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India To Witness Higher Growth In Pharma In Next 5 Years: Expert

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)