Landscape for pharmaceutical companies around the world is changing rapidly.
India’s pharmaceuticals industry, which is currently ranking 10th in the global table looks set for a solid long-term growth. The current worth is around US$28 billion and are among the world leaders in the production of generics and vaccines.
India’s generic houses has ventured into strategic alliances with global pharma companies to strengthen their generic portfolio and jointly market these drugs globally. India thus produces more than 40% of the world’s generics, whereby creating a massive threat to established generic firms across the world.With considerable manufacturing expertise, India’s pharmaceutical industry is growing considerably.Nonetheless, investor confidence has remained fairly stable and deals continue despite challenges.
Close to 70% of India’s population still resides in rural areas. Many pharma companies are and targeting rural sectors. The untapped potential of Indian rural markets is seen as the key growth driver. Rising income levels leading to more affordability, improving health infrastructure, and increasing lifestyle diseases result in growth in rural areas.