Animal healthcare in India is no longer an afterthought, as global pharmaceutical companies facing loss in revenues due to expiring drug patents are looking for new growth markets.
These companies, hence, see the animal healthcare sector, as a sure-fire way to prop up their main business of innovative R&D and Pharma. The total animal healthcare market in India including Pet food market is currently estimated at about 4% of the total Indian Pharma market of USD 42 Billion (INR 3,015,000 Crore) and is worth Rs 12,000 Crore.
Since the generic competition in animal healthcare sector is increasing, Pharma companies with niche, innovative & technology driven products/applications are increasing their focus on the animal healthcare segment in India.