The past decade has seen considerable growth in the Indian pharmaceutical industry. The country has emerged as a key supplier of high quality and affordable medicines not only to the developing world, but also to developed economies.
The past decade has seen considerable growth in the Indian pharmaceutical industry. The country has emerged as a key supplier of high quality and affordable medicines not only to the developing world, but also to developed economies. The sector has recorded a compound annual growth rate (CAGR) of 13.5% over the past five years and is projected to reach $45 billion in 2020.
With the ongoing shift from small molecules to biologics, the Indian biopharmaceutical industry is also set to replicate the success received by the Indian pharmaceutical companies. The biopharmaceuticals market has witnessed the fastest growth in the 2013 financial year as compared to other biotech markets (e.g., Bio-Agri, Bio-Services, and Bio-Informatics).
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