Article Details

Indian Pharmaceutical Market Future Growth | Original Article

Kamal Kishor Kurdia*, H S Panwar, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research

ABSTRACT:

India is a major player in the pharmaceutical industry. Currently, India is the world's leading supplier of generic pharmaceuticals, accounting for 20 of worldwide exports in volume. This means that the Indian pharmaceutical business will outpace the worldwide pharmaceutical industry, which is predicted to expand at a 5 annual rate between 2015 and 2020. Patent-protected generics account for more than 80 of all pharmaceutical sales (in terms of revenues). An estimated 2.4 percent of the world pharmaceutical business in value and 10 percent in volume, the Indian pharmaceutical sector is predicted to grow at a 15.92 percent compound annual growth rate to US 55 billion by 2020 from US 20 billion in 2015. This study demonstrates that the AGR of pharmaceutical imports and exports as a whole is responsible for its growth rate.