Register muted export revenue and stable domestic revenue in India to be expected to increase in the next budgetary year. 5 per cent of overall pharmaceutical exports and 8-10 per cent on domestic pharma is expected.
Speaking about the exports, current PM Narendra Modi has brought up “come make in India” in which is an open invites to life science sectors to make a start. “Due to the recent increase in US regulatory against domestic pharmaceutical companies the growth of exports to the US is likely to be restricted. The export growth to semi-regulated markets also seems likely to get affected by the High depreciation of merging market currencies.”
The expectation growth of overall Indian(Pharma) is 5 per cent in FY17. The outlook has been revised for pharmaceutical sectors for the year 2016-17 from ‘positive’ to ‘stable’, seeking for change for the next budgetary year.
The US Food and Drug Administration (FDA) issued several warning letters and import alerts against Indian facilities on quality related issues.
As of 2015-end, as many as 42 Indian facilities of 28 companies were under import alerts. Pharmaceutical growth continued to decline in FY15 due to the slowdown in export growth, and revenue growth in 12 months ended September 2015 was a little over 7 per cent – the lowest over the last five years.
However, the domestic pharmaceutical market is likely to sustain the recently gained momentum on the back of stable underlying growth drivers and grow at 13-15 per cent in 2016-17, it said.
The statistics and growth is marked so important in the pharma industry for the medical device registration in Indian Healthcare market, the overall growth rate percent and their sectors are
- 8-10 per cent in Sector growth for 2017
- 12.1 per cent in 2015
- 5 per cent in 2015
The increasing healthcare spending by the government, demographic trends, increasing disposable income and higher incidence of lifestyle diseases grows in the domestic market. On Drug price expansion leading to the growth of companies temporarily, increases the volume of sales in the medium term might neutralize the impact.