Rising income and awareness will drive pharma growth: CII

[suguhopes]

NEW DELHI: The Rs 36,000 crore Indian pharmaceutical market is likely
to grow at 19.4 per cent on the back of rising health consciousness
and increasing affordability of the expanding middle class coupled
with health insurance facilities in the country by 2015, according to
a CII study.

The study, 'CII-Interlink paper on growth agenda of pharmaceutical
industry in India' has been conducted by Interlink, a business and
management consulting firm.

Middle class population, health insurance facilities, unpenetrated
markets, marketing efficiencies, generics and brand development are
the six key drivers which would push the growth in the domestic
pharmaceutical segment.

These drivers together will contribute an estimated 6.64 per cent to
the growth of Indian pharmaceutical market which is poised to grow at
19.64 per cent by 2015.

Also, the developments may trigger the pharmaceutical industry to be
more focussed to meet the challenges of innovations and pricing
pressures, the paper pointed out.

Besides this, a large number of patients who are either untreated or
under-treated in the country would lead increased demand for newer and
better medicines, the paper said.

N.Sukumar
Research Analyst