Micro Labs, Sun Pharma, Cipla & Glenmark are in race for coveted Leadership Award in Healthcare
3rd Annual Indian Affairs Business Leadership Awards 2011 Will Test The Leadership Of Domestic Pharma Majors Micro Labs, Sun Pharma, Cipla & Glenmark For The Coveted â€śIndiaâ€™s Most Valuable Pharmaceutical Companyâ€ťAs Their Performance & Leadership In Key Therapeutics Segments Will Be Judged & Voted By The Indian Medical Doctors.
Maharashtra , Mumbai, Thursdayday, February 23, 2012 : It is a matter of both pride & testing time for the top 4 major Pharmaceutical Companies in India such as Micro Labs, Sun Pharma, Cipla & Glenmark as these Companies have been nominated by Indian Affairs Business Leadership Awards 2012 at the 3rd Annual India Leadership Conclave hosted by Indiaâ€™s pink Magazine Indian Affairs ( www.indianaffairs ) in partnership with Indiaâ€™s Most widely read Analytical & interactive Pharmaleaders Magazine ( www.pharmaleaders.co.in ) who is assigned to do a comprehensive market survey of Indian Medical Doctors to choose the best. According to MCI's Indian Medical Register that was last updated in April 2011, the nation supposedly boasts of 840,678 registered medical practitioners & the Indian healthcare industry is seen to be growing at a rapid pace and is expected to become a US$280 billion industry by 2020. Rising income levels and a growing elderly population are all factors that are driving this growth. In addition, changing demographics, disease profiles and the shift from chronic to lifestyle diseases in the country has led to increased spending on healthcare delivery.In order to meet manpower shortages and reach world standards India would require investments of up to $20 billion over the next 5 years.
Given the enormous opportunities & global exposure, It is pertinent here to note that India is all set to emerge as one of the Top 5 global markets for pharmaceutical products by 2020, driven by huge domestic demand and increased consumer spending on drugs & the global pharma market is expected to grow at 7 percent to 8 percent over the next five years, reaching an anticipated $1.7 trillion in 2020. with the rise in the per capita income, the spending is going to be triple (approximately $33) by 2020 & By 2020, nearly 650 million people will have health insurance cover, while private insurance coverage will grow by nearly 15 percent annually till 2020. A close study on Indian market has revealed that in metros and Tier-1 markets, which have been growing at 14-15 percent in the last five years, will drive growth in the industry. They account for 60 percent of the Indian pharmaceutical market today and look set to continue growing to a market size of $33 billion by the end of the decade, rural areas, on the other hand, will constitute 25 percent of the total market, by 2020, up from 20 percent at present.
The sample size of the Pharmaleaders Research team comprise of nearly 12,000 Doctors in Tier1 Tier 2 Cities who have access to internet & use emails on a regular basis. As the methodology involve voting by email, physical answers & mostly smses, these doctors are asked whom will they choose as their best partner while treating patients & administering the drugs on them. While Cipla is a old player & familiar name to these doctors, other three nominees such as Microlabs, Glenmark & Sun Pharma have dominated the indian prescription market & come to the centre stage lately with strong marketing, R &D with a focus on manyfacturing facilities. The total Medical Representatives employed by Micro Labs, Sun Pharma, Cipla & Glenmark are more than 10,000 while Microlabs alone is believed to have a strong force of 3000 Medical Representatives. Ranking 10th among prescriptions and 20th in sales, Microâ€™s brand portfolio includes some of the topmost brands in various specialties like Cardiology, Diabetology, Anti-infectives, Ophthalmology, Pain, etc. Cipla, Glenmark & Sun Pharma too come under the top 20 categories. Sun Pharma is a consistent performer & has outsmarted other companies by sales & figures while Glenmark is sound in Research & strong in dermatology segments. Ciplaâ€™s products are also widely patronized by Indian Doctors.
Amidst the above back-ground, all four leading national players will be tested & diagnosed by the Doctors who will choose the coveted â€śIndiaâ€™s Most Valuable Pharmaceutical Company 2012â€ť. The Winner will be announced on at the Asiaâ€™s Biggest & Indiaâ€™s Much awaited 3rd Annual India Leadership Conclave & Indian Affairs Business Leadership awards 2012 in Bengaluru, Friday, the 6th April 2012 at the Grand Ball Room of Hotel Lalit in India.
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Last updated on: 25/02/2012 14:30:26