5 new opportunities in pharma industry: patented products, consumer healthcare, biologics, vaccines and public health
India's pharma industry set to quadruple billion by 2020
Neha Chowdhry / New Delhi October 23, 2010, 0:58 IST
The Indian pharmaceuticals market looks poised to grow to $55 billion in 2020, according to a new McKinsey & Company report — “India Pharma 2020: Propelling access and acceptance, realising true potential”. This will be a quadrupling of the market from the $12.6 billion the industry made in 2009.
The Indian pharmaceutical industry has been growing at 13-14 per cent in the past five years, a significant increase over the nine per cent growth witnessed between 2000 and 2005. According to the report, five new opportunities will capture 45 per cent of the market by 2020, growing from the $3-billion industry today to $14-18 billion in 2020. These are patented products, consumer healthcare, biologics, vaccines and public health.
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