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27 Aug 2012

India's pharma market 'booming' despite problems

The latest report from GlobalData predicts rapid expansion of India's pharmaceutical industry, despite the nation's numerous healthcare problems.

The pharmaceutical market in India continues to enjoy rapid growth, despite a number of issues that continue to affect the industry.


Valued at $15 billion in 2011, the market is expected to soar to $54 billion by 2020, according to the latest research by market analysts GlobalData.


Much of the market's anticipated compound annual growth rate (CAGR) of 15.4 per cent during this period can be attributed to the export sector, the company said.


In 2010, the sector was valued at $8.8 billion, accounting for two-fifths of India's pharmaceutical industry turnover.


However, GlobalData highlighted the numerous healthcare problems that remain in India, "ranging from inadequate policy monitoring to the widespread lack of health insurance".


Figures indicate that 80 per cent of the population did not have any form of health cover in 2010, while the country's healthcare infrastructur

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