Published on December 4, 2017
The Indian pharmaceutical market size is expected to grow to US$ 100 billion by 2025, driven by increasing consumer spending, rapid urbanization, and raising healthcare insurance among others.
The Indian government has taken many steps to reduce costs and bring down healthcare expenses. Introduction of generic drugs into the market has remained in focus and is predictable to help the Indian pharmaceutical companies.
As per recent news,the Supreme Court began debating a Central government plea to uphold a ban on the sale of 344 popular fixed-dose combination drugs, which was overturned by the Delhi High Court. The government halted the sale of drugs such as Corex, Phensedyl, Saridon, D’cold, Benadryl and Vicks Action 500 by a notification dated March 10, 2016.
Drug major Cipla said its subsidiary InvaGen Pharmaceuticals Inc has received final approval from the US health regulator for Sevelamer Carbonate tablets, indicated for the control of serum phosphorus in adults with chronic kidney disease (CKD) on dialysis.
Growing per capita sales of pharmaceuticals in India offers ample opportunities for players in pharma market. Market players said that economic prosperity would improve affordability for generic drugs in the market & improve per capita sales of pharmaceuticals in near future.