Indian Pharmaceutical Contract Manufacturing Market Research and Forecast 2018-2023

Indian Pharmaceutical Contract Manufacturing Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023

Pharmaceuticals companies have increasingly outsourced non-core activities with an aim to cut cost and focus on their capital management and management of research and marketing & sales. Many pharmaceuticals companies partnered with Indian pharmaceuticals contract manufacturer to manufacture various drugs and active pharmaceutical ingredients (API). For instance, GlaxoSmithKline Pharmaceuticals has started work on its largest greenfield tablet manufacturing facility in Vemgal in Kolar district, Karnataka, with an estimated investment of Rs 1,000 crore ($ 149.11 million). India stands 3rd in the pharmaceutical market in terms of volume and 13th in terms of value. According to Indian Brand Equity Foundation (IBEF), Indian Pharmaceutical sector is estimated to account for nearly 3.1 to 3.6% of the global pharmaceutical industry in terms of value and 10% in terms of volume. It is expected to reach $55 billion by 2020 and $100 billion by 2025. India is the major provider of generic drugs globally. India’s generics accounting for 20% of global exports (in volume terms). Major factors contributing to the growth of the Indian pharmaceutical contract manufacturing market include increasing investments in the Indian pharmaceutical sector and government initiatives to promote the pharmaceutical sector and increasing trend of outsourcing of healthcare services. Indian Government has plans to incentivize bulk drug manufacturers, including both state-run and private companies, to encourage ‘Make in India’ programme and reduce dependence on imports of API, nearly 85% of which come from China. In addition, increasing pressure to minimize healthcare cost and availability of skilled workforce for low cost are another significant factor contributing in the market growth. However, stringent government regulations hinder the market growth. Moreover, rising demand for low cost services and increasing drug discovery is expected to create enormous opportunities for the Indian pharmaceuticals contract manufacturing market in near future.

Browse full report at: https://www.omrglobal.com/industry-reports/indian-pharmaceutical-contract-manufacturing-market/

The pharmaceutical contract manufacturing market can be segmented on the basis of category, type, product, and services. On the basis of category, the market is divided as human-based drugs and animals-based drugs. Based on type, the market is segmented into sterile manufacturing and non-sterile manufacturing. Based on the product, the market is bifurcated into OTC drugs, API, finished dosage forms include solid dose, liquid dose and injectable dose, and others such as nutritional products and packaging. Based on the services, the market is sub-divided as manufacturing services, non-clinical services and research and development. Among services, manufacturing segment is expected to be the highest revenue generating segment owing to growing medical device manufacturing. The growth of medical device manufacturing in emerging economies is expected to boost the manufacturing services segment.

Some of the key players operating in the Indian pharmaceutical contract manufacturing market are Aurobindo Pharma Limited, Jubilant Life Sciences Ltd. Dr Reddy’s Laboratories Ltd, Finecure Pharmaceuticals Limited, Gracure Pharmaceuticals Ltd., Jubilant Life Sciences Ltd. and Korten Pharmaceuticals Pvt. Ltd. These players adopt various strategies to sustain in the competitive market, such as merger & acquisitions, expansions, joint ventures and product development and partnership and collaboration. For instance, the major pharmaceutical companies such as GlaxoSmithKline are planning to open its new manufacturing facility in India, which is also further expected to boost the demand for contract manufacturing services in India. In 2016, Rubicon Research Pvt Ltd, a contract research and manufacturing services firm, is in advanced talks with Everstone Capital and a few high-net-worth Individuals (HNI) to raise up to Rs 240 crore ($35.79 million), which will be used to increase the company’s manufacturing capabilities.

For Related Reports: Pharmaceuticals Industry Research