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Pharma & Life Sciences Congress
November 3, 2017
The Indian Pharmaceuticals market enlarged at a CAGR of 17.46 per cent during 2005-16 with the market increasing from US$ 6 billion in 2005 to US$ 36.7 billion in 2016 and is expected to expand at a CAGR of 15.92 per cent to US$ 55 billion by 2020. For the attaining these objectives, it is essential for the Indian Pharmaceutical Industry to become Globally competitive through World Class Manufacturing Competencies with Superiority and Cost Efficiency of Production Capacity. There is need to cultivate State-of-the-art Support Infrastructure both for Production and Research.
The Indian Pharmaceuticals Market is the third largest in terms of volume and thirteenth largest in terms of value. The Market has seen the entry of many foreign players as well as rise of many domestic manufacturers. India is the largest provider of Generic Drugs Globally with the Indian Generics making up for 20% of Global Exports in terms of volume. Recently, amalgamation has become a significant trait of the Indian Pharmaceutical Market as the Industry is highly fragmented.
India enjoys a focal position in the Global Pharmaceuticals Sector. The country also has a large pool of Scientists and Engineers who have the prospective to steer the industry ahead to an even elevated level. Currently over 80% of the Antiretroviral Drugs used Globally to combat AIDS (Acquired Immuno Deficiency Syndrome) are supplied by Indian Pharmaceutical Companies.