India Pharmaceutical Industry
The Indian pharmaceutical industry is estimated to grow at 20% compound annual growth rate (CAGR) over the next five years, as per India Ratings, a Fitch Group company.
Gujarat clocked the highest growth rate in pharmaceuticals market at 22.4% during November 2014, surpassing the industry growth rate, which grew by 10.9%.
Also, growing at an average rate of about 20%, India's biotechnology industry comprising bio-pharmaceuticals, bio-services, bio-agriculture, bio-industry and bioinformatics may reach the $7 billion mark by the end of 2015.
Biopharma is the largest sector contributing about 62% of the total revenue, with revenue generation to the tune of over $2.03 billion.