India's pharmaceutical sector is expected to touch US$ 74 billion in sales by 2020 from the current US$ 11 billion, according to a PricewaterhouseCoopers (PwC) report.
The Indian pharmaceutical market is expected to grow at a compound annual growth rate (CAGR) of 14-17 per cent over 2012-16. India is now among the top five pharmaceutical emerging markets.
The outlook on the Indian pharmaceutical industry remains favourable, according to a report by ICRA and Moody's. Domestic formulation market stood at Rs 58,300 crore (US$ 10.88 billion) and has been ranked third in terms of volume and tenth in terms of value, globally.
On back of increasing sales of generic medicines, continued growth in chronic therapies and a greater penetration in rural markets, the domestic pharmaceutical market is expected to register a strong double-digit growth of 13-14 per cent in 2013. The year 2012 closed with a growth of 12 per cent, according to data from research firm IMS Health.
The cumulative drugs and pharmaceuticals sector attracted foreign direct investments (FDI) worth US$ 9,776 million between April 2000 to November 2012, according to the latest data published by Department of Industrial Policy and Promotion (DIPP).
Recruitment in India during 2013 is expected to be driven by the information technology (IT) and pharmaceutical/ life sciences sectors, according to executive job search and career portal, HeadHonchos.com.
India's exports of drugs, pharmaceutical and fine chemicals grew by 27 per cent to Rs 60,000 crore (US$ 11.19 billion) for the year ended March 2012, according to data compiled by Pharmaceutical Exports Council of India (Pharmexcil).
The Ministry of Commerce has proposed an ambitious Strategy Plan to double pharmaceutical exports from US$ 10.4 billion in 2009-10 to US$ 25 billion by 2013-14. The Government has also planned a 'Pharma India' brand promotion action plan spanning over a three-year period to give an impetus to generic exports.
Gujarat-based small and medium-sized pharmaceutical manufacturers are focussing on export markets, especially to emerging economies such as African and Latin American nations. Small and medium sized enterprises (SMEs) based in Gujarat exported pharma products worth Rs 400-Rs 500 crore (US$ 74.63-US$ 93.28 million) in 2011-12. Of the net exports by SMEs, the share of emerging markets is 50-60 per cent, and it is rising yearly by 30-35 per cent, as per an Indian Drug Manufacturers' Association (IDMA) official.
India will see the largest number of merger and acquisitions (M&As) in the pharmaceutical and healthcare sector, according to consulting firm Grant Thornton. A survey conducted across 100 companies has revealed that one- fourth of the respondents were optimistic about acquisitions in the pharmaceutical sector.
The Indian pharmaceutical market is expected to grow at a CAGR of 15.3 per cent during 2011-12 to 2013-14, according to a Barclays Capital Equity Research report on India Healthcare & Pharmaceuticals.
Generics will continue to dominate the market while patent-protected products are likely to constitute 10 per cent of the pie till 2015, according to McKinsey report 'India Pharma 2015 - Unlocking the potential of Indian Pharmaceuticals market'.
Dr Reddy's Laboratories Ltd has launched Finasteride tablets, a bio-equivalent generic version of Propecia (Finasteride) tablets, in the US market. The tablets are used for treating male pattern hair loss.