India’s Booming Pharmaceutical Market Is it Part of Your BRIC Marketing Strategy?
India is emerging as a global powerhouse in the pharma business with a robust domestic industry. India has an estimated population of 1.16 billion, making it the second most populous country in the world. The healthcare market in India — which includes pharmaceuticals, healthcare, medical and diagnostic equipment, and surgical equipment and supplies — is estimated to be US$ 30 billion. Revenues from the healthcare sector account for 5.2 per cent of the GDP and it employs over 4 million people. Private spending accounts for almost 80 per cent of total healthcare expenditure. This article, written by a marketer with firsthand experience, provides an overview of the pharmaceutical markets and promotional practices in India.
- Medical Tourism
- Booming Indian Clinical Trial Business
- Allopathic/Biologicals Market
- Herbal/Ayurveda Market
- Indian Biotech
- Internet vs. Mobile Phone Channels
- Aggressive Marketing: Indian Gift Giving
- Health 2.0 In India
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Issue: Vol. 7, No. 7: September 2008
Word Count: 2724