Indian Domestic Pharmaceutical Market Poised to Grow

The Indian domestic pharmaceutical market is forecasted to grow at a CAGR of around 16% by FY 2013-14, says RNCOS in its latest research study.

Noida, India, December 23, 2009 --( According to their recently updated research report "Indian Healthcare - New Avenues for Growth", the pharmaceutical market in India has been witnessing healthy growth rate despite growing concerns over lack of standardization and proper government support. Future of this market also seems bright, with projected CAGR of around 16% for the period 2010-2013. Their report has found that growth in the Indian pharmaceutical industry is accredited to low drug production costs (much lower than western countries) and high growth rate of contract manufacturing.

Their research also indicates that increasing prevalence of chronic diseases and rising income levels have contributed to the domestic pharmaceutical market growth. In terms of health insurance penetration, the country lags behind many developed and developing nations, but gradually making progress with spreading awareness about health insurance benefits among people. Although the market is expected to make great headways in coming years, there are still several challenges that may hinder growth in the healthcare market. All these obstacles have been thoroughly covered in the report.

They have done an extensive research and prudent analysis of the Indian healthcare market in order to understand factors that will continue to serve as growth drivers for the market over the forecast period. They have identified that various factors such as growing per capita healthcare spending and transition in demographic profiles have had a positive impact on the healthcare market. The report also gives insight into the role of private players in infusing growth in the Indian healthcare market.

"Indian Healthcare - New Avenues for Growth" provides thorough analysis of the Indian healthcare industry and its different segments like hospital services, pharmaceuticals, medical devices, medical tourism, medical textiles, outsourcing services, infrastructure and path labs. It gives deep insight into each of the industry parameters like key market drivers, emerging sectors and market restraints. Most importantly, the report gives future outlook for all-important aspects of the industry considering the effects of global economic crisis on base drivers, opportunities and challenges faced by the healthcare industry.

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About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

Shushmul Maheshwari
Chief Executive
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