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Research and Markets: India Pharmaceuticals and Healthcare Report - Q4 2009 Edition
Monday November 2, 06:15 PM
Research and Markets (http://www.researchandmarkets.com/research/051a60/india_pharmaceutic)
has announced the addition of the "India
Pharmaceuticals and Healthcare Report Q4 2009" report to their
offering.
The India Pharmaceuticals and Healthcare Report provides industry
professionals and strategists, corporate analysts, pharmaceutical
associations, government departments and regulatory bodies with
independent forecasts and competitive intelligence on the India's
pharmaceuticals and healthcare industry.
In the Q409 update of BMI's India Pharmaceuticals & Healthcare report,
we have introduced our 10-year Drug Expenditure Forecast Model. The
country's US$14.23bn pharmaceutical market is forecast to reach a value
of US$44.99bn by 2018, representing a compound annual growth rate (CAGR)
of 12.20%. The main drivers of growth are a booming economy, increasing
access to medicines, more investment in healthcare infrastructure and a
greater incidence of chronic diseases.
India's intellectual property (IP) regime is far below international
standards; however, there are signs that this situation is changing. In
August 2009, health activists and some generic drug companies severely
criticised the Indian Commerce Ministry's decision to accept the
Mashelkar committee's recommendations to grant patents to new drugs. The
adoption of the recommendations indicates that new patents will be
allowed on incremental innovation under Section 3(d) of the Indian
Patent Act, in the event that the candidate drug offers enhanced
therapeutic efficacy. Patent experts supported the decision as it is in
line with international norms.
Pharmaceutical regulations are rapidly improving in India. In July 2009,
the Indian Department of Biotechnology (DBT) planned to create a
separate regulator for the biotechnology sector. The National
Biotechnology Regulatory Board would be responsible for identifying and
controlling drugs and vaccines which are developed from natural sources.
That same month, the Drug Controller General of India (DCGI) identified
six research and development (R&D) centres in which new drugs will be
tested before they are launched. Meanwhile, in May 2009 the DCGI decided
to withdraw the powers given to state level regulators to issue export
quality licences, which are called Certificates of Pharmaceutical
Products. The move was designed to centralise and standardise procedures.
Unfortunately, India's pharmaceutical industry is gradually developing
an undesirable reputation for producing sub-standard medicines. During
Q309, regulators in the US and UK have blacklisted select batches of
drugs made by firms based in the South Asian country. While the scale of
the seizures was small, BMI believes the implications are huge. Quality
of manufacturing must improve, or demand for Indian-made pharmaceuticals
will decrease.
Due to the absence of some form of government-provided universal
healthcare, India's health insurance market is one of the most promising
sectors in the world. This was underlined in June 2009, when India based
Religare Enterprises signed an agreement with Swiss Re to establish a
joint venture with an initial investment of US$100mn. Operations are
expected to start in 2010. At that time, Swiss Re was already present in
the India health insurance market, holding a 26% stake (the maximum
permissible) in TTK Healthcare Services.
Key Topics Covered:
EXECUTIVE SUMMARY
SWOT ANALYSIS
INDIA'S PHARMACEUTICAL BUSINESS ENVIRONMENT RATINGS
INDIA - MARKET SUMMARY
REGULATORY ENVIRONMENT
INDUSTRY TRENDS AND DEVELOPMENTS
INDUSTRY FORECAST SCENARIO
COMPETITIVE LANDSCAPE
COMPANY PROFILES
COUNTRY SNAPSHOT: INDIA DEMOGRAPHIC DATA
BMI METHODOLOGY
Companies Mentioned:
Pfizer
GlaxoSmithKline (GSK)
Novartis
Sanofi-Aventis
Merck & Co
Eli Lilly
Ranbaxy Laboratories
Cipla
Dr Reddy's Laboratories
Aurobindo Pharmaceutical
Venus Remedies
Granules India
Nicholas Piramal India
Zydus Cadila
For more information visit http://www.researchandmarkets.com/research/051a60/india_pharmaceutic
Contact:Research and MarketsLaura Wood, Senior Manager,press@researchandmarkets.comU.S. Fax: 646-607-1907Fax (outside U.S.): +353-1-481-1716
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