Pharmaceutical industry

India is one of the fastest-growing pharmaceutical markets in the world, and its market size has nearly doubled since 2005. The Indian pharmaceutical market is expected to reach US$ 20 billion by 2015, growing at a compound annual growth rate (CAGR) of 11.7 per cent during 20052015 and establish its presence among the worlds leading 10 markets. India is also the third-largest market in the world in terms of volume and fourteenth in terms of value. According to IMS Health, for the full year 2010, the Indian Retail Pharmaceutical Market was valued at US$ 10.2 billion, growing at 16.5 per cent over 2009. The pharmaceutical market has shown a strong double digit growth for the second successive year.

Regulated & Unregulated Markets

Regulated to unregulated refers to the spectrum of control a government institutes in the pharmaceutical industry, from requiring papers of R&D departments, reviewing results of clinical drug trials, and controlling the environment in which a drug is manufactured through tough licensing laws. Some countries make you jump through hoops, others could care less, or they have laws in writing which are not diligently enforced.

Worldwide Pharmaceutical Market

South East Asia The eight pharmaceutical markets of South East Asia are developing at markedly different speeds and are characterised by both contrasting and similar macro environments. These markets are projected to have a total pharmaceutical market value of US$77.4 billion at retail prices in 2016.

Latin America LATIN American economies are on the rise, and pharmaceutical markets have signs of new growth. Generics are a dominating force, but real opportunity exists, i.e. branded prescription drugs that still have patent protection.

Europe
Since 1985, one goal of the European Commission has been to achieve a single market for the pharmaceutical industry. The purpose of harmonizing the European Union (EU) pharmaceutical market is not only to provide an environment favorable for pharmaceutical innovation and development, but also to improve consumer choices in pharmaceuticals at affordable prices without compromising quality, safety or efficacy (European Commission 1998). However, efforts have been hampered by differences across countries in health system characteristics such as government market power and regulation, reimbursement policies and patent processes.

US Pharmaceutical Sector The pharmaceutical industry in the United States of America is a pioneer in terms of the discovery of new cost effective and life saving drugs. Being a comparatively free market, the pharmaceutical industry also focuses on research and development. It has in fact emerged as the leader in global pharmaceutical industry. China China accounts for 20% of the worlds population but only 1.5% of the global drug market. China's changing health-care environment is designed to extend basic health insurance to a larger portion of the population and give individuals greater access to products and services. Following this period of change, the pharmaceutical industry is expected to continue its expansion.

Major players in the Indian market:

1. Ranbaxy 2. Dr. Reddys 3. Cipla 4. Sun Pharma 5. Lupin Labs 6. Aurobindo Pharma 7. GSK 8. Cadila Healthcare 9. Aventis Pharma 10. Ipca

Popular payment methods:

TT(telegraphic transfer) or Cash Advance Letter of Credit (L/C) Escrow Document Against Payment/Bill of Exchange (D/P) Open Account

Some export related terms such as: 1. Documentation for central excise registration 2. Custom House Agents 3. Procedure for filing shipping bill 4. General reserve 5. Advance license 6. Duty drawback 7. ARE-1