India Pharmaceuticals & Healthcare Report Q4 2014 - New Market Report

While the newly elected government is keen to improv e the population's health, BMI highlights that this may come at the pharmaceutical industry's expense , as drug price cuts are increasingly being using to limit health expenditure. We maintain that the government needs to increase spending on healthcare rather than pushing cost s on to the pharmaceutical industry.

Headline Expenditure Projections

Pharmaceuticals: INR904.0bn (USD15.4bn) in 2013 to INR1,021.8bn (USD17.6bn) in 2014; +13.0% in local currency terms and +14.2% in US dollar terms. Forecast upgraded from previous quarter.

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Healthcare: INR4,640bn (USD79.2bn) in 2013 to INR5,179.9bn (USD89.3bn) in 2014; +11.6% in local currency terms and 12.8% in US dollar terms. Forecast broadly in line with previous quarter.

Risk/Reward Rating

India's Pharmaceutical Risk/Reward Rating (RRR) score for Q414 is 53.0 out of the maximum 100, in our newly improved RRR system. The country scored above average for some indicators and sub-indicators including overall market expenditure, sector value growth, population growth. Nevertheless, it scored below regional average for most indicators under industry and country risks. Consequently with the moderate score, India is ranked tenth, behind New Zealand, out of the 19 key markets in Asia Pacific.

Key Trends And Developments

* In August 2014, Indian Prime Minister Narendra Modi pledged to form an 'accessible and affordable' health system (reports PMLive), despite the country's weak infrastructure. Modi aims to revive a health market that has not had policy reform since 2002. Up to 30% of medicines sold in India are covered by price controls. According to analysts, the health ministry's first steps have been cautious rather than the revolution promised in the Modi's manifesto. Modi called for the government to pursue a 'balanced evolution' so that any new healthcare system can synchronise with the pharmaceutical industry over the provision of...

The India Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's India Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Indian pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for India to test other views - a key input for successful budgeting and strategic business planning in the Indian pharmaceutical and healthcare market.

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