Tapping emerging opportunities

Tapping emerging opportunities
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First Published: Tue, Nov 30 2010. 11 42 PM IST
Updated: Tue, Nov 30 2010. 11 42 PM IST
India’s pharmaceutical market is expected to grow more than fourfold to $55 billion by 2020 from $12.6 billion in 2009, with the potential to expand to as much as $70 billion provided the industry puts in “supernormal efforts” to tap the emerging opportunities, according to a report prepared by consultancy McKinsey and Co.
Also See | Tapping emerging opportunities (PDF)
Opportunities (PDF1), (PDF2)
Strong economic growth, rising incomes, a steady rise in affordability, and a jump in market access and insurance coverage, as well as higher government and private sector spending on healthcare, will power the growth that will put India’s pharmaceutical market behind only that of the US, Japan and China, says the report. Pricing controls and an economic slowdown could wean away investments and hamper growth, but even in that pessimistic scenario, the market is estimated to grow to $35 billion by 2020.
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First Published: Tue, Nov 30 2010. 11 42 PM IST