India's pharma market worth $9.77B in 2008
The Indian pharmaceutical industry grew at a rate of 13% during 2003-2007, driven by rising consumption levels domestically and strong demand from export markets. In 2006-07, the Indian market for medicines reached $8.16 billion and is estimated to be worth $9.77 billion in 2007-08. At present, India's pharmaceutical industry constitutes 1%-2% of the global sector market in value terms, according to a new report added to Dublin, Ireland-based Research and Markets' offerings.
Generic drug-producing companies, including India's Ranbaxy and Dr Reddy's, as well as others such as US firms Barr and Mylan, Israel's Teva and Iceland's Actavis have become dominant as they keep launching more and more generics.
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