Overview of Indian pharma industry

In recent few years, pharmaceutical industry has developed to record levels. It has been reported that Indian pharma sector has been growing constantly at the rate 13-14% per year. As per the McKinsey & Company, a leading consulting firm, pharmaceutical sector in India will reach 55 billion USD by the year 2020. It is expected that generics will continue to lead the market whereas patent-protected things are probably to add 10 % of the market till 2015. 

Indian Pharma industry is comprised with domestic as well as foreign companies (MNCs). Toppharmaceutical companies in India are playing major role in improving the growth of Indian Pharma sector. Growth in this sector is expected to be increased this year due to rising buyer expenditure, fast urbanization and others. 

In India, there has been a major change in the attitude of people towards healthcare. Shocking increase in cases of nervous system disorders, cardiovascular problems, diabetes and many other serious illnesses as well as disorders has generated more awareness and attentiveness among today’s population regarding the requirement of improvement in healthcare industry. Thereby, there is a huge demand for top pharmaceutical companies in India to invest their time and money in buying resources, in research and development of latest, effective and affordable drugs. 

India has created a pharma market of its own and it is being treated as a prospective partner by other countries. In terms of volume, the pharma market is ranked 3^rd and in terms of market value, it is ranked 10^th. In manufacturing of vaccines and generics, pharma companies in India are also proving to be international leaders.