Domestic, semi-regulated markets to drive pharmaceutical industry's growth

High raw material prices to put pressure on margins

After recording 7 per cent growth last fiscal, the pharmaceuticals industry is projected to grow 9-11 per cent in this and next fiscal years. This will be led by steady domestic demand following price hikes across key therapy areas.

While exports to the United States (US), the main export market, will likely remain moderate, improvement in exports to semi-regulated markets, new launches and bulk drugs are expected to support revenue. 

The domestic market is expected to grow 8-10 per cent over a high base of 15 per cent growth during last fiscal year. Growth will be driven by a rise in prices,