Hospital Pharmacy Market in India 2023
India is expected to witness a remarkable rise in healthcare infrastructure in upcoming years. There will there be a dramatic rise in the type and size of hospitals both Government operated and privately operated. As a result, Indian hospital pharmacy market is expected to witness healthy growth rates.
As per NAVADHI Market Research, the Indian hospital pharmacy industry will we worth USD 9.48 billion and will have a market share of 28.56% in India’s pharmaceuticals market by 2023. The growth in this market is predicted on the basis of various factors like market drivers, current and upcoming trends, current growth pattern, and market challenges.
This growth is fueled by the growing and ageing population in India. More than 6% of Indian population is above 65 years of age and this number is expected to rise by 2023. Apart from ageing and rising population the improvements in purchasing power and access to quality healthcare and pharmaceuticals to poor and middle-class families is also driving the growth of Indian pharma industry. Indian people spend 64.21% of their health expenditure from out-of-pocket of which pharmaceuticals spend accounts for 51.67%. Hospital pharmacy stores are located within hospitals which enables easy accessibility to patients as they supply time-sensitive medicines for critical care. Hospital pharmacies also allow hospitals to provide quality medicines to patient by purchasing directly from drug manufacturers thus avoiding the problem of counterfeit medicines.
On the other hand, Government operated Jan Aushadhi Kendra (pharmacy stores), brick and mortar pharma retail stores and online pharmacy stores are expected to give tough competition to hospital pharmacies which can affect their profit margins.
Also aggressive drug price control mechanism like Government mandated drug price controls using drug price control order (DPCO) which is an order issued by the Government of India under Section 3 of the Essential Commodities Act, 1955 empowering it to fix and regulate the prices of essential bulk drugs and their formulations have increased margin pressure for pharma retail companies in India.
Spanning over 48 pages and 23 exhibits, “Hospital Pharmacy Market in India 2023” report provides in-depth analysis for the Indian hospital pharmacy market for the year FY2018 to FY2023, including market structure, market trends, market constraints and industry drivers.
Scope of the Hospital Pharmacy Market in India 2023 Report
As per NAVADHI Market Research, the Indian hospital pharmacy industry will we worth USD 9.48 billion and will have a market share of 28.56% in India’s pharmaceuticals market by 2023. The growth in this market is predicted on the basis of various factors like market drivers, current and upcoming trends, current growth pattern, and market challenges.
This growth is fueled by the growing and ageing population in India. More than 6% of Indian population is above 65 years of age and this number is expected to rise by 2023. Apart from ageing and rising population the improvements in purchasing power and access to quality healthcare and pharmaceuticals to poor and middle-class families is also driving the growth of Indian pharma industry. Indian people spend 64.21% of their health expenditure from out-of-pocket of which pharmaceuticals spend accounts for 51.67%. Hospital pharmacy stores are located within hospitals which enables easy accessibility to patients as they supply time-sensitive medicines for critical care. Hospital pharmacies also allow hospitals to provide quality medicines to patient by purchasing directly from drug manufacturers thus avoiding the problem of counterfeit medicines.
On the other hand, Government operated Jan Aushadhi Kendra (pharmacy stores), brick and mortar pharma retail stores and online pharmacy stores are expected to give tough competition to hospital pharmacies which can affect their profit margins.
Also aggressive drug price control mechanism like Government mandated drug price controls using drug price control order (DPCO) which is an order issued by the Government of India under Section 3 of the Essential Commodities Act, 1955 empowering it to fix and regulate the prices of essential bulk drugs and their formulations have increased margin pressure for pharma retail companies in India.
Spanning over 48 pages and 23 exhibits, “Hospital Pharmacy Market in India 2023” report provides in-depth analysis for the Indian hospital pharmacy market for the year FY2018 to FY2023, including market structure, market trends, market constraints and industry drivers.
Scope of the Hospital Pharmacy Market in India 2023 Report
- This report provides detailed information about Indian hospital pharmacy market including future market forecasts up to 2023.
- This report identifies the need for focusing on Indian pharmaceuticals market.
- The report identifies the growth drivers and inhibitors for Indian hospital pharmacy market.
- This report provides information about policies related to pharmaceuticals industry in India.
- This report provides information about industry associations and government bodies related to Indian pharmaceuticals industry.
- The report identifies various risks associated with Indian hospital pharmacy market.
- This report provides PESTEL (political, economic, social, technological, environmental and legal) analysis for Indian hospital pharmacy market.
- This report provides Porter’s Five Forces analysis for Indian hospital pharmacy market.
- This report provides SWOT (strengths, weakness, opportunities and threats) analysis for Indian hospital pharmacy market.
- This report provides information about future trends in Indian hospital pharmacy market.
