The Indian pharmaceutical industry is estimated to be worth USD 21.5 billion as of 2009-10 and is expected to grow at a CAGR of 16-18 percent during 2009-2010 to 2014-15 to reach USD 43-46 billion.
There is a huge opportunity for Indian generics players with many blockbuster drugs going off-patent in the next five years. The sub-sectors such as biopharmaceuticals and Contract Research and Manufacturing Services (CRAMS) are expected to become the new frontiers of growth. India is increasingly being looked at as a preferred destination for clinical trials and other services.
With such high growth predicted for the industry, the challenges the industry will have to overcome will be at a global level.