Indian nutraceuticals market to reach $8.5 bn by 2022
The Dollar Business Bureau India’s nutraceuticals market is likely to touch $8.5 billion in the next five years, a study revealed. “Indian nutraceuticals market is expected to cross from a value of $2.8 billion in 2015 to a value of $8.5 billion by 2022,” as per the joint study by ASSOCHAM and RNCOS. In 2015, the country accounted for about 2% share in the world market. By 2022, the share is expected to increase to approximately 3% on account of country's huge population base, rising awareness and urban belt, said the study. The overall market is segregated into functional food & beverages and dietary supplements. “In 2015, the market for dietary supplements was $1.8 billion. However, with riding awareness, more people are opting for these supplements on their own,” DS Rawat, ...
Generic drug market to cross $27.9 billion by 2020: study
The Dollar Business Bureau India’s generic drug market is expected to cross $27.9 billion and would account for 85% share in the domestic drug market by 2020, according to a study undertaken by ASSOCHAM and RNCOS. The current generic market size is $13.1 billion and is growing at a CAGR of about 16.3%, primarily due to approval granted by the USFDA makers and 21 drugs patent losing licenses by 2019, the study said. “Generic drugs account for 75% of the domestic pharmaceutical market by value. Drugs for cholesterol control, pain management, anticoagulant, respiratory, liver disorders, depression and lipid regulators are highly prevalent in the global market,” said the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and RNCOS. The study was conducted on ‘Generic ...
Proactive approach required to boost Indias trade with Africa
Bidhu Bhushan Palo | The Dollar Business Africa’s GDP is expected to grow to around $5-6 trillion by 2025 Despite the gains India has made in bilateral trade with Africa in recent years, there exists a substantial bilateral trade potential for India and Africa in the coming years. According to the Ministry of Commerce, India’s exports to Africa stood at around $23.3 billion in April – November 2014, which is up around 16% y/y and accounts for around 11% of India’s total exports during the period. India’s imports from Africa have also grown around 13% y/y to around $28 billion in April – November 2014. Significantly, India’s trade with Africa has grown during a period when exports to traditional markets ...
