A forecasted outlook of Indian Pharmaceutical Industry till 2030

Abstract

The purpose of the research is to forecast the growth outlook of Indian Pharmaceutical Industry until 2030, investigating the pattern of growth since evolution. This Industry is said to be “the pharmacy of the world”, it has travelled an elongated journey to become one. The pharmaceutical sector has registered tremendous growth in exports, per capita sale, total output and number of manufacturing units and revenue since 1970. The paper also shows the opportunity that the Indian pharmaceutical sector may witness for growth by 2030. A data of exports, per capita sale, total output and number of manufacturing units and revenue are taken into consideration for forecasting the growth of the industry. Python software is used for analysis and linear regression is applied for these forecasting. As a result, shows that there will be significant growth in the Indian pharmaceutical industry by 2030. It will be one of the biggest contributors to the Growth Domestic Product (GDP) of the country.