PRZOOM - /newswire/ -
Delhi, New Delhi, India, 2007/05/22 - With the current growth rate of 10% annually, Indian pharmaceutical sector is taking giant steps towards becoming a prominent player in global pharmacy.
“Opportunities in Indian Pharma Sector” – a recent market research done by RNCOS – has found that the share of Indian pharmaceutical industry is growing commendably at a rate of 10% per year. This is comparatively higher than the 7% annual growth rate that the overall global markets are witnessing.
Indian pharma industry will continue to enjoy rapid growth in next few years as well, with global patents on drugs – worth billions of dollars - expiring by 2007-08. This will prepare grounds for much anticipated spurt in both pharmaceuticals’ output and exports of the country. As per an industry study it’s projected that exports would rise 16% within the next couple of years (2007-2008), particularly in generic drugs’ area because drugs worth of approximately US$65 Billion would go off patent in this period in Europe and US.
Although India is a favorite destination for pharmaceuticals’ outsourcing, however research and contract manufacturing still remain relatively novel areas for Indian drug makers. As these makers have conventionally been focusing on marketing and manufacturing of drugs.
India’s highly fragmented pharmaceutical industry has shown rapid growth, owing to a lenient patent system and low-cost manufacturing structure. Consequently, competition has intensified and output volumes have increased, while costs have gone down at the same time.
RNCOS report on “Opportunities in Indian Pharma Sector” notifies, “Increasing number of global players is looking towards the expertise of India in R&D, low-cost manufacturing for outsourcing various activities such as contract manufacturing, contract research, and clinical trials. Market for generic drugs is also expected to revitalize in the coming years, with large number of drugs going off patent.”
This report is a must read for investors, businesses, analysts and all those individuals who’re closely monitoring the developments in the pharma sector in India. It helps clients in analyzing the opportunities critical to the growth of The Pharma Sector in India. The issues addressed in this report consist of emerging trends in the Pharmaceutical sector in India, key regulations and the policy environment in the industry, future prospects of the Pharmaceutical industry in India, opportunities and challenges in the Pharmaceutical market, etc.
About RNCOS E-Services Pvt Ltd.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.