Indian pharmaceutical sector is on the threshold of growth in multifarious areas. Owing to changes in regulations and opening up of the sector as part of globalization, the country is on the 'most-wanted' list of many international pharmaceutical giants.
Indian pharma sector is growing at the rate of approximately 8-9% and is presently considered to be ranked 14th in terms of value. This ranking is predicted to go up in this decade and India is expected to become a lucrative market in the coming years due to many complementing factors. At present selected few companies like Cipla, Sun Pharma, Ranbaxy, Lupin, Dr. Reddy's Labs etc. have a formidable presence in the overall domestic market share and have considerable exports. There are around 250 – 300 large units and more than 8000 small scale units. But there is a huge scope for growth in this country owing to its massive population, majority of them are still bereft of basic medication and healthcare.
Published in SME World June 2011 Issue