Pharma exports to reach us$ 25 billion by 2014-15
With India being the largest exporter of generic formulations, the Indian pharma exports are expected to reach US$ 25 billion by 2014-15.
Mumbai, November 21, 2012: The Indian pharmaceutical exports are expected to reach US$ 25 billion by the end of 2014-15. “India is one of the top five generic drugs exporters, and maintains a positive trade balance, meeting over 90 per cent of the country's requirements,” said Mr Rajeev Kher, Additional Secretary, Department of Commerce, Ministry of Commerce and Industry.
It is worth noting here that Indian pharmaceutical sector is currently growing at a compound annual growth rate (CAGR) of 17 per cent for the past four years and is already worth US$ 17 billion till October 2012.
Indian pharma exports are headed for a very healthy growth in generic and API exports and the industry is currently focused on improving the foothold of traditional medicine exports.
At the same time, the Indian pharma industry is also covering a lot of ground in the biopharmaceuticals at a rapid pace. The generic market segment is growing at a fast pace as compared to the branded drug segment. Mr Kher also said that the market size of drugs losing patent protection was US$ 270 billion in 2011 and is expected to go to US$ 430 billion by 2016.