Indian pharmacy companies are well-poised to make their mark on the world. In these turbulent times, the sector has shown comparative resilience as the domestic pharmacy market continues to experience healthy growth and demand for generic medicines in international markets continues to rise.
The growing incidence of lifestyle diseases, large market of untapped customers, rising disposable incomes, greater penetration of health insurance and expanding medical infrastructure will continue to drive growth in the domestic Indian pharmacy market and fuel the R&D imperative. In addition, the country's intellectual and scientific talent is second to none while the U.S and MNCs continue to be attracted to the market from an innovation and outsourcing standpoint.
The most pressing imperative remains the need to address significant talent gaps. Finding suitable people, retaining the talented and creating a strong pipeline of leaders who can take on new and future challenges is the only way India can keep its competitive advantage over the next decade and capitalize on global opportunities.