Emerging Pharmaceuticals Industry in BRICS nations - WorldOfChemicals

Pharmaceutical Industry in BRICS Countries

Category : General Chemicals
Published by : Data Research Analyst, Worldofchemicals.com

The growth of the global pharmaceutical industry is being led by emerging and developing markets like the BRICS nations, which comprise of Brazil, Russia, India, China and South Africa. Whereas, the growth of the pharmaceutical industry is slowing down in the developed markets.


1. Indian Pharmaceutical Industry

When it comes to the Indian pharmaceutical industry, it has unique characteristics, which makes it stand out in the global pharmaceutical industry. Indian pharmaceuticals are the third largest after the US and Germany in terms of volume and fourteenth largest in terms of value. The Indian pharma industry has an edge over other international players owing to its low manufacturing cost, which is 30% to 40% lower than others.

The Indian pharmaceuticals market is projected to reach USD 55 billion by 2020 with a CAGR of 15.92%. There are more than 3000 pharma companies and 10500 drugs manufacturing units in India. There are more than 60000 generic brands across 60 therapeutic categories in India, which makes it the largest generic medicine supplier in the world. Indian pharma market accounts for over 50% of global vaccines demand.

 

2. Chinese Pharmaceutical Industry

The pharmaceutical industry of China is the second largest market in the world and the largest among the emerging countries. The pharma industry is valued at USD 135 billion in 2018 and is projected to touch USD 175 billion by 2022, with an annual growth rate of 6%. There are nearly 2000 pharma companies and over 5000 drugs manufacturers.

The pharma companies in China are primarily involved in the production of generic medicine, active pharmaceutical ingredients, therapeutic medicines and traditional Chinese medicines. Over 90% of drugs registered in China are generic by nature. In the next decade, the global position of Chinese pharmaceuticals is likely to incline towards R&D from manufacturing.

 

3. Russian Pharmaceutical Industry

The pharma market of Russia is expected to touch USD 38 billion by 2021 with an annual compound growth rate of 13%. The domestic pharmaceuticals market of Russia is dominated by generic medicine, accounting to 70% of the Russian pharma industry. 

 
4. Brazilian Pharmaceutical Industry

The Brazilian pharmaceuticals market is projected to touch USD 30 billion by 2021 with a CAGR of 7%. The market share for generic medicine in Brazil is over 33% in 2018. The focus of pharma companies in Brazil is shifting from generic medicine to innovative research. 


5. South African Pharmaceutical Industry

The pharmaceuticals industry in South Africa is valued at USD 7 billion in 2018 with a CAGR of 9.2%. The generic medicine share in the South African pharma market is over 60% and the remaining 40% share is of originator drugs. 


Conclusion

The emerging pharmaceutical markets have confidently grown and are on an accelerated growth path. The main question revolves around the nature and extent of these pharma markets potential. Pharma companies in these markets with the right intent, actions and investments will take over the global pharmaceutical industry in the future.


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