CPhI India Report Forecasts Growth Markets

CPhI Worldwide, organized by UBM Live, has released the findings of its Pharma Insights: India report providing an analysis of the India pharma market. Highlights from the report claim India’s biggest companies will see growth in contract research and manufacturing services (CRAMS) for patented products as trust in regulatory and quality standards increases. India will also see increasing clinical trial supply and advanced development work, according to the report.
 
Additionally, the report notes India’s biggest players will grow their technology base through overseas acquisitions and partnering with big pharma for R&D and that R&D expenditures by India’s top 30 pharma companies rose 20%, with investments focused on novel drug delivery systems. Also, some of India’s biggest players are actively investing in R&D facilities abroad, such as Sun, Piramal, Lupin and Cipla.
 
Geographic aspects of the report point out the future growth potential in Japan, where Indian companies currently have limited presence, but is predicted to rise rapidly with the use of generics. Also, in  2015, there will be a significant number Indian companies entering the African market, with growth predicted at 25% to 30% by volume per year.
 
Finally, biologics and biosimilars will represent 15% of India’s market value by 2020 and its API producers have increasingly started to shift towards high value low volume work with complex chemistry and IP challenges, according to the report.
 
“CPhI has been a key presence in India for a number of years and the event is an essential cog in internationalizing this pharma hub. What’s been most impressive is the ability of companies here to constantly develop themselves through new services and technologies. I would like to thank all our partners and the companies involved for their insights in this report. These findings and trends clearly show India is cementing itself as the global center of generics and manufacturing innovations. Over the next few years, many of the companies present at CPhI India 2014, will grow into global entities supplying both western and developing markets,” said Rutger Oudejans, brand director Pharma at CPhI.