India & Oman
Pharmaceutical Industry Market Is Estimated To Witness High Growth Owing To
Increasing Investments in Healthcare Infrastructure and Rising Chronic Diseases

The
global India & Oman Pharmaceutical Industry Market is estimated to be
valued at US$ 47,179.5 million in 2021 and is expected to exhibit a CAGR of
12.7% over the forecast period 2021-2030, as highlighted in a new report
published by Coherent Market Insights.



Market Overview:



The India & Oman Pharmaceutical Industry Market includes the production,
distribution, and sale of pharmaceutical drugs and products in the regions of
India and Oman. The market is driven by the increasing investments in
healthcare infrastructure and the rising prevalence of chronic diseases. The
pharmaceutical industry plays a vital role in the Indian and Omani healthcare
systems by providing essential medications and treatments for various diseases
and conditions.



Market Dynamics:



1. Driver: Increasing Investments in Healthcare Infrastructure

With the growing population and rising healthcare needs, both India and Oman
have been investing significantly in their healthcare infrastructure. The
governments of these countries are focused on improving healthcare facilities,
expanding healthcare coverage, and accessibility to essential medicines. This
has led to increased funding for the pharmaceutical industry, which has
positively impacted the growth of the market.



2. Driver: Rising Chronic Diseases

The prevalence of chronic diseases, such as cardiovascular diseases, diabetes,
and cancer, has been increasing in both India and Oman. This has created a
higher demand for pharmaceutical drugs and products for the treatment and
management of these diseases. The pharmaceutical industry has been actively
involved in developing innovative and effective medications to address the
healthcare needs of patients with chronic diseases.



Segment Analysis:



The market can be segmented based on product type, therapeutic area, and
distribution channel. One of the dominant segments in the India & Oman
Pharmaceutical Industry Market is the generic drugs segment. Generic drugs are
cost-effective alternatives to branded drugs and have witnessed significant
demand due to their affordability and widespread availability.



PEST Analysis:



Political: The political landscape in both India and Oman is stable, with
supportive government policies for the pharmaceutical industry. The governments
have implemented regulations to ensure the quality, safety, and efficacy of
pharmaceutical drugs in the market.



Economic: Both India and Oman have witnessed steady economic growth, which has
resulted in increased healthcare spending. The pharmaceutical industry has
benefited from the economic prosperity, as people have more disposable income
to spend on healthcare products and services.



Social: The increasing awareness about healthcare and the prevalence of chronic
diseases have influenced the social dynamics of both India and Oman. People are
more conscious about their health and are actively seeking pharmaceutical
products for prevention and treatment purposes.



Technological: The pharmaceutical industry has been adopting technological
advancements to improve the research and development of drugs, manufacturing
processes, and distribution systems. This has led to the development of more
efficient and effective medications.



Key Takeaways:



- The global India
& Oman Pharmaceutical Industry Market Size is expected to witness
high growth, exhibiting a CAGR of 12.7% over the forecast period, due to
increasing investments in healthcare infrastructure and rising chronic
diseases.

- In terms of regional analysis, India is expected to be the fastest-growing
and dominating region in the market due to its large population, improving
healthcare facilities, and supportive government initiatives.

- Key players operating in the global India & Oman Pharmaceutical Industry
Market include Pfizer, Inc., Bristol Myers Squibb, Sanofi S.A., F. Hoffmann-La
Roche AG, Bayer AG, Novartis International AG, Merck & Co., Inc., AbbVie,
GlaxoSmithKline plc, Eli Lilly and Company, Zydus Cadila, Aurobindo Pharma
Ltd., Cipla Ltd., Dr. Reddy's Laboratories Ltd., Lupin Ltd., Sun Pharmaceutical
Industries Limited, Serum Institute of India Pvt. Ltd., Biocon Limited, Strides
Pharma Science Limited, and Unichem Laboratories. These companies are focusing
on research and development activities, strategic collaborations, and mergers
and acquisitions to strengthen their market position.