New Delhi: India’s Domestic Pharma Formulations (DomForm) market, which includes branded generic medicines, is expected to more than double and cross Rs5.5 trillion in the next 10 years at a CAGR of 10 per cent, according to a new report. The report, by investment banking firm Avendus Capital, showed that currently the market is valued at Rs2 trillion, with a growth rate of 11 per cent over the last 20 years.
However, with a gradual transition from a primarily doctor-branded prescription model, more stringent quality compliance, and government policies and regulatory measures, the market is expected to make a significant growth.