Pharma Companies in India

ndia's pharmaceutical industry is now the third largest in the world in terms of volume and stands 14th in terms of value. According to data published by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, the total turnover of India's pharmaceuticals industry between September 2008 and September 2009 was US$ 21.04 billion. Of this the domestic market was worth US$ 12.26 billion.

The Indian pharmaceuticals market is expected to reach US$ 55 billion in 2020 from US$ 12.6 billion in 2009, according to a report ‘India Pharma 2020: Propelling access and acceptance, realising true potential’ by McKinsey & Company. The report states that the market has the further potential to reach US$ 70 billion by 2020 in an aggressive growth scenario.

Moreover, according to an Ernst & Young and industry body study, the increasing population of the higher-income group in the country, will open a potential US$ 8 billion market for multinational companies selling costly drugs by 2015. Besides, the report said the domestic pharma market is estimated to touch US$ 20 billion by 2015, making India a lucrative destination for clinical trials for global giants.

Further, IMS Health India, which tracks drug sales in the country through a network of nationwide drug distributors, estimates the healthcare market in India to reach US$ 31.59 billion by 2020.

Growth

The Indian pharmaceutical market reached US$ 10.04 billion in size, with a value-wise growth rate of 20.4 per cent over the previous year’s corresponding period on a Moving Annual Total (MAT) basis for the 12 months ended July 2010, according to data from IMS Health India.

Cipla maintained its leadership position in the domestic market with 5.27 per cent share, followed by Ranbaxy. The highest growth in the domestic market was for Mankind Pharma, which grew 37.2 per cent. Leading companies in the domestic market such as Sun Pharma (25.7 per cent), Abbott (25 per cent), Zydus Cadila (24.1 per cent), Alkem...