Huge opportunities for Indian generics drug sector ramping up in USA; report

Backed by factors like patent expiries of blockbuster drugs and strong demand, the Indian generics drug market will increase at a compound annual growth rate (CAGR) of 17% between fiscal year 2011 and FY 2013, according to a new report from business analysts RNCOS, titled Booming Generics Drug Market in India.

The Indian generics drug market has been growing at a rapid pace over the past few years. Despite the recession, the market continued to perform well and reached an estimated mark of $17 billion in FY 2010. Factors including patent expiries, increasing awareness and access, and private investment are the prominent growth drivers that will lead Indian generics market to grow at a CAGR of around 17% between FY 2011 and FY 2013.

RNCOS has found that the USA is the key destination for expanding Indian drug manufacturers, as a large number of drugs are scheduled to go off patent. In 2012, drugs worth US$ 35.4 Billion are likely to lose their patents in the USA. This creates a huge opportunity for Indian companies, which already have enjoyed 10.5% share in the US generics market. In this regard, our report analyzes the opportunity for Indian drug manufacturers in key regions of the world.