In recent research named "Indian Pharmaceutical Market: Opportunity Analysis and Future Assessment 2023-2031," Reports & Insights provides an extremely comprehensive and detailed overview of the market's size, potential, and deep comprehension of the data targeted toward the market's development. The market size is predicted from 2023 through 2031, with 2021 serving as the base year for the analysis. The report also includes in-depth market knowledge, a conceptual framework, and current market trends in addition to a precise textual and graphical representation of the market over the forecast period of 2023–2031. These features were added to make the report even more intriguing. It was created by recognized market experts using approved research methodologies and tried-and-true analytical techniques.
Reports and Insights (R&I) has published a new report titled, “Indian Pharmaceutical Market: Opportunity Analysis and Future Assessment 2023 to 2031”
Indian Pharmaceutical Market, by Therapeutic Area (Anti-Infectives, Cardiovascular, Gastro-Intestinal, Respiratory, Pain / Analgesics, Anti-Diabetes, Vitamins / Minerals, Dermatological, Neurological / CNS, Gynaecological, Others), By Drug Type (Generic, OTC, & Patented), & by Region (North India, South India, East India, West India, Central India), is expected to grow at a healthy CAGR for the period between 2020 and 2028.
The global Indian Pharmaceutical Market in 2020 is estimated for more than US$ 55.1 Bn and expected to reach a value of US$ 103.2 Bn by 2028 with a significant CAGR of 8.2%
This Indian Pharmaceutical Market Research/Analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is used for Indian Pharmaceutical? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Indian Pharmaceutical Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was Global Market Status of Indian Pharmaceutical Market? What Was Capacity, Production Value, Cost and PROFIT of Indian Pharmaceutical Market?
- What Is Current Market Status of Indian Pharmaceutical Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Indian Pharmaceutical Market by Taking Applications and Types in Consideration?
- What Are Projections of Global Indian Pharmaceutical Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
- What Is Indian Pharmaceutical Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On Indian Pharmaceutical Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Indian Pharmaceutical Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Indian Pharmaceutical Industry?
As per the report, after years of rapid growth, the Indian pharmaceutical market is now ranked as the third-largest by volume, as expanding healthcare coverage allows a higher proportion of the population to access healthcare. Despite the high volume of medicine sold in India, the lack of spending on high-value treatments for conditions such as cancer and genetic conditions, coupled with the Indian pharmaceutical market having the lowest average drug prices anywhere in the world, leaves the Indian pharmaceutical market as only the 13th largest pharmaceutical market by sales revenue. As the middle class in India is set to expand significantly over the next decade, this will prompt a higher amount of spending on healthcare as the wealthier population demand a better level of healthcare.
Healthcare in India is currently mostly paid for out of pocket by patients, with estimates stating that less than 18% of India’s 1.3 billion-strong population are covered by some form of health insurance. It is likely that the growth of the Indian health insurance market will relate closely to the growth of the Indian pharmaceutical market analysis.
The government is currently attempting to encourage the population to get health insurance. Incentives include an increase in allowable deductions under section 80D of the Income Tax Act from Rs.15,000 to Rs.25,000 on health insurance premiums and an increase from Rs.20,000 to Rs.30,000 for senior citizens.
This is coupled with the government initiative to extend healthcare beyond just low-income workers and their families under the RSBY scheme to all Indians under the National Health Assurance Mission. The National Health Assurance Mission aims to provide basic healthcare for free for all citizens. These measures are likely to increase the amount of money available to spend on healthcare greatly over the forecast period.
The government and NGOs are also looking to increase awareness of health issues, which if successful will mean that the number of patients seeking medical treatment will increase. Patients who were previously unaware of treatments for certain conditions will seek treatment. Those who could not afford treatment due to a lack of funds will be able to if the government implements the National Health Assurance Mission successfully. All this bodes well for the Indian pharmaceutical market, which is set to show strong growth over the forecast period.
Furthermore, Reports and Insights (R&I) Study identifies that India is expected to show the highest GDP growth of any large economy over the forecast period, with GDP growth predicted to overtake Chinese GDP growth this year. If India fails to perform as well economically as it is expected to, this will impact the level of pharmaceutical spending in India, not only from government sources but also in the private sector.
As long as people are paying for healthcare out of their own pocket rather than being insured, a fall in income will mean that people will have a smaller amount of disposable income than they are predicted to and hence will spend less on healthcare. However, as the level of public and private healthcare insurance rises, this will lead to the level of pharmaceutical spending becoming less directly related to personal income than it is today. This means that the changes proposed by the Indian government will need to be acted upon for the pharmaceutical market to pass the $100bn thresholds by 2026.
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The Spirulina Market is expected to grow at a CAGR of 10.3% from 2020-2030, according to a new research report by Next Move Strategy ConsultingSpirulina is a blue green algae with high nutrient content, usually consumed by human & animals.
It is also used as a complementary diet ingredient in aquaculture & poultry feeds owing to the presence of high protein & vitamin content.According to the report, growth in health consciousness among people and the rising demand for dietary supplements are major factors driving the spirulina market growth.
Additionally, high penetration of spirulina in industries such as cosmetics and pharmaceutical owing to the advantageous properties such as anti-aging, anti-wrinkles and othersare bringing changes in market tends.However, low stability & poor sustainability of spirulina derived colours is expected to restrict the market growth.Moreover, growth in research & development activities followed by untapped market opportunities in developing economies are anticipated to provide numerous opportunities to the market players in the coming few years.On the basis of type, spirulina market share is segmented into Arthrospira Platensis and Arthrospira Maxima.
Arthrospira Maxima dominates the global Spirulina market and will be the dominant throughout the forecasted period.On the basis of application, the Spirulina market is categorised into Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others.Food & Beverages segment is likely to develop significantly over the period of time owing to fast growing food & beverage industry.On the basis of drug formulation, the spirulina market is bifurcated into Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent.
Powder segment is expected to account for the major market share & dominate the market growth over the forecast period.North America dominates the spirulina market in terms of market size over the forecast period, owing to rising health consciousness among people.
Hansen Holding A/S, Algenol Biofuels Inc., Dongtai City Spirulina Bio-engineering Co., Ltd., Prolgae, Parry Neutraceuticals, Sensient Technologies Corporation, DDW Inc., Algatec and Naturex S.A.Browse key industry insights from the report, “Spirulina Market Size By Type (ArthrospiraPlatensis and Arthrospira Maxima) By Application (Nutraceuticals, Food & Beverages, Cosmetics, Animal Feed, and Others), By Drug Formulation (Powder, Tablet & Capsule, Liquid, and Granule & Gelling Agent)Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2030” in detail along with the table of contents:Key Insights from the Spirulina Market Report:Asia Pacific is the fastest growing region in Spirulina market owing to the rising demand of spirulina from various industries such as cosmetics, food , healthcare and others and government initiatives to promote local spirulina production.The Food & Beverages segment dominates the market in terms of application and is expected to grow at a significant CAGR to maintain the lead till 2030.Some of the major players in the market are DIC Corporation, Cyanotech Corporation, Chr.
