The market-size for the Active Pharmaceutical Ingredients (APIs) is expanding rapidly and India in all likelihood may double its exports within a couple of years, opined Prasad Mangipudi, vice president, API Global, Aurobindo Pharma at the CPhI India which began in Mumbai today.

Speaking at the South Asia’s largest 3-day pharmaceutical event organised by United Business Media (UBM) at Mumbai, Mangipudi said, “The markets for API are one of the most rapidly developing among the pharmaceutical industry. Currently, the API market in India stands at $10-12 billion out of which, exports account for about $5 billion.  On the other hand, world API market stands at $35 billion. By 2013-14 the Indian API market will be about $18 billion and the world market would be $53 billion. At the same time, Indian exports would have been increased up to $12 billion which is more than double the current size. 

He added, “However, currently China is the main competitor of India. China has positioned itself as a low cost manufacturing destination and India needs to gear up to catch up with China. India can position itself as the ‘value solution providers’ as understanding the customer need is very important in tapping API market.”

Praveen Khullar, senior director, Development Centre, sanofi-aventis Group while speaking at the conference said that the global pharmaceutical market currently stands at $842 billion. “The research & development activities in super generics cost up to 10 per cent. However, there may be decline or stagnation on heavy investments in the R&D. The reason behind this is, there is no block buster invention in last few years.  The competition in normal generics is increasing.” Moreover, he said that Japan is rising as a crucial market for the super generics.

A large number of visitors visited the event on the first day of the 3-day CPhI India, P-MEC, BioPh and ICSE events of UBM India which is being organised in partnership with Pharmaceuticals Export Promotion Council (Pharmexcil).