Indian CRAMS players to register CAGR of 18-20% by 2018: CARE
Source: IRIS | 30 Jan, 2015, 04.02PM
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Rating: NAN / 5 stars. |
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CARE Ratings expects Indian Contract Research and Manufacturing Services (CRAMS) players to register strong growth rates a CAGR of 18-20% by 2018. In the past with global innovators rationalizing inventories and reducing Research & Development spend; Indian players faced a gloomy phase. Going forward factors like patent cliff, favorable currency and focus on new product development shall drive the growth. In CARE Ratings' opinion this augurs well for the credit profiles of the Indian CRAMS players. CARE Ratings expects Indian CRAMS industry's share to increase to approximately 8-9% of global CRAMS market by 2018 from approximately 6% in 2013. As the trend of outsourcing picks up among the pharma emerging markets (non-regulated, non-developed markets), Indian CRAMS industry is expected to capitalise on its expertise in the pharma outsourcing space and establish its presence in such new markets. However, the players are likely to encounter strong competition at global level, pricing pressures and higher input prices.
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