India is projected to be the third largest pharmaceutical market (after the US and China) by 2020. Historically, the non-regulated structure of the market has enabled Indian companies to build a strong market share. But with changing market dynamics, companies have to adopt a new strategic approach to grow and compete. Edelweiss surveyed various markets, encompassing all zones and tiers to understand these changing dynamics.
Also see | Upward Trajectory (PDF)
It took a sample of 27 cities, representing a mix of all geographies within India, and met at least 100 distributors across cities. Here are some of the findings.
The Indian pharmaceutical market has historically posted a 10% compounded annual growth rate over
FY01-09. However, in the past two years market growth has been on a high at 15-16%, indicating a significant expansion in the overall market base.
Graphic by Yogesh Kumar/ Mint