Growth of pharmaceutical industry
India is one of the highly populated countries and in such situation it becomes very much important to handle the healthcare.
A study has found that the pharmaceutical industry of India contributes only 10% of volumes and it is expected that a growth will be seen at a steady rate. The volume will reach 14.5% to reach the level of 55 billion dollars in 2020.
India will be amongst top 3 pharmaceutical markets as incremental growth and 6th largest in absolute value by 2020 from the revenue of the pharmaceutical industry, India share 72% from generic drugs, 19% from OTC medicines and 9% from patented drugs.
The demand of the pharmaceutical products is increasing with the increasing population. Thus there is a need for setting up the healthcare service provider for the pharmaceutical products in India.