Medical Products Marketing in India
Healthcare in India is in a state of enormous transition. Pharmaceutical prices are being liberalized, layers of bureaucracy reduced, and private healthcare financing is being introduced into the country. Diseases such as cholera, trachoma, typhoid, kala-azar, filariasis, malaria, leprosy, tuberculosis and AIDS continue to plague India; however the Indian government is expanding its outreach to offer healthcare services to a broader section of the Indian population which reached 1 billion in 1999. Some recent hallmarks of India's pharmaceutical and medical products markets include the following:
- The Indian government is advocating the establishment of private healthcare financing similar to insurance offerings in western countries. International insurance companies are being permitted to enter India and offer insurance products under joint venture arrangements with local companies.
- Foreign pharmaceutical companies are now permitted to operate wholly foreign owned subsidiaries in India for the development and manufacturing of drugs for the local market and for exports.
- Indian pharmaceutical firms are moving into the international arena with subsidiaries and joint venture alliances in the United States, Europe and other Asian countries, especially China. These companies are also positioning themselves to play an important role in contract manufacturing, utilizing their skill in low-cost, efficient drug manufacturing.
India's $5 billion domestic pharmaceutical market is made up of both formulations and bulk drugs. Over 60% of India's bulk drugs (or $1.2 billion) are exported with the balance sold domestically.
More information on India's medical market can be obtained by ordering copies of the 2005 Indian Medical Market Report and Telemedicine in India (2003 Edition) - both of which are profiled in this website.