A report from research firm KPMG predicts that the domestic pharmaceutical industry is projected to grow by 16 per cent annually for the next five years, three percentage points more than the current growth rate. The report “Indian Pharma Inc a continuing success story”, projects the growth as being mainly driven by an increasing spend on healthcare on account of rising disposable incomes, increased penetration of health insurance and changing disease profile, coupled with regulatory changes. The report also says that organised pharmacy chains, which currently holds just 2 per cent of the domestic market share, would capture an increasing percentage of the total market and expand the market with value-added services and enhanced offerings. The report was released at a CII Pharma Summit in Mumbai on November 1. The report also sees 100 per cent growth in the health insurance penetration in the country over the next 5 to 7 years. The current penetration is just about 10 per cent. The focus of the therapeutic mix will also shift from acute diseases to chronic diseases in the medium to long run with about 75 per cent, driven by the increasing prence of the chronic diseases, life style changes and ageing population, the report said.

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