Industrial Pharmacy

Market Surveillance of Industrial Pharmacy

The Indian pharmaceutical industry, the most respected amongst the emerging nations, is one of the most sought after sectors from a global collaboration point of view. The Indian pharma sector offers a lot to be optimistic about. The sector which was only $ six billion in 2005 has zoomed to $18 billion market in 2012, clocking a CAGR of 17 per cent. The sector is expected to grow to $45 billion by 2020. Even in the most pessimistic scenario, the sector is expected to be the sixth largest in the world in terms of absolute size by 2020. The sector stands to benefit from various domestication and international driving factors. Exports continue to make a significant contribution to the industry economic growth story. Apart from the developed markets, Indian pharma companies have established a strong presence in other fast growing semi-regulated markets like Russia, South Africa and Latin America. The share of pharma companies of Indian origin is close to 73 per cent of the Indian market while multinational companies hold the rest 27 per cent. This clearly indicates that the majority share of the Indian market is with domestication Pharmaceutical companies and equally distributed amongst both large and small scale pharmaceutical companies. Currently, India’s share of the US generic market is 24 per cent in terms of volume and 40 per cent of the new product approvals granted by the US FDA has been to Indian companies (YTD 2013). It has established a strong reputation in the global space for being a high quality supplier of affordable generics. The Indian pharm sector is at the threshold of aggressive economic growth. It is believed that the Indian pharma market will be amongst the top three global markets in terms of incremental growth by 2020.