Published By : 04 Jan 2016 | Published By : QYRESEARCH
It comes as no surprise for the global pharma industry, which was a US$300 bn per year industry till 2015, that the growth factors are as high as ever. The industry could even cross US$400 before 2019 and the top ten pharma companies are right there to make the most of it. The size of a company in the global pharma industry is judged by the amount they spend on marketing initiatives and research and development of new potential drugs and medical breakthroughs. Most of the industry has recently been following the biopharmaceutical trend, along with personalized therapy programs.
Most categories in the global pharma industry are showing a healthy rate of growth. The global API market is progressing a CAGR of 6.50% between 2014 and 2020. This market – as are other pharma-related markets – is expected to benefit widely from the impending patent expiration of major pharma products. The HPAPI market is no exception to this trend, and is expected to be valued at more than US$ 25 bn by 2023, through a CAGR of 7.8% between 2015 and 2023. Perhaps one of the bigger pharma retail sectors of today is the global ePharmacy market. ePharmacy is expected to thrive at a high CAGR and eventually be valued around US$128 bn in 2023. This market is primarily driven by the growing number of online websites that are selling a wide range of drugs, along with the shifting trends of consumers of shopping at pharmaceuticals towards using the Internet to shop for drugs.
On the upside, the Indian pharma industry’s stand over the issue of patent rights against mounting pressures by the U.S. can be seen as good when it comes to providing cheap medical facilities and drugs for those who really need it, including patients of AIDS, various cancers, and other life-threatening illnesses. The Indian government has been aware of the rising healthcare costs and other trends of the West and has attempted to keep things within an affordable range for most consumers.
On the flipside is the staggering number of warnings issues against major pharma names in India. After Sun Pharma’s battle with the USFDA, the latest name to be given a warning is Cadila Healthcare. Cadila’s stocks fell 16% soon after news broke of a warning issued by the USFDA.