£810 / $1295 / €985
The outlook for India's patented drug market is not promising. The primary reason why sales of these products will not grow swiftly is the country's intellectual property (IP) regime, which is well below international standards. It does not recognise incremental improvements and as such few medicines receive exclusivity. The outlook is also restricted by the government's apparent desire to spend as little as possible on medical services. Whileprudenceis virtuous in an indebted global economy, India still needs to spend the 'market rate' for healthcare infrastructure, doctors, nurses, medical devices and innovative pharmaceuticals. Without the necessary therapeutics, healthcare rofessionals, hospitals andclinics, India's healthcare indicators will not improve as desired by the authoritiesand, more importantly,bypatients and their families.
Headline Expenditure Projections
Pharmaceuticals: INR730.0bn (US$15.6bn) in 2011 to INR839.4bn (US$15.7bn) in 2012; +15.0% in local currency terms and +0.3% in US dollar terms. Our US dollar forecast is significantly lower than in Q312 due to weakening of the rupee.
Healthcare: INR3,353.7bn (US$71.9bn) in 2011 to INR3,746.3bn (US$70.0bn) in 2012; +11.7% in local currency terms and -2.6% in US dollar terms. Our US dollar forecast is significantly lower than in Q312 due to weakening of the rupee.
Medical devices: INR138.9bn (US$3.0bn) in 2011 to INR153.3bn (US$2.9bn) in 2012; +10.4% in local currency terms and -3.7% in US dollar terms. Our US dollar forecast is significantly lower than in Q312 due to weakening of the rupee.
The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.