Pharma The Surge of the Indian Pharmaceutical Sector
The Indian domestic pharma market is estimated at Rs 90,400 crore (US$ 15 bn) ending FY15 with a growth of 12 per cent. It is estimated that almost 27-30 per cent of India's pharmaceutical market is catered to by multinationals operating in India and around 460,000 people are estimated to be employed in the pharmaceutical industry.
The top 20 companies account for 64 per cent of the market. 8 out of the top 20 are growing faster than the market, with Macleoids topping the list with 23.4 per cent growth followed by Intas with 21.3 per cent, Cipla 19.7 per cent, Glenmark over 19.4 per cent growth and Mankind 19.3 per cent. Besides, India's pharma exports stood at US$ 15.3 billion in 2014-15. There were M&A activities in the industry that accounted for $ 5.78 bn, an increase of around 44.5 per cent in comparison to 2013.
The Government's continuous and concerted efforts have resulted in the reach of modern medicine to almost all corners of the country, and its measures have resulted in the steady decline of communicable diseases. The successful eradication of polio, small pox, etc can be attributed entirely to the tireless efforts of the Government. The Ministry of Health and Family Welfare is responsible for the implementation of national health and family welfare programs such as the prevention and control of major communicable diseases, maternal and child health.