1. EXECUTIVE SUMMARY
Scope of the Hospital Pharmacy Market in India 2023 Report
Research Methodology
2. INTRODUCTION OF INDIAN PHARMACEUTICALS MARKET
Key Product Terms Used in Pharmaceuticals Industry
Pharmaceuticals
Innovative Drugs
Orphan Drugs
Generic Drugs
Commodity Generic Drugs
Branded Generic Drugs
Biologics
Biosimilars
Over-the-counter (OTC) Drugs
Active Pharmaceutical Ingredients (APIs)
Excipients
Research and Development (R&D) Phases of Pharmaceuticals Industry
Industry-Wise Research and Development (R&D) Investment
Phase Wise Research and Development (R&D) Investment in Pharmaceuticals Industry
Indian Pharmaceuticals Industry Value Chain Analysis
3. NEED FOR INDIAN PHARMACEUTICALS MARKET
3.1 Rising & Ageing Population
3.2 Increasing Income Levels of Poor & Middle-Class Families
3.3 Drug Security
4. FORECAST FOR HOSPITAL PHARMACY MARKET IN INDIA 2023
4.1 Forecast for Hospital Pharmacy Market in India 2018-2023
4.1.1 Forecast for India Hospital Pharmacy Market 2018-2023
5. GROWTH DRIVERS AND INHIBITORS FOR HOSPITAL PHARMACY MARKET
6. POLICIES RELATED TO PHARMACEUTICALS INDUSTRY IN INDIA
6.1 Central Government Policies
6.1.1 Essential Commodities Act 1955
6.1.2 Drugs and Cosmetics Act 1940 (As amended in June 2005)
6.1.3 National Pharmaceutical Pricing Policy 2012
6.1.4 Drug Price Control Orders (DPCO)
6.1.5 Drug Policy 1986
6.1.6 Pharmaceutical Policy - 2002
6.2 Guidelines related to Marketing in Indian Pharmaceuticals Industry
7. INDUSTRY ASSOCIATIONS RELATED TO INDIAN PHARMACEUTICALS MARKET
7.1 Indian Drug Manufacturers' Association (IDMA)
7.2 Indian Pharma Machinery Manufacturers Association (IPMMA)
7.3 Indian Pharmaceutical Association (IPA)
7.4 Organisation of Pharmaceutical Producers of India (OPPI)
7.5 Association of Indian Medical Device Industry (AIMED)
8. GOVERNMENT BODIES RELATED TO INDIAN PHARMACEUTICALS MARKET
8.1 Department of Pharmaceuticals
8.2 Ministry of Chemicals & Fertilizers
8.3 National Pharmaceutical Pricing Authority (NPPA)
9. RISKS ASSOCIATED WITH INDIAN HOSPITAL PHARMACY INDUSTRY
9.1 Credit Risks
9.2 Policy Risk
9.3 Technical Risk
10. ANALYSIS OF INDIAN HOSPITAL PHARMACY MARKET
10.1 PESTLE Analysis of India Pharmaceuticals Market
10.2 Porter’s Five Forces Analysis of Indian Hospital Pharmacy Market
Threat of New Entrants
Threat of Substitutes
Bargaining Power of Suppliers
Bargaining Power of Buyers
Competitive Rivalry
10.3 SWOT Analysis of Indian Hospital Pharmacy Industry
Strengths
Weaknesses
Opportunities
Threats
11. FUTURE TRENDS IN INDIAN HOSPITAL PHARMACY MARKET
List of Exhibits
Notes
Company Information
Scope of the Hospital Pharmacy Market in India 2023 Report
Research Methodology
2. INTRODUCTION OF INDIAN PHARMACEUTICALS MARKET
Key Product Terms Used in Pharmaceuticals Industry
Pharmaceuticals
Innovative Drugs
Orphan Drugs
Generic Drugs
Commodity Generic Drugs
Branded Generic Drugs
Biologics
Biosimilars
Over-the-counter (OTC) Drugs
Active Pharmaceutical Ingredients (APIs)
Excipients
Research and Development (R&D) Phases of Pharmaceuticals Industry
Industry-Wise Research and Development (R&D) Investment
Phase Wise Research and Development (R&D) Investment in Pharmaceuticals Industry
Indian Pharmaceuticals Industry Value Chain Analysis
3. NEED FOR INDIAN PHARMACEUTICALS MARKET
3.1 Rising & Ageing Population
3.2 Increasing Income Levels of Poor & Middle-Class Families
3.3 Drug Security
4. FORECAST FOR HOSPITAL PHARMACY MARKET IN INDIA 2023
4.1 Forecast for Hospital Pharmacy Market in India 2018-2023
4.1.1 Forecast for India Hospital Pharmacy Market 2018-2023
5. GROWTH DRIVERS AND INHIBITORS FOR HOSPITAL PHARMACY MARKET
6. POLICIES RELATED TO PHARMACEUTICALS INDUSTRY IN INDIA
6.1 Central Government Policies
6.1.1 Essential Commodities Act 1955
6.1.2 Drugs and Cosmetics Act 1940 (As amended in June 2005)
6.1.3 National Pharmaceutical Pricing Policy 2012
6.1.4 Drug Price Control Orders (DPCO)
6.1.5 Drug Policy 1986
6.1.6 Pharmaceutical Policy - 2002
6.2 Guidelines related to Marketing in Indian Pharmaceuticals Industry
