Published Online:March 2026
Product Name:The IUP Journal of Business Strategy
Product Type:Article
Product Code:IJBS040326
DOI:10.71329/IUPJBS/2026.23.1.55-63
Author Name:Kanchan Ganjoo Pantvaidya
Availability:YES
Subject/Domain:Strategic
Download Format:PDF
Pages:55-63
The pharmaceutical industry in India has achieved a robust growth and has been growing at the rate of 13-14% every year for the last five years. This sector is prospering steadily as it is not marred by recession or inflation. Growth in healthcare insurance industry and its gradual penetration into the rural market have also complemented the overall growth of pharmaceutical market. The pharmaceutical companies that aspire for leadership generally face three implications. Firstly, companies need to innovate through consumer insights. Companies need to go for a lot of research and development (R&D) to come up with new products than going for product extensions. Secondly, pharmaceutical companies need to upgrade their supply chains and merchandizing capabilities. Finally, companies need to be ready to accept lower margins in order to scale up their products and brands. The fact is that the industry continues to face challenges like patent cliff, rising drug discovery cost, price control, stricter regulations, and spiraling healthcare costs.