India To Witness Higher Growth In Pharma In Next 5 Years:
While the global pharmaceutical market is expected to remain in single digit
growth for the next five years, the pharmaceutical industry in 'pharmerging'
countries including India, Brazil, Turkey, Mexico, China, Russia and South Korea
are expected to grab more market space with focus in speciality segments, says
Graham Lewis, vice president, Global Pharma Strategy, IMS Health.
In his special address in the inauguration of 'Pharmaceuticals: Market
Prognosis - 2012', seminar organized by Federation of Indian Chambers of
Commerce and Industry (FICCI), he said that while the top 10 companies in global
pharmaceutical industry are failing to keep their market presence in context of
the generic market, the companies from the pharmerging countries are expected to
grab a better presence in the global pharma industry in the next five years.
The companies in these countries are already focusing on specialty products
like oncology, asthma and COPD, anti-ulcerants, lipid regulators etc. Specialist
driven market is currently counted as around two-third of the global pharma
market and oncology is the numero uno in specialty market. The companies should
further focus on specialty products and should have a wider idea than simply
going for the overall generic market, he added.
There is increasing generic penetration even in generic dominant countries.
The Indian companies should stick to definite plans in selecting segments for
business, as focus on limited area would deliver better results than going for
wide sectors to get a lesser benefit in competitive market, averred Lewis.
(Ref: The Chronicle Pharmabiz dated 14, February 2008)