The Indian pharmaceuticals market stands third in terms of volume and 14th largest in terms of value. In the Global Pharmaceutical Industry the total production of the sector is 20% in terms of vol. and 1.4% in terms of value. India is the leading supplier of generic drugs globally with the Indian generics accounting for 20 per cent of global exports in terms of volume . One of the major characteristics of this industry is that it is highly fragmented.
The annual turnover of the Indian herbal medicinal industry is about Rs. 2,300 crore as against the pharmaceuticalindustry’s turnover of Rs. 14,500 crores with a growth rate of 15 percent. The export of medicinal plants and herbs from India has been quite substantial in the last few years. India is the second largest producer of castor seeds in the world, producing about 1,25,000tonnes per annum.
1. PHARMACEUTICAL SECTOR 1.1. INTRODUCTION The current chapter will highlight the basic factors governing the financial significances and importances of pharmaceutical industries in Pakistan. It briefly discusses the introduction of pharmaceutical sector in global market vis a vis pharmaceutical sector of Pakistan and its role in economics. 1.2.
In the rest of the world markets, it has a strong ground network of 600 committed field force in 600 countries, with a pipeline of 2600 products of which 1600 are registered and marketed. There is a 3300-person strong sales team in India distributing through 2400 stockists. The firm is now poised at a stage of rapid growth across geographies spanning Russia and CIS countries, China and South East Asia, Africa and Latin America, where the firm is rapidly emerging as the branded generic company of choice. Domestically, Sun Pharma, commands a 4% market share and is among the largest pharmaceutical companies in the country. The company is headquartered in Mumbai,
Discovery, development and prescribing drugs save people’s life or improve quality of their lives. Proper using of medicines reduces the need for surgical intervention and prevents or decreases the length of time of hospitalization and therefore manages the healthcare costs. Pharmaceutical industry is one of the most profitable and critical industries for each country. The market of the industry includes enormous portion of population, therefore pharmaceutical industry represents a considerable economic weight and is a strong driver of local and national economy. It employs a large number of people directly and indirectly, and makes a huge contribution to the balance of trade each year.
The Indian pharmaceutical industry consists of manufacturers of bulk drugs and formulations. Bulk drugs also include the active pharmaceutical ingredients (APIs), which are used for the manufacture of formulations. According to recent estimates, the proportion of formulations and bulk drugs is in the order of 75:25. There are believed to be more than 60,000 formulations manufactured in India for more than 60 therapeutic segments. More than 85% of the formulations produced in the country are sold in the domestic market.
About $12 billion is spend on gifts and payment to physicians by pharmaceutical companies every year. This tends to impair the judgement of the HCP due to conflict of interest between patient safety and personal gain. India is 3rd largest pharmaceutical industry in terms of volume and world’s 13th largest by value representing nearly half the Rs.93000 crores market. It is even complicated by a highly privatised health system, an uneducated customer base, and the fact of "cross practice”, though it is illegal in most states in India. The sale of drugs was influenced by aggressive marketing strategies which included incentives to chemists.
CHAPTER-1 INTRODUCTION The Indian tourism and hospitality industry has led to a significant growth among the service sector in India.It acts as an employment generator, a significant source of foreign exchange for the country as well as its its economic activity helps the local and host communities.The brand value to the consumers, technological development, growth in the emerging markets and human capital retention has shaped the tourism industry.Travel and tourism in India has a huge potential for growth as medical tourism in India has become a hit. It has become a major social phenomenon that is driven by social, religious, recreational, knowledge seeking and business interests and motivated by the human urge for new experience, adventure,
Looking at the global perspective and the global environment in the pharmaceutical industry, it can be seen that Indian pharmaceutical companies are major outsourcing hubs for pharma companies worldwide. There is a lot of R&D going on in India and thus there have been number of innovations that have come up at each and every step of the value chain in the industry. In the near future we will see that Indian companies are not only an outsourcing platform but also competitors to the global firms, becoming a threat to them. The changes in the environment are occurring at a very high pace with regard to foreign companies in the west slowing down with new patents and with the reduction in innovation there are very few drugs which will be able to