The article focuses on the key players of pharma sector in India with its changing scenario and effect on the capital market. The article also discusses about the increasing oppurtunities of pharma industry in the Global Market and how India is poised to become an outsourcing hub.

The pharmaceutical industry, one of the key industries in India, has made tremendous growth during the past three decades. From being nearly a non-existent entity in 1970, it has grown up to become a prominent supplier of healthcare products catering to 95% of the pharmaceutical needs of the country. The growth made by this industry is quite noteworthy-from being a major importer of bulk drugs, formulations and processing, it has become a key exporter of these ingredients. It has emerged as an industry equipped with highly sophisticated, advanced, and modern infrastructure with the latest technology and an unyielding quality control system. The Indian pharmaceutical industry ranks `fourth' in terms of volume and `thirteenth' in terms of value in the global pharmaceutical industry and is estimated to have a turnover of around US$8.0 bn with over 26,000 units of which 260 units belong to the organized sector and the other units belong to the small scale sector. According to the estimates of Organization of Pharmaceutical Producers of India (OPPI), the Indian market would grow to US$25 bn by 2010. The industry accounts for 8% of the global market in terms of volume. During the past few years, the pharma business has been primarily driven by new launches, mostly contributed by the Indian companies, in contrast to that of their multinational counterparts. As of 2005, 70% of the domestic market was controlled by the Indian companies.

The global pharmaceutical industry is next only to the global banking industry. The industry is mostly concentrated in the developed world of which North America occupies 48%, European Union (EU) occupies 28%, and Japan occupies 11% as of December 2004. Irrespective of the pricing controls imposed by the government and increase in the number of drugs going off-patent, the pharmaceutical industry is projected to attain strong growth over the next few years.

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