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India Emerging Market for Pharmaceutical Industries

India is currently becoming a hot favorite for the global pharmaceutical market with many implications posed to them. Rise of the demand in the medicines for various diseases in India. The companies are focusing more in India and China in future. By 2020 the Indian pharma industry is expected to be among the top 10 in market due to increase in the domestic demand. The change in the market is due to the fact that the disease becoming more chronic. Health care in India is now more in the reach of middle class and upper middle class Indian due to the increase in their income.

Health care system In India

Health care system in India is also a major developing sector in India. The affordability of Indian access to health care is also a boost for private sector to capture the opportunity. With the private sector account more than 80% of the total health care in India. The need for good health care also arises of the fact that Indian population is growing at the rate of 2% and by the 2030 China will fall behind the Indian which is also a concern and the amount of pressure it will put in the health care system.

Diseases

Many disease in India had come under control and is soon will be taken out disease like poliomyelitis, leprosy, and neonatal tetanus but with disease like dengue, viral fever, typhoid and malaria have currently seen a growth of number of cases or they have become resistant to drugs so many of these disease now becoming a epidemic in the current India society. These diseases can be attributed to the poor standard of living, poor sanitation, sewage are some of the major reason for the increase in the amount of disease. Indians today are leading a lifestyle which is centered on the way of lifestyle of western people. Due to this many other chronic diseases like heart attack, diabetes, high and low blood pressure has spread in the Indian society. Beside that there are high numbers of AIDS patent in India which need special medicines to fight and pharmaceuticals industry is looking in it.

Pharmaceutical industry

The pharmaceutical industry in India is one of the most emerging markets in India. With the rise in many health complications and diseases ranging from acute to chronic the opportunity for the growth of market is looking good in the coming future. With most of the companies is looking to launch their product in the current future the prospects look good. Another reason for the growth of pharmaceutical industry is the affordability of medicine and essential medicines and their pricing which is controlled by the National Pharmaceutical Pricing Authority (NPPA) via its Drug Price Control Order (DPCO). Currently 25-30% of the price of the market is controlled by DPCO.

Support and initiative by the Government of India

The market is also focusing on the prospect of rural India market. Rural India is growing faster than the urban India the health complication is also talking its tool there, with many of them suffering from diabetes and other chronic diseases. The health care system in rural India is a sector which required a major look with government only the major player investing in it. Private sector also should look in the prospect of this booming market.

The government of India also has given its full support to the pharmaceutical industries with 100 percent foreign direct investment (FDI) in the in the drug and pharma sector which will boost the industry and other initiatives which will only boost the pharmaceutical industry, beside, that the government also locating many SEZs through the country.

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