What is the size of Indian pharma market? Market Size India’s domestic pharmaceutical market is estimated at US$ 42 billion in 2021 and likely to reach US$ 65 billion by 2024 and further expand to
What is the size of Indian pharma market?
Market Size India’s domestic pharmaceutical market is estimated at US$ 42 billion in 2021 and likely to reach US$ 65 billion by 2024 and further expand to reach ~US$ 120-130 billion by 2030.
How much is the pharmaceutical industry worth in India?
The pharmaceutical industry in India is currently valued at $41.7 bn. Generic drugs, with 71% market share, form the largest segment of the Pharmaceutical industry in India. This is set to grow as exports of generics to the US rise, as branded drugs worth $55 bn will become off-patent during 2017-2019.
How many pharmaceutical industry are there in India?
India ranks third worldwide for pharmaceutical production by volume and 14th by value. The country has an established domestic pharmaceutical industry, with a strong network of 3,000 drug companies and about 10,500 manufacturing units.
How big is the pharmaceutical industry?
The pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide totaled 1.27 trillion U.S. dollars in 2020.
Which country has highest pharmaceutical industry?
Countries With The Biggest Global Pharmaceutical Markets In The World
| Rank | Country | Value of Pharmaceutical Market (in millions of $) |
|---|---|---|
| 1 | USA | 339,694 |
| 2 | Japan | 94,025 |
| 3 | China | 86,774 |
| 4 | Germany | 45,828 |
How big is the pharmaceutical market in India?
According to the Indian Economic Survey 2021, the domestic market is expected to grow 3x in the next decade. India’s domestic pharmaceutical market is estimated at US$ 42 billion in 2021 and likely to reach US$ 65 billion by 2024 and further expand to reach ~US$ 120-130 billion by 2030.
What’s the percentage of generic drugs in India?
Generic drugs have traditionally been India’s stronghold and contributed over 70 percent to the overall market revenue in 2018 alone. The Indian pharmaceuticals market has several unique characteristics that have contributed to its steady growth as well as recognition.
Which is the largest pharmaceutical industry in the world?
India is the largest provider of generic drugs globally. Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. India enjoys an important position in the global pharmaceuticals sector.
Who are the largest pharma companies in Russia?
In February 2021, the Russian Ministry of Health allowed Glenmark Pharmaceuticals to market its novel fixed-dose combination nasal spray in Russia.