Industry grew at 17.46% CAGR in a decade
Over the last decade, pharmaceutical companies in India has witnessed tremendous growth and advances with a CAGR of 17.46% and market value of US$36.7 billion in 2016, says BizVibe.
With pharmaceutical research in India on the rise and advances in health, medical, and biotechnology by the top drug companies in India, we are starting to see a new era in the field, dominated by India.
The latest data shows that the pharmaceutical industry in India registered a CAGR of 17.46% over the past decade, with the market size increasing from US$6 billion in 2005 to US$36.7 billion in 2016.
The Indian pharmaceutical market is the third largest in the world in terms of volume, with many of India’s leading pharmaceutical companies have evolved to become some of the major pharmaceutical suppliers in the global market, gaining immense revenue and overall market value growth.
BizVibe is home to more than 333,250 pharmaceutical companies around the world, including many in India, listed the following:
1. Cipla
Cipla is one of the largest pharma companies in Mumbai. Founded in 1935 by Dr. K A Hamied, Cipla sets up an enterprise with the vision to make India self-sufficient in healthcare. Over the past 82 years, they have emerged as one of the most recognized pharmaceutical names in the global market. Today Cipla has over US$2 billion turnovers annually and over 23,000 employees working on over 1,500 products.
2. Reddy’s Laboratories
Dr. Reddy’s is one of the most profitable Indian multinational pharma companies in Hyderabad. The company began as an active pharmaceutical ingredients (API) manufacturer in 1984, producing high-quality APIs for the Indian domestic market. In 1987, the company started its formulations operations and, after becoming a force to reckon with in the Indian formulations market, went international in 1991. Today, the company is more than a US$200 million venture with a presence in almost all major therapeutic areas in the global market.
3. Lupin
Lupin, also based out of Mumbai, is a renowned pharma player having a wide range of quality, affordable generic and branded formulations and APIs. The company commenced its business in 1968, and first gained recognition when it became one of the world’s largest manufacturers of Tuberculosis (TB) drugs. Today, it has significant market share in the cardiovascular, diabetology, asthma, pediatrics, CNS, anti-infectives and NSAIDs therapy segments in the global market.
4. Mylan
Mylan is one of the world’s leading global pharmaceutical companies, with a significant and growing presence in India. With a workforce of more than 30,000 people, about half of whom are based out of India. Mylan’s broad portfolio includes generic and brand name products in a variety of dosage forms, which are sold in about 165 countries and territories.
5. Sun Pharma
Sun Pharmaceutical Industries Ltd, also based out of Mumbai, is an international specialty pharma company. The Company manufactures and markets pharmaceuticals formulations as branded generics, as well as generics in India, the United States (US) and several other markets across the world. Today, Sun Pharma has over 30,000 employees worldwide manufacturing more than 2,000 products across the 150 markets in the world. fii-news.com
