Indian pharma grows at 9.5% CAGR in last five years
Indian pharma grows at 9.5% CAGR in last five years
BusinessToday.In
- Dec 23, 2020,
- Updated Dec 23, 2020 9:37 AM IST
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India is among top 10 nations in pharma spending globally. In value terms, it is one of the top 3 and growing at a fast pace due to its population size, increasing chronic diseases, and rising healthcare facilities.
SHIVANI SHARMA, PRAGATI SRIVASTAVA
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Indian pharma has grown at 9.5% CAGR over the past five years despite multiple challenges such as policy changes, demonetisation and GST rollout.
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Indian pharma has been consistently growing in double digits in recent years.
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Cardiac, Diabetes, Derma, CNS and Vitamins have been the fastest growing over the past four years, while anti-infectives the slowest (6.5% CAGR).
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Top 20 companies include four MNCs. They are Abbott India, GSK, Sanofi and Pfizer.