The Indian pharmaceutical market is expected to touch a new height in sales. currently indian pharma sector is doing business near about to US$ 11 billion( as per PricewaterhouseCoopers (PwC) report). India's pharmaceutical market grew at 15.7 per cent during December 2011, with growth in key therapy areas, including anti-diabetics, derma and vitamins outperformed the market, according to data compiled by market research firm All India Organisation of Chemists and Druggists (AIOCD).
India has every chance to capitalise the opportunity to become a pharmaceutical Superpower in 2020 and a hub for all pharmaceutical manufacturing & research needs, according to Subodh Priolkar, President, 63rd IPC, and regional Managing Director, Colorcon Asia.
Market Size
"Aggregate disclosed value of merger & acquisitions
(M&A) deals in the pharmaceuticals sector surged from a meagre US$ 1.2
billion in FY10 to US$ 4 billion in FY11, reflecting a jump of more than 230
per cent," as per an Ernst & Young (E&Y) report. M&A has
emerged as one of the key strategies in the last two to three years to gain a
foothold in emerging markets with several big ticket acquisitions, the report
added.
Exports
India has world
renowned capacity in producing low cost
The Ministry of Commerce has proposed an ambitious Strategy
Plan to double pharmaceutical exports from US$ 10.4 billion in 2009-10 to US$
25 billion by 2013-14. The Government has also planned a 'Pharma India' brand
promotion action plan spanning over a three-year period to give an impetus to
generic exports.
Growth
The Indian pharmaceutical market is poised to grow to US$ 55
billion by 2020 from the 2009 levels of US$ 12.6 billion, as per a McKinsey
& Company report titled "India Pharma 2020: Propelling access and
acceptance realising true potential". The industry further holds potential
to reach US$ 70 billion, at a compound annual growth rate (CAGR) of 17 per
cent.
India's pharmaceutical sector is gaining a global leadership
position and Indian generics today constitute nearly a fifth of global
supplies. Our pharmaceutical companies can be of immense value in providing
affordable healthcare which is much needed in a country of Japan's demographic
profile. India also has a vast pool of trained pharmaceutical scientists,
doctors and researchers, which opens up avenues for joint collaborative
research for new drug discoveries along with joint intellectual property rights
(IPRs).
Generics
Generics will continue to dominate the market while
patent-protected products are likely to constitute 10 per cent of the pie till
2015, according to McKinsey report 'India Pharma 2015 - Unlocking the potential
of Indian Pharmaceuticals market'.
