Market Report, "India Pharmaceuticals & Healthcare Report Q3 2011", published

Recently published research from Business Monitor International, "India Pharmaceuticals & Healthcare Report Q3 2011", is now available at Fast Market Research
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July 10, 2011 - PRLog -- BMI View: India's pharmaceutical market is failing to fulfil its potential. Positive attributes include a huge population, a booming economy, a low-cost generic drug programme and relative political stability. However, sales of medicines are being restricted by faltering urbanisation, massive income disparities, insufficient state involvement in healthcare and, most importantly, a sub-standard intellectual property regime.

Headline Expenditure Projections

*  Pharmaceuticals: INR613bn (US$13.4bn) in 2010 to INR717bn (US$16.0bn) in 2011; +16.9% in local currency terms and +19.9% in US dollar terms. Our long-term forecast forecast has been revised up following a re-assessment of historic data.
 * Healthcare: INR2,702bn (US$58.9bn) in 2010 to INR3,001bn (US$67.1bn) in 2011; +11.1% in local currency terms and +14.0% in US dollar terms. Our forecast has been revised up moderately due to analyst intervention.
 *  Medical devices: INR132bn (US$2.89bn) in 2010 to INR153bn (US$3.43bn) in 2011; +15.8% in local currency terms and +18.9% in US dollar terms. Our forecast has been revised up slightly due to analyst intervention.

Full Report Details at

Business Environment Rating: India is underperforming compared with its regional peers. The country's score has remained static over the previous two quarters and a decrease is possible in the Q411 update of this report, due to a recent downward revision of its pharmaceutical market. India scores above the regional average for Industry Rewards and Industry Risks, but below the average for Country Rewards and Country Risks.

Key Trends & Developments

*  In May 2011, The Drugs Controller General of India (DCGI) put a temporary halt on marketing approvals for new drugs in key therapeutic segments. The DCGI has announced that approvals will be provided after the country's medicine regulator streamlines a new system which will establish a 10-member New Drug Advisory Committee (NDAC).
 *  In April 2011, the Indian government was planning to publish details of every medicine patented in the country on its website in the next 2-3 months, according to P H Kurien, Controller General of Patents. The move is part of the government's transparency drive to enable Indian pharmaceutical companies to challenge patent holders and market generic version of high-priced patented drugs.
 *  In March 2011, India's Finance Minister Pranab Mukherjee announced the roll back of the proposed 5% service tax on healthcare, as suggested in the 2011/12 federal budget proposals. The minister took the decision following criticism from the opposition and medical fraternity in the country. The minister previously proposed a 5% service tax on air-conditioned hospitals with more than 25 beds and on diagnostic services.

BMI Economic View: With India's FY2010/11 real GDP growth coming in at 8.5% (a fraction below our 8.6% target), ywthrc we now believe the risks to our 7.8% FY2011/12 projection lie on the downside. Investment activity is unlikely to stage much of a comeback until we see clear signs of a monetary pause. We have yet to see much of a meaningful re-ignition in the government's reform drive. Private consumption growth will also continue to grind lower as higher lending rates reduce demand for 'big ticket' items.

BMI Political View: The state election results offered a mixed bag for the ruling United Progressive Alliance (UPA) and its dominant member the Indian National Congress (INC), but we note that they could have been much worse given its recent troubles with corruption and high inflation. Attention will now turn to next year's state ballots, which include that of Uttar Pradesh - India's most populous state with an estimated population of 200mn. The contest will see regional heavyweight Mayawati of the Bahujan Samaj Party (BSP) go head-to-head with INC member (and premier-in-waiting) Rahul Gandhi. The results could determine whether the INC has sufficient political capital to strengthen its mandate in the next general elections due in 2014.

Partial Table of Contents:

SWOT Analysis
- India Pharmaceutical Industry SWOT
- Political SWOT
- Economic SWOT
- Business Environment SWOT
Business Environment Ratings
- Table: Asia Pacific Pharmaceutical Business Environment Ratings For Q311
- Rewards
- Risks
India - Market Summary
Regulatory Environment
- Table: Responsibilities Of India's Department Of Pharmaceuticals
- Pharmaceutical Advertising
- Pharmacovigilance
- IP Regime
- Table: History Of The Indian Patent System
- Patent Disputes
- Counterfeit Medicines
- Pricing And Reimbursement
Industry Trends And Developments
- Epidemiology
- Healthcare Sector
- Healthcare Funding
- Healthcare Insurance
- Research And Development
- Clinical Trials
- Recent Developments In The Clinical Trials Industry
- Active Pharmaceutical Ingredients
- Biotechnology Sector
- Traditional Medicines
Industry Forecast Scenario
- Overall Market Forecast
- Table: Pharmaceutical Sales Indicators 2007-2015
- Key Growth Factors - Industry
- Table: Health Expenditure Indicators 2007-2015
- Key Growth Factors - Macroeconomic
- Table: India - Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2007-2015
- Patented Drug Market Forecast
- Table: Patented Drug Sales Indicators 2007-2015
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2007-2015
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2007-2015
- Pharmaceutical Trade Forecast
- Table: Pharmaceutical Imports & Exports Indicators 2007-2015
- Medical Device Market Forecast
- Table: Medical Device Sales Indicators 2007-2015
- Other Healthcare Data Forecasts
- Key Risks To BMI's Forecast Scenario

Full Table of Contents is available at:

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets.  BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports.  Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports.  View more research from Business Monitor International at

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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