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Between 2006-2007 and 2011-2012, formulations exports grew strongly at a CAGR of approximately 22%. During this period, exports to regulated markets also grew at a robust CAGR of approximately 29% owing to increasing does st john's wart affect hydrocodone adversely penetration of generics in key markets such as the United States and Europe.

Over the next few years, formulations exports are expected to continue to grow at a CAGR of 14-16%, driven by the growing opportunity from off-patent drugs in regulated markets and a favorable growth in semi-regulated markets. Indian players' continue to bag a substantial share of the Abbreviated New Drug Application ("ANDA") approvals in the United States. This also reflects on India's aggressiveness in pursuing regulated markets. Domestic demand for formulations also grew at a CAGR of 15% during 2006-2007 to 2011-2012, driven by a rise in consumption of drugs treating lifestyle diseases.

The domestic formulations market is likely to expand to over ' 1 trillion in 2016-2017, registering a CAGR of 13-15%.

Bulk drug exports too are expected to grow at a similar pace of 14-16% CAGR, as the growing generics market and rising cost pressures faced by innovators provide a ambien online phentermine purchase soma significant opportunity. Additionally, India's key strengths such as low-cost manufacturing, high process chemistry skills, manufacturing facilities and increasing number of drug master filings ("DMFs") are expected to drive growth in bulk drug exports. (Source: CRISIL Report - Opinion - Manufacturing Opportunities - Manufacturing opportunities for Indian pharma companies to remain upbeat (December 2012).) The Domestic Formulations Market Domestic formulations industry - highly fragmented Over 1,00,000 drugs, across various therapeutic categories, are produced annually in India.

The domestic formulations industry is highly fragmented in terms of both, number of manufacturers and variety ambien online phentermine purchase soma of products. There are 300-400 organized players and about 15,000 unorganized players. However, organized players dominate the formulations market, in terms of sales. In 2011-2012, the top 10 formulations companies accounted for 41.3% of the total formulations sales. MNC pharmaceutical companies have steadily gained a foothold in the Indian formulations market. As of 2011-2012, they enjoyed a market share buy tramadol onlincod of approximately 30%. (Source: CRISIL Report - Industry Information-Industry Overview (February 2013).) Chart-VI set forth below illustrates the growth in the Indian formulations market over the last five years. (Source: IMS Health India, Secondary Stockist Audit (SSA) December 2011.) In 2011-2012, overall formulations sales were primarily driven by higher volumes of existing products and new launches (including line extensions of existing products) also contributing to growth. The increase in drug prices was also higher than the previous year, however, such price hikes were limited to chronic drugs.

Over the past ambien online phentermine purchase soma five years (2006-2007 to 2011-2012), domestic formulations sales grew at a CAGR of 14.8%. A growing population, increasing healthcare awareness and rising per capita incomes drove up expenditure on medicines in India, in turn driving the fortunes of the formulations market. (Source: CRISIL Report - Opinion - Domestic Formulations - Exports-Drugs for chronic diseases to ambien online phentermine purchase soma drive growth in domestic formulations market (February 2013).) Domestic formulations sales growth and key therapeutic categories Domestic formulations sales grew by 15.5% year-on-year ("y-o-y") to an estimated ' 556.6 billion in 2011-2012. Among the therapeutic drug categories, growth was driven by chronic drug segments such as anti-diabetic, cardiovascular, neurology/central nervous system ("CNS"), while sales of gastro-intestinal drugs (acute segment) also grew steadily. A growing population, increasing healthcare awareness and rising per capita income has enabled the domestic formulations market to post a CAGR of 16.4% over the last three years. As seen in the past few years, in 2011-2012 too, sales of chronic therapy drugs grew faster than sales of acute therapy drugs. (Source: CRISIL Research - Industry Information - Review - Indian Market (February 2013).) Chart-VII set forth below ambien online phentermine purchase soma shows the evolution of therapeutic area mix.



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