Indian Pharma industry market is estimated at USD 15 billion and is growing at a rate of 12% per annum in September 2015. Top 20 companies account for 64 per cent of the market and the top 8 are growing faster than the market. The industry has seen a consolidation phases with several mergers and acquisition. Some factors that contribute to leading pharma market are a thorough know-how in the manufacture of generics, rapidly developing research and development facilities with talented technical staffing, internationally recognised systems of pharmacy education, and a broad patient population pool enabling intense clinical trials.
India accounts for 30.3 per cent (2,911) of 9619 Drug Master Files (DMFs) filed with the US, which is the highest outside the US.