7. INDUSTRY ASSOCIATIONS RELATED TO INDIAN PHARMACEUTICALS MARKET
7.1 Indian Drug Manufacturers' Association (IDMA)
7.2 Indian Pharma Machinery Manufacturers Association (IPMMA)
7.3 Indian Pharmaceutical Association (IPA)
7.4 Organisation of Pharmaceutical Producers of India (OPPI)
7.5 Association of Indian Medical Device Industry (AIMED)
8. GOVERNMENT BODIES RELATED TO INDIAN PHARMACEUTICALS MARKET
8.1 Department of Pharmaceuticals
8.2 Ministry of Chemicals & Fertilizers
8.3 National Pharmaceutical Pricing Authority (NPPA)
9. RISKS ASSOCIATED WITH INDIAN HOSPITAL PHARMACY INDUSTRY
9.1 Credit Risks
9.2 Policy Risk
9.3 Technical Risk
10. ANALYSIS OF INDIAN HOSPITAL PHARMACY MARKET
10.1 PESTLE Analysis of India Pharmaceuticals Market
10.2 Porter’s Five Forces Analysis of Indian Hospital Pharmacy Market
Threat of New Entrants
Threat of Substitutes
Bargaining Power of Suppliers
Bargaining Power of Buyers
Competitive Rivalry
10.3 SWOT Analysis of Indian Hospital Pharmacy Industry
Strengths
Weaknesses
Opportunities
Threats
11. FUTURE TRENDS IN INDIAN HOSPITAL PHARMACY MARKET
List of Exhibits
Notes
Company Information
LIST OF EXHIBITS
Exhibit 2.1 Research and Development Phases of Pharmaceuticals Industry
Exhibit 2.2 Industry-Wise Research and Development Investment in Comparison to Net Sales (in %)
Exhibit 2.3 Phase-Wise Research and Development Investment in Pharmaceuticals Industry
Exhibit 2.4 Indian Pharmaceuticals Industry Value Chain Analysis
Exhibit 3.1 India Population Forecast 2016-2023 (in millions)
Exhibit 3.2 Purchasing Power Parity Based Per Capita GDP Forecast for India 2016-2023 (in USD)
Exhibit 4.1 Segment-wise Market Share of Indian Hospital Pharmacy Market in 2017 (in %)
Exhibit 4.2 Population Forecast for India 2016-2023 (in millions)
Exhibit 4.3 Forecast for Hospital Pharmacy Market in India 2018-2023 (in USD billion)
Exhibit 4.4 Growth Forecast for Hospital Pharmacy Market in India 2018-2023 (in %)
Exhibit 5.1 Growth Drivers and Inhibitors for Hospital Pharmacy Market in India
Exhibit 7.1 Key information of IDMA
Exhibit 7.2 Contact details of IDMA
Exhibit 7.3 Key information of IPMMA
Exhibit 7.4 Contact details of IPMMA
Exhibit 7.5 Key Information of IPA
Exhibit 7.6 Contact details of IPA
Exhibit 7.7 Key information of OPPI
Exhibit 7.8 Contact details of OPPI
Exhibit 7.9 Contact information for AIMED
Exhibit 10.1 PESTEL Analysis of the Indian Pharmaceuticals Industry
Exhibit 10.2 Porter’s Five Forces Analysis for Indian Hospital Pharmacy Market
Exhibit 10.3 SWOT Analysis of Indian Hospital Pharmacy Industry
Exhibit 2.1 Research and Development Phases of Pharmaceuticals Industry
Exhibit 2.2 Industry-Wise Research and Development Investment in Comparison to Net Sales (in %)
Exhibit 2.3 Phase-Wise Research and Development Investment in Pharmaceuticals Industry
Exhibit 2.4 Indian Pharmaceuticals Industry Value Chain Analysis
Exhibit 3.1 India Population Forecast 2016-2023 (in millions)
Exhibit 3.2 Purchasing Power Parity Based Per Capita GDP Forecast for India 2016-2023 (in USD)
Exhibit 4.1 Segment-wise Market Share of Indian Hospital Pharmacy Market in 2017 (in %)
Exhibit 4.2 Population Forecast for India 2016-2023 (in millions)
Exhibit 4.3 Forecast for Hospital Pharmacy Market in India 2018-2023 (in USD billion)
Exhibit 4.4 Growth Forecast for Hospital Pharmacy Market in India 2018-2023 (in %)
Exhibit 5.1 Growth Drivers and Inhibitors for Hospital Pharmacy Market in India
Exhibit 7.1 Key information of IDMA
Exhibit 7.2 Contact details of IDMA
Exhibit 7.3 Key information of IPMMA
Exhibit 7.4 Contact details of IPMMA
Exhibit 7.5 Key Information of IPA
Exhibit 7.6 Contact details of IPA
Exhibit 7.7 Key information of OPPI
Exhibit 7.8 Contact details of OPPI
Exhibit 7.9 Contact information for AIMED
Exhibit 10.1 PESTEL Analysis of the Indian Pharmaceuticals Industry
Exhibit 10.2 Porter’s Five Forces Analysis for Indian Hospital Pharmacy Market
Exhibit 10.3 SWOT Analysis of Indian Hospital Pharmacy Industry
