Indian pharmaceutical sector continues to grow and currently meets almost 95% of domestic markets' needs.

The Indian pharmaceutical sector has come a long way, being almost non-existent before 1970 to a prominent provider of healthcare products, meeting almost 95% of the country's pharmaceuticals needs. The domestic pharmaceutical sales have increased from Rs4bn in 1970-71 to Rs214bn in 2002, at a CAGR of 13.7% per annum. The total Indian production constitutes about 1.3% of the world market in value terms and, 8% in volume terms. The per capita consumption of drugs in India, stands at US$3, is amongst the lowest in the world, as compared to Japan- US$412, Germany- US$222 and USA- US$191.

(PRWEB) December 7, 2003 --The Indian pharmaceutical sector has come a long way, being almost non-existent before 1970 to a prominent provider of healthcare products, meeting almost 95% of the country's pharmaceuticals needs. The domestic pharmaceutical sales have increased from Rs4bn in 1970-71 to Rs214bn in 2002, at a CAGR of 13.7% per annum. The total Indian production constitutes about 1.3% of the world market in value terms and, 8% in volume terms. The per capita consumption of drugs in India, stands at US$3, is amongst the lowest in the world, as compared to Japan- US$412, Germany- US$222 and USA- US$191.

Indian pharmaceutical industry is mounting up the value chain. From being a pure reverse engineering industry focussed on the domestic market, the industry is moving towards basic research driven, export oriented global presence, providing wide range of value added quality products and services. Government policies will play an important role in defining the future of the pharmaceutical industry. The product patent regime coming into effect from January 2005 will lead to long-term growth for the future.

Increased generic penetration, intense competition, fragmentation of the industry has negatively impacted the overall value growth of the domestic pharmaceutical market. In this scenario, to grow in the domestic market, pharmaceutical companies are constantly eyeing for innovation, introduction of new value added products, product life cycle management and enlarging their market reach. Indian companies are putting their act together to tap the generic drugs markets in the regulated high margin markets of the developed countries. The US market will remain the most lucrative market for the Indian companies led by its market size and the intensity of blockbuster drugs going off patent. An estimated US$45bn of drugs expected to go off patent by 2007 in US alone.

This report provides a comprehensive analysis of the Indian pharmaceutical industry, major therapeutic segments, production, exports, imports, market share, growth factors and pharmaceutical policies.The report lays special emphasis on the opportunities to the Indian pharmaceutical companies in the generic markets of developed countries , custom manufacturing and clinical outsourcing.

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