- Between 2011 and 2016, patent drugs worth USD 255 Billion are estimated to go off-patent leading to a huge surge in generic product and tremendous opportunities for companies.
- By 2020, it will grow to USD 11 billion - a CAGR of 18%, with the potential to reach USD 13 billion - at an aggresive CAGR of 20%.
- With increasing penetration of chemists, especially in rural India, OTC drugs will be readily available.
- Pharma companies have increased spending to tap rural markets and develop better infrastructure. The market share of hospitals is expected to increase from 13.1% in 2009 to 26% in 2020.
- Following the introduction of product patents, several multinational companies are expected to launch patented drugs in India.
- The purported rise of lifestyle diseases in India is expected to boost industry sales figures.
- Over USD 200 Billion is to be spent on medical infrastructure in the next decade.
- Rising levels of education are set to increase the acceptability of pharmaceuticals.
- Indiaâs patient pool is expected to increase to over 20% in the next 10 years, mainly due to the rise in population.
Reasons to Invest
- India is expected to rank amongst the top three pharmaceutical markets in terms of incremental growth by 2020.
- India will become the sixth largest market globally in terms of absolute size by zero.
- Indiaâs generic drugs account for 20% of global exports in terms of volume, making the country the largest provider of generic medicines globally.
- Indiaâs cost of production is significantly lower than that of the USA and almost half of that of Europe.
- A skilled workforce as well as high managerial and technical competence.
- Economic prosperity is likely to improve affordability for generic drugs in the market.
- Approval time for new facilities has been drastically reduced.
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