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Health insurance penetration to drive India’s

pharma formulations market upto 17% growth
in FY2010: RNCOS report
Tagged with: formulations, health insurance
Wednesday, April 21, 2010, 17:10 This news item was posted in Featured, Industry category and has 0
Comments so far.
The domestic pharmaceutical formulations market in India will grow at an annual rate of around 17% in FY
2010, owing to increasing middle class population and rapid urbanization, says a report by RNCOS, an
industry research firm.
The growth of the formulations industry will mainly be driven by the increasing penetration of the health
insurance in India and the rising incidences of lifestyle diseases in the country, which has been possible due to
growing working class population in the country.
The consolidation in the industry triggered by product patent regime has improved the pricing power in the
industry.
Increase in drug prices in India account for 3-4% growth in the domestic formulation industry, according to
RNCOS study titled “Booming Pharma Sector in India” .
The Indian pharmaceutical industry has been witnessing

prodigious growth over the last few years. The industry is
projected to continue growing further at a CAGR of
around 13% during FY 2011-FY 2013.
The Indian pharmaceutical market shows immense growth

potential due to the growth of the pharma outsourcing
industry and the bioinformatics industry.
Further, various factors such as growing healthcare

spending and growth in the obligatory and voluntary
insurance schemes have been resulting into the increasing
usage of high-priced drugs in the country.
Infectious diseases are on the rise and India has

transformed itself as a conducive environment for clinical trials, which will further pave the way for the growth
of its pharmaceutical industry.
“Booming Pharma Sector in India” provides a statistical and analytical overview on the Indian pharmaceutical
market.
The report also discusses the opportunities and challenges that are expected to arise within and from the
pharmaceutical market.
The report also elaborates the emerging sectors and regulatory environment and presents prudent analysis of
the distribution system in the pharmaceutical industry.
The report evaluates various potentials of the formulations industry, both in terms of domestic turnover and
exports, for the coming years.
The generic drugs market in the world’s biggest pharmaceuticals market US is anticipated to grow at a
CAGR of around 9% during 2010-2012 even as India companies line up to grab a considerable share of the
business.
According to a recent RNCOS research called “Booming US Generic Drug Market” , the generic drugs
market in the US is anticipated to grow at a CAGR of around 9% during 2010-2012.
The US generics market is the biggest in the world, comprising more than half of the share of the global
generics market. The huge potential of this market can be interpreted from its vast pharmaceutical market,
which is again the largest in the world.
It is expected that a huge proportion of branded drugs in this market will lose patent protection in coming
three years, and thus will open doors for generic substitution.
RNCOS has identified various decisive factors molding the US generic drugs market towards an exponential
growth track.
Generics had an estimated share of around 78% in the US pharmaceuticals market and growth of generics
has outpaced the growth of overall pharmaceutical market.
The report also discusses the potential of generic drugs in various therapeutics segments of the pharmaceutical
industry, which will give a clear idea about the type of products available in the market.
Indian companies including Sun pharma, Aurobindo Pharma, Glenmark, Cadila Healthcare, Wockhardt,
Ranbaxy etc have major stakes in US generics market.
RNCOS is an industry research firm which provides industry insights and analysis.
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23-11-2010 Generated

Health insurance penetration by Foxit

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Pharma Job Vacancy

Health insurance penetration to drive India’s

The Indian pharmaceutical industry has been witnessing

The Indian pharmaceutical market shows immense growth

Further, various factors such as growing healthcare

Infectious diseases are on the rise and India has

Related Pharma Stories:

Latest Pharma stories from DWS Pill Scribe

Gujarat’s new policy allows taller hospitals and hotels

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