Growth Scenario in Pharmaceutical Sector

Abstract

Pharmaceuticals has emerged as one of the leading industries, with the domestic market showing an unprecedented growth of around nine percent. This dramatic growth in the Indian pharmaceutical industry can be attributed to several factors such as growing middle class population, rapid urbanization, increase in lifestyle-related diseases and acceptance of health insurance. Besides, the product patent regime has provided ample support to the industry to sustain its growth pace despite the global economic downturn. This article will help the readers to understand the present position and growth prospect of the Indian Pharmaceutical Sector.