Drug Companies: You have a drug, India has the market
Indian pharma market on steroid-like growth
The Indian pharmaceutical market has shown growth of a little over 20 per cent for the 12 months ended July, above four times the global growth rate of about five per cent.
The Indian drug market, currently valued fourth in terms of volume and 13th in terms of value, is expected to become one of the largest in the world, thanks to the population size.
IMS data said the anti-diabetic therapy segment recorded the highest growth for these 12 months, at 29 per cent in value, among various therapeutic segments. The genito-urinary and sex hormone segment recorded a growth of 24 per cent and cardio vascular system and nervous system medicine showed 22 per cent value growth for the 12-month period.
The Indian pharmaceutical market is expected to touch $40 billion (Rs 1.8 lakh crore) by 2015, predicts the global management consulting major, Mckinsey & Co.
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