Domestic pharma market to touch $9.48 bln by 2010
New Delhi, Dec 5 (UNI) The domestic pharma market size will touch the 9.48 billion dollar mark at 13.6 per cent acceleration rate by 2010, as the investment on R&D will also grow to about 8-9 per cent of the total sales volume of the domestic pharma industry by then.
The domestic pharma market will touch the market size of 9.48 billion dollar by 2010 from its present level of over 5.7 billion dollar, Industry chamber Assocham today said in a paper.
The domestic pharma market consistently grew at 9.5 per cent CAGR in last five years, it said.
The industry body said presently the domestic pharmaceutical industry spends three per cent of its total sales on R&D which would rise to five per cent by the end of this fiscal.
This will touch 8-9 per cent mark due to countries' strong presence in the global arena in the last two decades, it added.
The industry body, however, said the spending of big pharmaceutical companies in India in large size is about 7-8 per cent of their total sales turnover.
Between 2000 to 2005, domestic pharma industry grew at an CAGR of about 9.5 per cent and touched the market size at 5.13 billion dollar by March 2005.
However, towards March 2006, the growth rate jumped to 11 per cent to hit the market size of 5.7 billion dollar, Assocham said.
The chamber has estimated that the clinical trial market in India will be 200 million dollar by 2007 and 1 billion dollar by 2010. The contract manufacturing market is expected to reach 900 million dollar by 2010, Chamber President Anil K Agarwal said.
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