STAFF WRITER 17:19 HRS IST
New Delhi, Apr 13 (PTI) India will join the league of top 10 global pharmaceuticals markets in terms of sales by 2020 with the total value reaching USD 50 billion by then, according to a report by PricewaterhouseCoopers (PwC).
The country's population is growing rapidly, as is its economy-?creating a large middle-class that can to afford western medicines, consultancy firm PwC's report said.
An ageing population together with increase in problems associated with cardio-vascular disorders and central nervous system will lead to higher demand for drugs, the report said.
Around USD 70 billion worth of drugs are expected to go off patent in the US over the next three years and India is capable of manufacturing a substantial share of the products.
New Delhi, Apr 13 (PTI) India will join the league of top 10 global pharmaceuticals markets in terms of sales by 2020 with the total value reaching USD 50 billion by then, according to a report by PricewaterhouseCoopers (PwC).
The country's population is growing rapidly, as is its economy-?creating a large middle-class that can to afford western medicines, consultancy firm PwC's report said.
An ageing population together with increase in problems associated with cardio-vascular disorders and central nervous system will lead to higher demand for drugs, the report said.
Around USD 70 billion worth of drugs are expected to go off patent in the US over the next three years and India is capable of manufacturing a substantial share of the products.
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