country is inefficient and complex owing to the involvement of numerous agencies and committees in the review and approval process. Intensifying competition from other Asian countries also acts as a challenges to India’s bio pharma market growth.
However, despite the fierce competition from other countries in the region, the Indian biotechnology industry has attracted major investments from some global companies owing to the country’s strong generic biotechnology potential. Moreover, India is recognised worldwide as a preferred outsourcing destination for contract research and manufacturing services.
The new research study “Bio Pharma Market in India 2017” worked out by Netscribes (India) Pvt. Ltd. provides a reliable, comprehensive overview of the Indian bio pharma market. It covers the historical background and the current market scenario, uncovers important qualitative and quantitative data on the market performance, discusses the major market trends, drivers, barriers, opportunities and challenges. Besides, this report contains details on the competitive environment, regulative framework, the leading domestic market participants and the latest industry developments. In addition, future forecasts of the Indian bio pharma market development up till 2022 are at hand in this publication.
Many other reports by this publisher are offered in Nescribes catalogue.