India Generic Drugs Market to Expand through 2020, Informs Netscribes in Its In-Demand Topical Report Available at MarketPublishers.com
23 Aug 2017 • by Natalie Aster
LONDON – In India, the demand for generics is anticipated to gain momentum in the coming years as local patients tend to shift from expensive branded drugs to the lower priced generics.
Different initiatives introduced by the country’s government to promote the usage of generics instead of branded drugs also gives a positive impetus to the growth of the Indian generics drugs market. Opening of a great number of Jan Aushadhi stores in different regions of India is making generics more accessible for the country’s population. Furthermore, in July 2016 the Indian government issued a proposal for the local physicians, according which they would have to mention generic drugs instead of branded drugs, this also will likely boost the Indian generic drugs market growth.
The low manufacturing costs in India enable the domestic companies to manufacture generic drugs at costs lower than the cost of products manufactured by companies active in regulated markets. Therefore, this has opened a great export opportunity for the Indian companies. Today, the US is one of the top importers of generic drugs manufactured in India.
However, the recent regulatory warnings from foreign regulatory bodies (like USFDA) regarding lapses in generic drugs quality and not adhering to stipulated manufacturing standards have resulted in a negative perception of the Indian generics. In view of this, given the importance of these exports markets, the Indian generic drugs industry is taking measures to remove such negative perceptions.
In-demand topical report “Generic Drugs Market in India 2017” drawn up by Netscribes presents a clear picture of the present scenario in the Indian market for generic drugs. This report touches upon the historical development patterns, examines the market dynamics, covers the main influencing factors and highlights prevailing trends. Moreover, this study comprises vital data on the market segments, competitive landscape, top players, exports dynamics, the most recent industry developments and product launches. Besides, the report reviews the key challenges and opportunities, provides trade analysis of the major pharmaceutical products in the country and offers a future outlook for India’s generic drugs market till 2020.
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