NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/06/17 - The Indian pharma industry is set to grow at a CAGR of around 15% during FY 2012-FY 2014, as foreign companies are penetrating the market through viable joint ventures, says RNCOS.
According to our research report “Indian Pharma Sector Forecast 2014”, the Indian pharmaceutical industry is moving towards the adoption and development of generic drugs, which will help it to grow at a CAGR of around 15% during FY 2012-FY 2014. Despite factors, such as increasing urbanization and personal disposable income, a large share of people in India cannot afford patented drugs. To fight these issues, the government and the pharma companies are focusing on introducing generic drugs into the market, which have the same level of efficacy minus the heavy bills.
As the growth of the industry is increasingly depending on the sale of generic drugs, even foreign companies are looking to capitalize on the potential of Indian market through this segment. Two major announcements have come in 2011 regarding the foreign pharma companies looking to penetrate the generics market in India. During January 2011, Zydus Cadila announced a joint venture bringing Germany's Bayer Healthcare in India and in April 2011, Sun Pharmaceutical Industries announced a joint venture with US-based Merck & Co Inc. Both international majors are looking to develop, produce and market generic drugs in India through these ventures.
Through in-depth research and analysis, we have studied all the major segments of the Indian pharmaceutical market. The segmentation has been done based on domestic & export market, branded & generics drugs, formulations & bulk drugs, etc. Additionally, we have covered the major acute and chronic therapeutic segments of the industry.
Our report “Indian Pharma Sector Forecast 2014”, also analyzes the regulatory environment and distribution system of the industry to depict its strengths and weaknesses. It comprises a detail analysis of the prevailing market trends, industrial developments, and competitive landscapes to enable clients understand the market structure and its progress in coming years. It also provides a brief overview of demographics and healthcare profile to adjudge the pharmaceutical market in terms of demand, expenditure, and possible future direction.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.