ABOUT AUTHOR:
Shrikant Ojha
Department of Quality Assurance Techniques,
Sinhgad College of Pharmacy, Vadgaon (Bk.),
Pune -411041, Maharashtra, India.
shrikant.py2011@gmail.com
INTRODUCTION:
The Pharmaceutical industry in India is the world's third-largest in terms of volume and stands 14th in terms of value. In terms of the global market, India currently holds a modest 1-2% share, but it has been growing at approximately 14% per year during the last four year[1]. India gained its foothold on the global scene with its innovatively engineered generic drugs and active pharmaceutical ingredients (API), and it is now seeking to become a major player in outsourced clinical research as well as contract manufacturing and research. India also has a vast pool of trained pharmaceutical scientists, doctors and researchers, which opens up avenues for joint collaborative research for new drug discoveries along with joint intellectual property rights.
INDIAN PHARMACEUTICAL INDUSTRY:
Growth
The Indian Pharma industry has been able to claim a share in the global market by leveraging its strengths and enhancing its regulatory and technical maturity. Formulations manufactured in India constitute 20 per cent of the global generics market by value, and the overall share of Indian manufactured formulations is as high as 46 per cent in the generics segment in the emerging markets[2].
Chart 1: Indian pharmaceutical market by 2020 (USD billion)
Investment in the Indian pharmaceutical industry
The drugs and pharmaceuticals sector attracted foreign direct investments (FDI) worth USD 5.03 billion between April 2000 and November 2011, according to the latest data published by Department of Industrial Policy and Promotion (DIPP) [3].
PHARMA MNCs TO CONTINUE ACTIVE PARTICIPATION IN INDIA
Chart 2: FDI inflow in the Drugs and Pharmaceutical industry (USD mn)
FACTORS INFLUENCING GROWTH OF THE INDUSTRY
INCREASING SHARE OF PHARMA INDUSTRIES HEALTH CARE PROFESSION
- 2009- Sanofi-Aventis’ launched Saath 7 program for diabetic patient[4]
- 2010- Johnson & Johnson (J&J) launched a mobile health initiative for expectant mothers[5].
- 2011- Pfizer collaborated with FMCG major ITC to in the rural markets enhance its product sales[6]
MAJOR CONTRIBUTION OF HERBAL AND MARINE SOURCES
Indian pharmaceutical industry: swot analysis
- Strengths- Low cost of innovation, manufacturing and operations,
- Low cost of skilled manpower,
- Weaknesses- Stringent pricing regulations, presence of more unorganised players versus the organised ones.
- Opportunities- Opening of the health insurance sector and increase in per capita income.
- Threats- Other low-cost countries such as China and Israel affecting outsourcing demand for Indian pharmaceutical products.
- Entry of foreign players
REFERENCES:
1. Asia Pacific Business & Technology website, biztechreport.com/story/1610-report India%E2%80%99s-pharmaceutical-industry, AUG 9, 2012.
2. Indian pharma industry to be in global top 5 by 2020: Ikon Marketing Consultant, The Economic Times website, articles.economictimes.indiatimes.com/2011-09-/news/301493461pharma-industry-health-insurance-health-care, accessed on November 2011.
3. Outlook Magazine, November 11, 2011.
4. Community programs, sanofi aventis.in/l/in/en/layout.jsp?cnt=11737C37-34DD-4B96-AF3D-F8BCBD5C5368,November 11, 2011.
5. 7 Responsibility, Merck Sharp & Dohme India website, msdindia.in/responsibility, November 11, 2011.
6. "J&J's Mobile Health for Mothers, Mobile health news website, mobihealthnews.com/8851/jjs-mobile-health-for-mothers-but-what-about-text4baby/, November 11, 2011.
NOW YOU CAN ALSO PUBLISH YOUR ARTICLE ONLINE.
SUBMIT YOUR ARTICLE/PROJECT AT articles@pharmatutor.org
Subscribe to Pharmatutor Alerts by Email
FIND OUT MORE ARTICLES AT OUR DATABASE
.png)
