Abstract
PurposeThis study aims to access, analyze and highlight opportunities and problems of the Indian pharmaceutical sector in the broader national health-care industry. The recent changes in the field, at the institutional and corporate levels, have placed India in the spotlight of the global pharmaceutical market, but several threats and weaknesses could limit this expansion.Design/methodology/approachDescriptive and inferential analyses have been based on empirical data extracted from authenticated data sources. Subsequently, a narrative strengths, weaknesses, opportunities and threats analysis was performed based on the results of prior investigations and on qualitative data that were retrieved from a marketing intelligence examination to generate an overall scenario analysis.FindingsIndian pharmaceutical companies have faced several challenges on various fronts. In the home market, drug prices are controlled by the drug price control order; therefore, there is strong pressure on revenues and subsequently on costs. In the international market, threats derived from pharmaceutical multinational companies are emerging as tough obstacles to overcome.Practical implicationsMore focus on patents for innovative drugs is required, instead of concentrating primarily on generic drugs. There is a need for policymakers to work on the sustainability and development of the industry, while the companies must redesign their orientation toward enhancing innovation capabilities. In addition, at the level of corporate strategy, firms should establish collaborations and alliances and expand their industrial marketing vision.Originality/valueThis study provides a global overview of the potential growth and development of the Indian pharmaceutical sector, comparing it with internal trends and external competition. The most relevant contribution of the research relies on the shift to innovative production that Indian companies must adopt (after years of focusing only on generic drugs), and in this vein, appropriate industrial marketing solutions are indispensable.
Highlights
Introduction© Giuseppe Festa, Ashutosh Kolte, Maria Rosaria Carli and Matteo Rossi
This study provides a global overview of the potential growth and development of the Indian pharmaceutical sector, comparing it with internal trends and external competition
The Indian pharmaceutical sector is at the top among the country’s science-based industries, having widespread competencies in the complex field of drug manufacturing and technology; prior to 1991, governmental policies focused on self-reliance, protectionism and lesser cooperation in trade and services, whereas the world was advancing technologically very
Summary
© Giuseppe Festa, Ashutosh Kolte, Maria Rosaria Carli and Matteo Rossi. The ‘Introduction’, ‘Research objectives and methodology’, ‘Results’ (excluding the ‘The scenario of the Indian pharmaceutical industry: descriptive and inferential analysis’ and the ‘The scenario of the Indian pharmaceutical industry: contextual analysis’ subsections), ‘Research limitations and future directions’, and the ‘Conclusion’ sections were written by Giuseppe Festa. The ‘The scenario of the Indian pharmaceutical industry: contextual analysis’ and the ‘A narrative strengths, weaknesses, opportunities and threats analysis of the Indian pharmaceutical industry’ sections were written by Ashutosh Kolte. The ‘The scenario of the Indian pharmaceutical industry: descriptive and inferential analysis’ and the ‘Theoretical and practical implications’ sections were written by Matteo Rossi. This article is published under the Creative Commons
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