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September 11, 2015.
The India Brand Equity Foundation (IBEF) reports that the Indian domestic pharma market is estimated at INR 90,400 crore (US$ 15 bn), ending FY15 with a growth of 12%.
India's top 20 companies are said now to account for 64% of the domestic market. Eight out of the top 20 are reportedly growing faster than the market, with Macleoids topping the list with 23.4% growth followed by Intas with 21.3%, Cipla 19.7% Glenmark over 19.4% growth and Mankind 19.3%. India’s pharma exports stood at US$ 15.3 bn in 2014-15. M&A activity in the industry accounted for $ 5.78 bn an increase of around 44.5% in comparison to 2013.
IBEF points to public-private partnerships, an increased penetration of healthcare facilities in non-metro cities, involvement of multinationals in setting up facilities in the country, and establishment of educational institutions as the prime reasons for India's pharma surge.
Further, it reports that India is expected to grab "at least a 20-25 percent share of the global market share in biosimilars in the next five years".