NEW DELHI, INDIA, October 27, 2008
/24-7PressRelease/ -- According to "Global Vaccine Market Forecast to 2012", our new research study, India represents one of the fastest growing vaccine markets in the world, with the market closing at around INR 39 Billion (US$ 900 Million) in 2006-07.
Domestic companies presently dominate this market with around seven out of top ten players being domestic companies. But with India's IPR laws improving considerably and healthcare expenditure increasing, foreign companies have started to acknowledge India's potential as a vaccine hub.
Thus, the presence of multinationals in the country has increased dramatically in the last 2-3 years with companies like Wyeth, GlaxoSmithKline, Sanofi-Aventis and Eli Lilly launching a number of innovative products in the country. And owing to the factors like increasing public and private healthcare spending, birth of around 15 Million babies each year and a large prevalence of both infectious and chronic diseases, the domestic demand for vaccines in India will continue to grow at double-digit growth rate, offering foreign players enough opportunities to expand their horizon in the country.
Apart from the domestic market, India is also emerging as a center for exports. Both research and manufacturing of vaccines can be done in India at a fraction of the cost than in the west. Exports presently account for around 65% of the country's vaccine market and with growing investment by both domestic and international players, India is expected to fulfill the vaccine demand of both developing and developed countries alike.
"Global Vaccine Market Forecast to 2012" provides market-based research and gives insights into the global vaccine market. It rationally analyzes the market and presents a thorough statistical and analytical overview on the global vaccine market, and gives historical as well as future outlook on the Indian vaccine market. The research extensively details on the opportunities and challenges that are expected to arise within and from the vaccine market to help clients position their strategies accordingly.
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