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India is one of the fastest-growing pharmaceutical markets in the world and has established itself as a global manufacturing and research hub. A large raw material base and the availability of a skilled workforce give the industry a definite competitive advantage.
Highlights
- The Indian pharmaceutical industry was estimated to be worth US$ 19.4 billion in 2008-09 and is expected to touch US$ 40 billion by 2015.
- Globally, India ranks third in terms of volume of production and fourteenth largest by value.
- The domestic market is likely to grow from US$ 12 billion in 2008-2009 to US$ 20 billion by 2015.
- The domestic pharma sector is witnessing strong growth due to higher penetration in tier-II and tier-III cities and greater focus on the largely- untapped rural market.
- Improvement in healthcare delivery and increased healthcare insurance have further accelerated market growth.
- In recent years, the industry has been witnessing a strong wave of modernisation and technological upgradation. This has resulted in:
- A shift from manufacturing tablets and capsules to high-value, specialty products like parenteral solutions and novel drug delivery systems (NDDS).
- Vertical integration and horizontal consolidation of production processes.
- Development of supply chain management.
- Improvement in productivity.
Pharmaceutical Export Promotion Council (PHARMEXCIL)
The Pharmaceutical Export Promotion Council (PHARMEXCIL) was set up in 2004 by Ministry of Commerce and Industry, Government of India, for the promotion of pharma exports.
Contact Details
101, Aditya Trade Centre,
Ameerpet,
Hyderabad - 500038,
India.
Phone: 91 - 40 - 23735462 / 5466
Fax: 91 - 40 - 23735464
Email: info@pharmexcil.com
Website: www.pharmexcil.com
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