Domestic branded generic formulations market can grow at 10-12%: Industry

The pharma industry captains feel the domestic branded generic formulations market can grow at 10-12 per cent annually for the next few years.

Speaking at a conference, Cadila Healthcare Chairman Pankaj Patel said the market can grow when there is overall growth, and the GDP grows, because most of the spend is still out of the pocket. He feels that the market can clock 10-12 per cent growth over the next few years. 

Dilip Shanghvi, managing director of Sun Pharmaeuticals, said the industry growth will be few percentage points more than the GDP growth. As life expectancy increases, the sales of the pharma industry also grow, as most of the chronic medication sales happen after people turn 40-45 year-old.