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Growing Investment Trends In Healthcare Infrastructure Projected To Boost The Growth Of India And Oman Pharmaceutical Industry Market

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Lucy Kart
Growing Investment Trends In Healthcare Infrastructure Projected To Boost The Growth Of India And Oman Pharmaceutical Industry  Market

The India And Oman Pharmaceutical Industry Market is estimated to be valued at US$ 59924.05 Mn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

The India And Oman Pharmaceutical Industry Market encompasses pharmaceutical drugs and medical devices that are used to treat various medical conditions. Some key products in this market include prescription drugs, OTC drugs, diagnostic equipment, medical appliances, surgical equipment and others. Rising income levels and awareness about healthcare has led to increased spending on pharmaceuticals and medical devices in India and Oman in recent years. Advancements in technologies are also enabling development of innovative drugs and medical devices for better treatment of diseases.

Market key trends:

One of the major trends in the India And Oman Pharmaceutical Industry Market is the growing focus on development of generic drugs. As patent protections expire for many blockbuster drugs, companies are investing heavily in development of low-cost generic versions to gain market share. This is benefiting patients through more affordable treatment options. Further, growing prevalence of chronic diseases like cancer, diabetes etc. has led to higher demand for specialized drugs for management of these conditions. To meet this demand, companies are engaged in R&D for development of advanced biologics and specialized drugs. However, price controls and regulatory changes continue to impact revenues for companies. Overall, increasing healthcare spending and focus on expanding access is expected to drive growth of the pharmaceutical industry in the regions over the forecast period.

Porter's Analysis

Threat of new entrants: The threat of new entrants is moderate due to the need for substantial capital investments and regulatory approvals. Bargaining power of buyers: The bargaining power of buyers is high given the availability of generic medicines along with increasing focus on healthcare costs. Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the relatively high dependence on imports from other countries. Threat of new substitutes: The threat from new substitutes is high as there exists potential for alternative treatment methods. Competitive rivalry: Competition is high among existing players.

Key Takeaways

India And Oman Pharmaceutical Industry Market Size is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period 2023 to 2030, due to increasing aging population and rising prevalence of chronic diseases in the region.

Regionally, India dominates the market in the region and is expected to maintain its leading position over the forecast period as well, led by domestic manufacturers like Pfizer, Sun Pharma and more catering to the huge domestic demand. Oman is also expected to exhibit steady growth with support from government policies.

Key players operating in the India And Oman Pharmaceutical Industry are Pfizer, Inc., Bristol Myers Squibb, Sanofi S.A., F. Hoffmann-La Roche AG, Bayer AG, Novartis International AG, Merck & Co., Inc., AbbVie, GlaxoSmithKline plc, Eli Lilly and Company, Zydus Cadila, Aurobindo Pharma Ltd., Cipla Ltd., Dr. Reddy's Laboratories Ltd., Lupin Ltd., Sun Pharmaceutical Industries Limited, Serum Institute of India Pvt. Ltd., Biocon Limited, Strides Pharma Science Limited, and Unichem Laboratories. These players are focusing on new product launches and enhancing production capacities to strengthen their positions in the market. 


Read More- https://www.ukwebwire.com/india-and-oman-pharmaceutical-industry-market-forecast/

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