Pharmaceutical and Medical Products Practice

India Pharma 2020
Propelling access and acceptance, realising true potential

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Executive summary

India Pharma 2020: Propelling access and acceptance, realising true potential

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Global pharmaceutical markets are in the midst of major discontinuities. While growth in developed markets will slow down, emerging markets will become increasingly important in the coming decade. The Indian pharmaceuticals market, along with the markets of China, Brazil and Russia, will spearhead growth within these markets.
The Indian pharmaceuticals market has characteristics that make it unique. First, branded generics dominate, making up for 70 to 80 per cent of the retail market. Second, local players have enjoyed a dominant position driven by formulation development capabilities and early investments. Third, price levels are low, driven by intense competition. While India ranks tenth globally in terms of value, it is ranked third in volumes. These characteristics present their own opportunities and challenges. In 2007, we undertook an exercise to assess the potential of the market by 2015. At that time, the country was beginning to witness