NEW YORK, July 9, 2012 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:India Pharmaceuticals and Healthcare Report Q3 2012
Includes 3 FREE quarterly updates
BMI View: India's pharmaceutical regulator should drop its requirement for local clinical trials in order for a new medicine to receive approval. The country does not have the necessary number of trained professionals to effectively monitor the costly and timely process. Patients would benefit from more rapidly introduced pharmaceuticals, and drugmakers would also see higher commercial upside if the requirement was withdrawn. Like most other emerging markets, India should follow the guidance of regulatory agencies in developed states, namely the US Food and Drug Administration and the European Medicines Agency. If a country insists on local clinical trials ahead of approval, it must have the resources to do so as the Japanese Ministry of Health, Labour and Welfare does.
Headline Expenditure Projections
- Pharmaceuticals: INR730bn (US$15.6bn) in 2011 to INR846bn (US$17.4bn) in 2012; +15.9% in local currency terms and +11.5% in US dollar terms. Our forecast is unchanged from Q212.
- Healthcare: INR3,353bn (US$71.8bn) in 2011 to INR3,748bn (US$77.3bn) in 2012; +11.8% in local currency terms and +7.6% in US dollar terms. Our forecast is unchanged from Q212.
- Medical devices: INR139bn (US$3.0bn) in 2011 to INR156bn (US$3.2bn) in 2012; +12.2% in local currency terms and +8.0% in US dollar terms. Our forecast is unchanged from Q212. Risk/Reward Rating: India's Pha