Pharmaceutical
companies in India play a major role in the growth and development of Indian
economy. There are many pharmaceutical companies operating in India. Cadila
Healthcare Ltd. (Zydus Cadila), Finecure Pharmaceuticals Ltd, Claris
Lifesciences Ltd., etc. are some of the leading pharmaceutical companies in the country.
Over
the last few years, number of pharmaceutical companies in India has increased
significantly. Factors such as increasing rate of chronic diseases, medical
facilities, rapid rise in health insurance, etc. are some of the major reason
for such increase in the quantum of pharmaceutical companies in India.
It
should be noted that pharmaceutical market of India is one of the largest in
the world. At present, India is ranked among top five emerging pharmaceutical
markets in the entire world. In terms of volume, the pharma industry in India
is third largest in the world, and 14th largest in terms of value. During
the last five year, the industry has grown at a Compound Annual Growth Rate (CAGR)
of around 12.5%. During FY2012-17, the industry is expected to grow at a CAGR
of 15.1%.
During
the month of May 2013, the Indian pharma market (domestic) has reported total
sales of (US$ 1.03 billion) Rs. 6,370 crore. In addition, as per the latest
data issued by Department of Industrial Policy and Promotion (DIPP), FDIs worth
US$ 11,304.91 million has been attracted by cumulative drugs and
pharmaceuticals sector of India between the period April 2000 to April 2013.
According to PV Appaji, Director General, Pharmexcil, the pharmaceutical
exports of India increased to US$14.6 billion during 2012-13 as compared to US$
13.2 billion in the preceding year.
In
order make India leading destination for innovation and discovery of end-to-end
drug, a 'Pharma Vision 2020' has been prepared by the Department of
Pharmaceuticals. The department also facilitates research and development
(R&D) for the list of top 10 pharma companies in India by providing
internationally competitive manpower and world-class infrastructure.
