Espicom's in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year. India has a huge population in excess of one billion people and a growing middle class with access to high quality healthcare. Conversely, in this geographically vast country plagued by natural disasters, the majority of the population is both rural and poor and western style pharmaceuticals are not even an issue for millions of people. Leading private healthcare providers are also striving to make India an international health resort, with an airport to airport concept of health tourism.

On a national level, the Indian health system is ill-equipped to cope with the rising number of elderly and the changing disease patterns, with an average of just 0.7 hospital beds and 0.6 physicians per thousand population. India faces the continuing challenge of fighting infectious diseases like malaria, tuberculosis and leprosy alongside increases in lifestyle related problems faced by the developed world, such as cancer, cardiovascular disease and diabetes.

In order to fulfil its obligations under the WTO TRIPS agreement, India was required to formally recognise pharmaceutical product patents with effect from 1st January 2005. In order to do so, the Patents Bill had to be amended, a process that was subject to lengthy delays and numerous heated debates. The Patents (Amendment) Bill 2005 was eventually pushed through both houses of the Indian parliament just before the Easter break in March 2005.

The introduction of product patents has renewed multinational interest in India and there have been a number of acquisitions of Indian companies. Recently, for example, Solvay signed a binding sale and purchase agreement for the acquisition of the Polymers Division of Gharda Chemicals. But the news is not all bad for the domestic industry. Running parallel to the opportunities for foreign acquisition, however, are the opportunities that arise for domestic companies for collaboration with foreign companies interested in capitalising on India's renowned skills and relatively low costs.

India has more US FDA approved laboratories than any other country outside the USA. A number of US companies already source pharmaceutical raw materials from India. In comparison with China, the wide use of English in commerce is mooted as an advantage to US companies, along with India's tradition as an exporting nation. India should prove to be a useful regional production base. Partnering an Indian company may also provide a good route to commercialisation in targeted markets such as Brazil or Russia, where Indian companies have an established presence. In addition, India has a large and varied patient base along with the necessary chemical and analytical skills at a comparatively low cost to make it an attractive base for clinical trials. R&D alliances are already being forged between multinationals and domestic companies.

India accounts for less than two per cent of the world market for pharmaceuticals, with an estimated market value of US$10.4 billion in 2007 at consumer prices, or around US$9 per capita. The vast majority of pharmaceuticals available in India are already off patent and generics are likely to dominate the market for the foreseeable future.