Times of India: September 10, 2015
Mumbai: Domestic generic drug market is expected to cross $27.9 billion from the existing $13.1 billion, registering a CAGR of about 16.3%, particularly due to approvals by US FDA makers and 21 drugs losing patent by 2019, according to a joint study by Assocham and RNCOS.
Generics would account for 85% share in the domestic pharma market by 2020, fuelled by cheap labour, patent cliff of blockbuster drugs and prevalence of lifestyle diseases, according to a study on 'Generic Medicines in India- Promulgating Growth & Access.
Generic drugs account for 75% of the domestic pharmaceutical market by value. Drugs for cholesterol control, pain management, anticoagulant, respiratory, liver disorders, depression and lipid regulators are prevalent in the global market.
Major export markets for the country's pharmaceutical products are Americas, Europe, China, Japan and Africa. US is the single-largest export destination, accounting for nearly 28% of domestic pharmaceutical exports, followed by the European Union (18%) and Africa (17%), it says.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.