NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/05/25 - Indian pharmaceutical sector is thriving with the boom in bio pharma segment, which accounted for almost 70% of domestic sales in pharma sector during 2005-06.
In its recent study “Opportunities in Indian Pharma Sector” RNCOS has found that, currently, India holds almost US$6 Billion of the US$550 Billion pharmaceutical industry globally. The share of India is increasing at 10% per year. In sharp contrast of the 7% annual growth observed by the overall global markets, this figure speaks of a very promising scenario.
Assocham, the industry body, has revealed that Indian biotechnology sector should grow more than thrice from US$1.5 Billion in 2004-05 to US$5 Billion by the year 2009-2010.
Indian biotech industry, based upon industry inputs, is all set to emerge as a hub for clinical & biological services, and custom research. And within biotechnology, bio-pharma is the segment that’s growing most swiftly. During 2005-06, Bio-pharma was accountable for 70% of domestic sales in pharmaceuticals sector.
According to Assocham, there’re above 300 biotechnology firms in India that focus on various facets of the value-chain, however, nearly 50% of the revenue is concentrated with top ten players. In India, bio-generics and vaccines are the most common interest areas for major firms such as Bharat Biotech, Dr Reddy’s Lab, Workhardt, Zydus, etc. The country is already the 2nd largest maker of vaccines that are used by kids and these vaccines are exported to more than 100 countries.
As per RNCOS’ market research report on “Opportunities in Indian Pharma Sector”, “Bio-Pharma market is witnessing an unswerving growth trend, with year 2004 observing record vaccine sales of US$386.3 Million. India is fast emerging as the center for global vaccine market. It’s expected that Indian pharmaceutical firms will supply 90% of the worldwide demand for measles-vaccine in the years to come. Apart from vaccines, diagnostics is another rapidly growing segment of Indian bio pharma sector. In 2004, diagnostic market recorded sales of for US$ 138.2 Million.”
The report further provides extensive research and objective analysis of the Pharma Sector in India. This report helps clients in analyzing the opportunities critical to the growth of the Pharma Sector in India. Key facts and issues analyzed in this report include: emerging trends in the Pharmaceutical sector in India, future prospects of the Pharmaceutical Industry in India, key players in the Pharmaceutical market in India, Opportunities and challenges in the Pharmaceutical market, and so on.
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.