- Indian pharmaceutical industry experienced growth of nearly 11% between 1980-2009
- In 2010 the Indian clinical trials sector was estimated to be worth $1 billion
- $0.4 billion Indian pharmaceutical deals conducted in 2008
LONDON--(BUSINESS WIRE)-- The Indian pharmaceutical market increased in value to $22.6 billion in 2009, compared with $1.9 billion in 1980, according to a new report available on companiesandmarkets.com. The last few decades have seen an increasing amount of investment in the Indian pharmaceutical sector, with many large pharmaceutical companies taking advantage of the country’s low labour rates and skilled workforce.
Emerging Pharmaceutical Market in India - Strategic Partnerships Between Domestic and International Pharmaceutical Players are the Driving Force
The pharmaceutical market in India is growing rapidly, and more and more high profile pharmaceutical companies are shifting R&D operations to the region, provoking analysts to forecast a 12-13% growth between 2011-2015.
Pharmaceutical companies are increasingly drawn to the Indian market on account of the country’s highly trained staff and low infrastructure and employment costs. In recent years the laws governing patents have also become more stringent, and coupled with the government’s generous tax incentive scheme for overseas R&D investment, the Indian pharmaceutical market is in a strong position to attract overseas investors.
Consolidation is likely to shape the future of the Indian pharmaceutical industry, with multiple mergers, acquisitions and deals expected over the next few years. The generic drugs sector will command a large share of the market as a large number of drugs fall off-patent in the coming years.
The market for clinical trials in India is burgeoning, as global pharmaceutical companies seek to minimise the high costs associated with drug development. Indian CRO facilities are well equipped and staffed with highly trained operatives, and in 2010, India conducted more clinical trials than Brazil, Russia or China.
The 108 page research piece, published in August 2011, thoroughly examines the Indian market for pharmaceuticals, biotechnology and outsourcing, with historical and forecast statistical data on a variety of market factors.
A SWOT analysis of some of India’s key foreign players is included e.g. Sanofi-Aventis, F. Hoffmann-La Roche Ltd., AstraZeneca, GlaxoSmithKline Pharmaceuticals Ltd and Abbott Laboratories.
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KEYWORDS: United Kingdom Europe Asia Pacific India
INDUSTRY KEYWORDS: Health Clinical Trials Pharmaceutical