Healthcare sector focusing on pharmaceutical has become one of the India’s largest subdivisions both in positions of revenue & employment. The industry is increasing at a wonderful pace owed to its strengthening attention, services and accumulative expenditure by public as well private players.
In FY17, India transferred pharmaceutical products worth US$ 16.8 billion, with the number predictable to reach US$ 40 billion by 2020. Throughout April 2017–February 2018, India transferred pharmaceutical products value Rs. 767.17 billion (US$ 11.90 billion).
Indian medications are transferred to more than 200 states in the world, with the US as the key marketplace. India becomes the world’s largest wage-earner of generic medicines; the country’s generic medications account for 20 per cent of global generic drug spreads (in terms of volumes).
Indian economy continues to grow and reason behind the growth of healthcare sectors involves:
- Positive government policy provision
- Enormous increase in reporting of medical insurance
- Growth in private sector reserves in new healthcare facilities
- Development in life style illnesses
- Remarkable growth in income levels
- 300 million robust middle class
- Accumulative consciousness about diseases and diagnosis
- Rush in educational levels
- Huge growth in private medical expenditure
Large number of foreign and Indian private healthcare, medical devices, pharmaceutical, biotechnology, clinical research, diagnostic and other healthcare/medical companies are accumulative their savings and increasing operations in India. Several worldwide medical gear and services companies are concentrating on India strategy. Large number of companies from U.S., U.K., Germany, Europe, Canada, Italy, Japan, and Australia are growing their presence in India. Public Private Company opportunities are increasing.
Here is the list of some companies which focus on health care and pharmaceuticals
The company with the main focus on health care analytics in India is ZS associates. They have a mainstream of their clients from the Healthcare and pharmaceutical upright. They effort on complex difficulties and revisions for these clients and have substantial expertise and specialist in the field of Healthcare analytics.
Mu Sigma also has a large custom in the health care industry and has performed some overwhelming work for these clients. Another benefit for Mu Sigma is the varied clientele from other industry verticals which supports it in applying an interdisciplinary viewpoint to various glitches and come up with ground-breaking solutions.
United health Group, Pfizer and many big pharmaceutical businesses have their individual analytics set up in India. Other businesses outsourced this task to companies like TCS, Accenture and other facility companies.
McKinsey is also setting up one of the principal health care analytics arrangement in India. These companies employ SAS and other tools for performing clinical trial, testing, efficiency and adverse effects of drugs. India is good place for analysis of these drugs as India’s demographics is very comprehensive.
Dr Reddy one of the largest pharmaceutical companies began as an active pharmaceutical constituents (API) producer in 1984, manufacturing high-quality APIs for the Indian domestic market. Till the date now it is diverted towards providing new searches in Pharma sector.
Sun Pharmaceutical Industries Ltd Sun Pharmaceutical Industries Ltd is a global specialty pharma company. The Company makings and markets pharmaceuticals formulations as proprietary generics, as well as generics in India, the United States (US) and several other markets across the world.
What opportunities these companies are provided so that India become the largest growing health care sector just look at the opportunities:
- Clinical Research
- Pharmaceutical, Food Supplements & Biotechnology
- Hospitals & Specialised Care Facilities
- Medical Waste Management
- Pathology Laboratories
- Imaging Diagnostic Centre
- Pharmacy Chains
- Healthcare Information Technology
- Medical Tourism
- Healthcare Recruitment Services
- Nurses Training
- Medical Publications/Medical Writing
- Knowledge & Business Process Outsourcing
- Medical Devices & Equipment