McKinsey Report: Indian drug market to reach $20B
Here is another story on the growth of medical technology consumption and production in emerging regions. A few days ago we had a related post (Trends in Global Pharmaceutical Manufacturing). According to the McKinsey report, the rural health services sector will provide significant growth in the demand for pharmaceuticals.
India’s fast-growing economy, expansion in health care insurance and infrastructure, to grow national drug sales to triple by 2015. The report said India will undergo a “significant transformation” to become one of the top 10 pharmaceutical markets in the next decade.
In addition, improvements in medical infrastructure – like rural hospitals and clinics – would contribute to 20 percent of the projected growth, while the strengthening of health insurance within the country would contribute to 15 percent of the growth, the report said. Full news release at CNN Money.
Pharma boom: Drug market to hit $20 bn by 2015, The Economic Times
Table: Global Insight, Link
KPMG Pharmaceutical Practice Report: The Indian Pharmaceutical Industry, (PDF)
India: The Next Pharma Superpower?, IPA Convention 2007, Trade Group
Pharma & Biotech in India Presentation, (PDF)