The Indian pharma market is currently valued at 72,069 crore INR as against 65,654 crore INR in 2012. Though the market value has seen an increase, the sector overall has experienced a slowdown with its growth going down to 9.8% from 16.6% in 2012. This slowdown can be attributed to the new drug pricing policy and the regulatory interventions over the last year.
The joint CII-PwC report examines the changing landscape of the Indian pharma industry, the regulatory hurdles and the emerging technologies called SMAC: social networking, mobile computing, analytics and cloud computing that need to be considered in order to achieve a sustainable and compliant long-term growth.
Key take-ways of the study include: Indian pharmaceutical market highlights 2013; Regulatory challenges; Clinical research in India; Building a robust internal compliance programme; The technology curve: revamping the pharma industry.
The report was released at the 11th Pharma Summit 2013 organised by CII on 31 October, 2013 at Mumbai.