Indian pharmaceutical analytical testing outsourcing market is projected to grow at a significant CAGR of around 9.2% during the forecast period (2021-2027). The significant growth in the pharmaceutical sector further provides a significant opportunity for the Indian pharmaceutical analytical testing outsourcing market. Indian pharmaceuticals industry is the primary destination for foreign pharmaceuticals companies. A large number of foreign market players such as Pfizer Inc., Novartis, and others are investing in the Indian pharmaceutical market for services such as drug development and R&D, which in turn will result in the shift of the pharmaceutical analytical testing outsourcing market into Asia-Pacific in the near future.
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The Union Cabinet has passed the amendment on the existing Foreign Direct Investment (FDI) policy in the pharmaceutical sector to allow FDI up to 100% under some conditions for the manufacturing of pharmaceutical products. During 2000-2017, according to the Department of Industrial Policy and Promotion (DIPP), the drugs and pharmaceuticals sector attracted cumulative FDI inflows worth $15.6 billion in India. The investment in the drug and pharmaceuticals sector will significantly shift the focus of pharmaceuticals companies into the Asia-Pacific market. Therefore, the foreign investment in the Indian pharmaceutical sector further provides a significant opportunity to the market.
Market Coverage
|
Report Elements |
Details |
|
Study Period |
2020-2027 |
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Base year |
2020 |
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Forecast period |
2021-2027 |
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Segments Covered |
By Product Type and by Services |
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Key Companies Profiled |
Charles
River Laboratories International, Inc., CMIC, Inc, Cambrex Corp., Covance
Inc., Dalton Pharma Services, WuXi AppTec Co., Ltd., and others |
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID-19 forecast
o Most affected region/segment
o Recommendations
Indian Pharmaceutical Analytical Testing Outsourcing Market – Segmentation
By Product type
By Services
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