Indian pharma companies need to tap unexplored markets to boost revenues – Business Standard News
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Indian pharmaceutical companies have capitalised on export opportunities in regulated and semi-regulated markets and pharma exports from India grew at a CAGR in excess of 20% from 2006 to 2012. Currently, India is the third-largest exporter of Active Pharmaceutical Ingredients (APIs). Indian pharma exports are expected to bring in an estimated $25 billion by the end of 2014.
Changes in the global landscape brought about by the increasing costs of healthcare and drying R&D pipelines have been able to create a number of opportunities for Indian players. The US and EU markets have been the largest importers of Indian products, but increasing scrutiny in these geographies is threatening export revenues and Indian companies would have to look at risk mitigation strategies. Further, the global environment, both from a regulations and a business perspective is changing rapidly and Indian pharmaceutical companies will be required to adapt their business models and operating strategies accordingly. It would be upon these companies to choose the most adequate lever to tap into newer markets as a part of their expansion strategy in the future. Understanding market dynamics will be imperative in determining the extent of growth and reach that Indian companies will be able to achieve.
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