Domestic drug market to grow by 13 per cent in 2013
The domestic drug market is well-poised to file a double digit growth in 2013.
New Delhi, April 24, 2013: As per the projections from IMS Health and PharmaTrac, the Rs 72,000 crore drug market in India is expected to grow by 11-13 per cent in 2013. The positive estimates from the research firms are a boost to efforts of drug firms who are looking at India as one of the most important pharma markets in the world.
If the projections are met in this year, the growth for the year would be in sync with the average annual growth clocked in the last decade. At the same time, there are some pharma companies who are growing faster than the average growth rate of the domestic drug market. For instance, at a pace of 16 per cent, Lupin is one of the fastest growing drug makers in the Indian market.