In the past few years, Indian Pharmaceutical industry has grown by leaps and bounds. Several factors have acted as a driving
force for this ? a) rising household income levels, b) increasing prevalence of lifestyle related diseases, c) improving healthcare
infrastructure/delivery systems. Not only MNC?s but also the domestic market has emerged enormously making India a lucrative
destination of clinical trials for global giants. Indian pharmaceutical market grew at 15.7% during December 2011. The quality of
the filings by major Indian companies has also significantly improved over the years. The Pharmaceutical industries are growing
at a fast pace registering an annual growth of 8-9%. Considering the advantages like globalisation, information & technology,
competent workforce, legal & financial framework that India has, the International Pharmaceutical Industry is finding greater
opportunities in India. This paper presents a review on Pharmaceutical market in India with respect to its current status, generic
market, government initiatives, challenges and its future perspectives.
Ms. Hitesh Badgujar is pursuing his Masters in Drug Delivery systems at Institute of Chemical Technology, Mumbai.
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