Noida, UP -- (SBWire) -- 12/12/2010 -- India is considered as one of the fastest growing pharmaceutical markets in the world. Export has been the key driver for the Indian pharmaceutical market. During the last few years, India has emerged as an intensely preferred manufacturing location of pharmaceuticals worldwide due to the low cost factor. The European and African countries have been added up as new destinations for exports. The exports are expected to pick up pace in future as healthcare reform in the US and other countries will inflate demand for generic drugs. As per our new research report “Booming Generics Drug Market in India”, the generic drugs market in India is projected to grow at a CAGR of around 16.3% during FY 2011-FY 2013 on account of rising exports.
Export of generic drugs from India has increased due to the growing demand and acceptance of generics in all over the world. Hence, the Indian pharmaceutical firms now have a significant presence in almost every major pharmaceutical market. Moreover, Indian companies like Ranbaxy, Cipla have set up operation networks in developed countries to facilitate their operation and marketing efforts in a proper manner.
We have found that the companies are now desperately searching for new areas in the domestic market for expansion. Rural parts are definitely the country’s spotlight for drugs manufacturers. For this, special expansion plans in marketing network and infrastructure are being carried out by the players. Besides, the focus is on developing and launching drugs in the special niche segments. These trends are also expected to continue in future.
Our report contains information about the regulatory environment that has done an outstanding job in the development of Indian generic industry. Besides, it provides information on various industry roadblocks that need to be addressed for sustaining the growth trend. Our study provides rational analysis of various segments like API and formulation drugs of the Indian generic and pharmaceutical market. A detail overview of competitive landscape has also been included to provide a balanced research approach.
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Increasing Export Driving Indian Generics Drug Market