India is among the fastest growing pharmaceutical markets in the world. The domestic retail market is expected to cross the US$ 10 billion mark in 2010 and reach an estimated US$ 12 billion to US$ 13 billion by 2012. For 2007–08, export revenues are estimated to be around US$ 8.9 billion. Exports to regulated markets are expected to surge at a compound annual growth rate (CAGR) of 25.4 per cent between 2007-08 and 2012-13. In comparison, exports to semi-regulated markets clocked a CAGR of 14.6 per cent from 2000 to 2005. By 2012, exports are expected to top US$ 23.5 billion, with most of the value generated by generics and active pharmaceutical ingredients (API).

Significantly, the Indian pharmaceutical manufacturing outsourcing market is valued at US$ 1.1 billion and the segment is growing at thrice the global market rate. Indian drug discovery and development outsourcing market is also projected to grow at a rate of 50 per cent to reach US$ 900 million in 2009. Additionally, the clinical trials market in India is currently sized at approximately US$ 250 million to US$ 275 million and is expected to grow at a robust CAGR of 30 per cent over the next few years, at almost double the global average.

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